On May 28, Kingboard Holdings rose 3.5% in regular trading, trading at HKD 63.2/share, with trading volume of HKD 419 million, continuing to set all-time highs.

On the news front, persistent global copper clad laminate (CCL) supply-demand tightness remains the core driver. South Korea's March CCL import average price surged 74.5% year-over-year, hitting the highest level since 2000, with Korean PCB manufacturers reportedly engaging in panic buying at volumes five times normal monthly levels, while delivery cycles for high-end products extended from 2-4 weeks to over 6 weeks. On May 27, subsidiary Kingboard Laminates issued its fourth price increase notice this year, raising board material prices by 10% and PP (prepreg) prices by 20%, citing elevated copper prices and tightening fiberglass cloth supply. Cumulative price hikes have now exceeded 40% year-to-date, with downstream customers reportedly having no room to negotiate, executing uniform pricing. Additionally, Citibank raised Kingboard Holdings' target price from HKD 48 to HKD 65, reiterating a Buy rating and lifting earnings forecasts by 50-61%, noting the current price-to-book ratio of just 0.8x implies significant valuation upside. Peer stock KB Laminates rose 4.67% intraday, reflecting notable sector linkage.

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