On July 6, Kingboard Laminates rose 6.1% in regular trading, trading at HK$86.85/share, with turnover of HK$520 million. The rally was driven by the company officially issuing its sixth price increase notice this year, with only approximately 20 days since the previous round, setting a historical record for the shortest pricing cycle.

According to the notice, due to sustained market demand growth and tight supply of upstream core materials including glass cloth and copper foil, the company raised prices across all product lines effective immediately: FR-4 (above 1.3mm thickness) up 15%, CEM-1/22F boards up 10%, PP prepreg up 15%, and copper foil processing fees increased by RMB 5-8/KG depending on thickness. Previously, Citi raised its target price 20% to HK$120, maintaining a Buy rating with a forward P/E of 29x for fiscal year 2027, reflecting the positive earnings impact of continued price increases.

PCB concept stocks strengthened broadly, with parent company Kingboard Holdings rising nearly 5% in tandem, as AI server and high-speed switch demand continues to fuel a volume-and-price upcycle across the sector.

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