Kingboard Holdings' stock price surged 5.01% during intraday trading on Wednesday, continuing its strong performance in the PCB sector.

The rally is driven by multiple catalysts. Geopolitical tensions in the Middle East have disrupted shipping through the Strait of Hormuz, forcing the shutdown of Saudi Arabia's Jubail industrial facilities that supply approximately 70% of global PPE resin — a core raw material for high-end PCBs. Meanwhile, Morgan Stanley's supply chain research indicates that Nvidia's next-generation VR200 AI chip carries PCB costs exceeding 233% higher than the prior GB300 generation, with total PCB value rising significantly.

Additionally, Kingboard's subsidiary KB Laminates has completed its fourth price increase this year, raising laminate prices by 10% across all series and prepreg products by 20%, citing elevated copper prices and tight glass cloth supply. This follows Citibank's recent upgrade, raising its target price for Kingboard to 90 HKD with a Buy rating and lifting earnings forecasts for the next three years.