KINGBOARD HLDG (00148) surged 5.04% during intraday trading, extending its recovery from a deep pullback. The stock has been rebounding technically after falling over 60% from its June peak.

The rally comes as August electronic fabric prices across three major series jumped 17%-18% month-over-month, accelerating cost transmission to the copper clad laminate (CCL) segment and opening a new window for price hikes. Citigroup expects major CCL producers to raise product prices by approximately 10%-15% in August. Additionally, the company previously issued a positive profit alert, forecasting H1 net profit to exceed 2.7 billion HKD, with the CCL segment profit surging over 200% year-over-year. Interim results are scheduled for release later this month, providing near-term support.

However, major shareholders have cumulatively cashed out an estimated over 20 billion HKD this year, with disposals concentrated around the June peak, which continues to weigh on market sentiment despite the current upswing.