On June 2, Kingboard Holdings fell 3.2% in regular trading, trading at 60.2 HKD/share, with trading volume of 110 million HKD.

On the news front, PCB concept stocks continued the collective pullback from the prior session, with affiliate Kingboard Laminates having plunged over 11% the previous trading day, triggering significant sector linkage selling. Kingboard Holdings had previously set consecutive all-time highs, with the share price touching the upper bound of Citi's 65 HKD target price range, intensifying short-term profit-taking pressure.

On fundamentals, Kingboard Laminates has raised prices four times year-to-date with a cumulative increase exceeding 40%, driven by elevated copper prices and tight glass cloth supply. However, analysts note that upstream raw material costs including electronic cloth are surging while the supply-demand gap continues to widen, suggesting the market needs time to digest elevated valuations. Citi previously raised its target price from 48 HKD to 65 HKD with a Buy rating, but the stock's recent retreat from those levels reflects near-term consolidation needs.

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