KINGBOARD HLDG shares tumbled 5.15% during intraday trading on Monday, extending a prolonged downtrend as heavy selling by controlling shareholders and broader sector headwinds weighed on sentiment.
The sell-off came amid sustained supply-side pressure, with controlling shareholder Hallgain Management aggressively reducing its stake since early July, cutting its holding from 34.3% to approximately 31.54%. Board Chairman Zhang Guorong, Executive Director Zheng Yongyao, and Independent Non-Executive Director Zhuang Jianqi also offloaded shares in the same period, adding to the persistent overhang.
Peer KB LAMINATES also declined in tandem, reflecting broader weakness in the PCB sector. Institutional research points to concentrated capacity releases in the industry that are likely to trigger price wars, while the approaching interim results window has prompted funds to lock in gains. The stock has now retreated over 68% from its June peak, with market confidence remaining fragile ahead of the board's interim results review scheduled for August 24.
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