On September 2, KINGBOARD HLDG rose 3.22% in regular trading, trading at HK$53.1/share, with turnover of HK$521 million. The rebound follows a collective pullback in the copper clad laminate (CCL) sector in the previous session.
On the news front, Citi published a research note on the same day, expecting subsidiary KB Laminates to raise CCL prices again in early October to pass through rising costs, reaffirming a Buy rating with a target price of HK$95. Separately, Bank of America recently raised its target price on KB Laminates from HK$53 to HK$65, maintaining a Buy rating and forecasting full-year net profit to reach HK$10 billion, with second-half earnings expected to grow significantly. These multiple bullish institutional signals helped drive the intraday rebound, with peer KB Laminates also rising 3.65% in tandem.
For context, KB Laminates issued its seventh price-increase notice of the year in late August, raising FR-4 CCL prices by 10% and thin-cloth PP by 20%, bringing cumulative price hikes to over 100%. KINGBOARD HLDG reported H1 revenue of HK$29.13 billion, up 35% year-over-year, with attributable profit of HK$2.71 billion, up 5%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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