KB LAMINATES (01888) saw its shares rise by more than 4% again, bringing the cumulative increase for the month to nearly 60%. At the time of writing, the stock was up 4.38%, trading at HK$37.06 with a turnover of HK$469 million. On the news front, a report from late April indicated that Guangdong KB Laminates Sales Co., Ltd., a subsidiary of industry leader KB Group, has issued a formal notice of price increases. The company cited persistently high copper prices and tight supply of glass fabric, which have led to a sharp rise in the cost of copper-clad laminates (CCL). Effective immediately, prices for FR-4 CCL and prepreg (PP) have been raised by 10%. Haitong International previously noted that, unlike the relatively fragmented competitive landscape of the PCB industry, the CCL sector features more concentrated production capacity and fewer major players, creating an oligopolistic structure. As the industry leader, KB LAMINATES holds strong pricing power. Against the backdrop of rising copper prices and tight supply-demand conditions, the company has implemented multiple price hikes to protect profit margins. With the acceleration of PCB production capacity expansion, demand for CCL is increasing, and the industry as a whole is entering an upward cyclical phase.
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