CNBM Shares Surge Over 9% in Early Trading on Strong Fiberglass and Electronic Fabric Pricing Dynamics

Stock News06-24

CNBM (HKEX: 03323) shares surged more than 9% in early trading. At the time of writing, they were up 7.87% to HK$5.62, with a turnover of HK$329 million.

The price increase for upstream raw materials such as electronic fabric and electronic resin has smoothly driven up the cost of copper-clad laminates throughout the supply chain.

Analysis indicates that Kingboard Laminates announced a 15% price hike on all thicknesses of FR-4 copper-clad laminates and PP prepregs on June 16. Furthermore, the price of 7628 electronic fabric has risen more than 70% since the beginning of the year.

Public information shows that CNBM's subsidiary, China Jushi, is the world's largest electronic fabric producer by capacity. China Jushi currently holds approximately 23% of the global electronic fiberglass market, with an annual production capacity of about 1.3 billion meters of electronic fabric.

Additionally, Sinoma Science & Technology has completed certification for its specialty fiber fabric products with major domestic and international clients and has begun batch supply.

According to a previous research report from Huatai Securities, CNBM holds a leading position in the fiberglass sector. The company holds 60.24% of Sinoma Science & Technology and 29.22% of China Jushi.

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