Movement Alert|Kingboard Holdings Falls 4.26% in Regular Trading, Core Shareholders Intensive Sell-Off Offsets Price Hike Benefits

Market Focus09:57

On July 7, Kingboard Holdings fell 4.26% in regular trading, trading at HK$88.0/share, with turnover of HK$631 million, extending the prior session's over 9% decline.

On the news front, despite subsidiary Kingboard Laminates issuing its sixth price increase notice this year on July 6, multiple headwinds have neutralized the positive catalyst. Controlling shareholder Hallgain Management Limited and several core directors have been intensively reducing holdings since late June. Hallgain sold 4 million shares on June 30 for approximately HK$478 million, following a single-day disposal of over 25.35 million shares on June 24 worth HK$3.243 billion. Managing Director Zheng Yongyao and Executive Director Zhang Jiacheng also sold concurrently, with cumulative proceeds exceeding HK$4 billion. Additionally, reports that Samsung and SK Hynix are negotiating lower substrate supply prices for H2 have further pressured sentiment across the PCB sector.

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