Kingboard Holdings' stock soared 14.38% during intraday trading on Monday, reflecting strong investor interest.
The surge follows news that its subsidiary, Kingboard Laminates, issued its fifth price increase this year, raising prices on all FR-4 copper-clad laminates and PP prepreg products by 15%, with cumulative increases exceeding 50%. Additionally, the company raised approximately HK$11.766 billion through a share placement to expand multilayer and HDI printed circuit board capacity.
Citi raised its target price for Kingboard Laminates by 20% to HK$120, maintaining a buy rating, and forecasts first-half net profit to surge 303% year-over-year. The supply-demand imbalance is further intensified by Middle East conflicts disrupting approximately 70% of high-end PCB core resin supply, while NVIDIA is reportedly intervening directly in upstream material procurement to secure next-generation AI server production schedules.