On June 10, Kingboard Laminates rose 3.97% in regular trading, trading at HK$63.1/share, with trading volume of HK$1.251 billion, extending a cumulative gain of over 20% in recent sessions.
On the news front, Middle East conflict has caused shutdowns at Saudi Arabia's Jubail industrial zone, disrupting approximately 70% of global PPE resin supply — a core raw material for high-end copper clad laminates. The company announced its fourth price increase this year on May 27, raising board material prices by 10% and PP product prices by 20%, with cumulative hikes exceeding 40% year-to-date. Citi recently raised the target price on parent company Kingboard Holdings from HK$65 to HK$90, maintaining a Buy rating, noting the stock still trades below book value. Goldman Sachs reported that global PCB prices surged up to 40% month-over-month in April, while AI server PCB value continues to rise structurally. Among sector peers, Kingboard Holdings fell 0.56% and VGT fell 4.67%, with Kingboard Laminates significantly outperforming.
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