On June 16, Kingboard Laminates rose 3.24% in regular trading, reaching HKD 83.3 per share with turnover of HKD 2.332 billion, extending its recent strong rally.

On the news front, Citigroup raised its target price for Kingboard Laminates from HKD 80 to HKD 100, maintaining a Buy rating, citing AI fiberglass cloth profitability stronger than expected. The bank also upgraded earnings forecasts for the company by 7%-16% for the period through fiscal year 2028. Citigroup has raised its target price multiple times over the past four months, starting from HKD 20.5, as the stock has surged approximately fivefold year-to-date.

The move is further supported by ongoing supply disruptions in PPE resin, with the Saudi Jubail industrial zone — which supplies approximately 70% of global high-purity PPE resin — remaining shut due to Middle East conflict. The company has completed four rounds of price hikes year-to-date, with cumulative board material increases exceeding 40%. Additionally, CCL capacity growth of just over 20% significantly lags downstream PCB expansion of over RMB 600 billion, pointing to potential supply allocation shortfalls in the third quarter.

(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.)