Kingboard Laminates' stock soared 6.27% intraday, driven by multiple positive factors.
The company has issued a price increase notice, raising board materials and PP prepreg prices by 10% due to sharp rises in upstream raw material costs including resin and electronic fiberglass cloth, alongside tight supply conditions. Citibank released a research report projecting more frequent average selling price increases as peak season approaches, with copper foil prices estimated to surge approximately 68% year-over-year. The bank raised earnings forecasts for the next three fiscal years and lifted the target price to 43 HKD, while designating Kingboard Laminates as its top pick in China's industrial AI infrastructure sector due to upstream supply shortages.
Additionally, the company reported strong full-year results, with revenue reaching 20.4 billion HKD, up 10% year-over-year, and net profit surging 83.6% to 2.442 billion HKD.
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