Stock Track | Kingboard Holdings Soars 5.11% Intraday on AI-Driven CCL Demand, Strong Earnings and Shareholder Confidence

Stock Track04-24

Kingboard Holdings' stock soared 5.11% during intraday trading on Friday, extending its recent positive momentum.

The surge is supported by a confluence of positive industry and company-specific developments. The copper clad laminate (CCL) segment, a core business for Kingboard, is experiencing tight supply-demand dynamics directly driven by exploding AI computing demand, which boosts downstream PCB requirements. Since April, leading CCL companies have issued multiple price increase notices, with Kingboard recently announcing a 10% price hike for all laminate and prepreg materials. Analysts note that the AI-driven super cycle is expected to provide sustained robust demand for high-end CCL for the next 3-5 years.

Further bolstering investor confidence are strong corporate actions and financial performance. Major shareholder Hallgain Management Limited conducted consecutive stake increases in recent days, lifting its holding to 44.50%. The company also reported robust annual results, with revenue rising 5% year-on-year and profit attributable to shareholders soaring approximately 170%. Additionally, the board has proposed a general share repurchase mandate of up to 10% of the issued share capital, signaling management's confidence in the company's value.

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