Hong Kong Stock Movement: Kingboard Group Continues to Decline; Kingboard Issues New Round of Price Increase Letters, Thick Fabric Products Excluded from Adjustment

Stock News10-15

According to Zhitong Finance APP, the Kingboard group of companies continued to decline. As of press time, Kingboard Holdings Ltd (00148) fell 6% to HKD 47.94, while Kingboard Laminates Holdings Ltd (01888) dropped 7.51% to HKD 39.18.

On the news front, Kingboard Laminates Holdings Ltd issued its latest round of price increase letters yesterday. Due to strong market demand for thin fabric and tight supply coupled with significant price increases in upstream glass fabric and glass yarn, the company raised sales prices of laminates and PP using 2116 and below thin fabric as raw materials by 15%. This marks the eighth price increase notice issued by the company this year.

Unlike previous months, this price adjustment only targets thin fabric products, with thick fabric products excluded from the adjustment. In response, Kingboard stated that this price increase indeed only applies to thin fabric laminates and PP products, while thick fabric products are not within the scope of the increase. "Among raw materials, thin fabric has seen a larger price increase, so we are raising prices for thin fabric products. Thick fabric products have not seen price increases," Kingboard said.

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