On July 10, Kingboard Holdings rose 5.29% in regular trading, trading at HK$80.15/share, with turnover of HK$310 million, extending the prior session's rebound momentum.

On the news front, major shareholder Hallgain Management Limited's stake has fallen to 31.54%, approaching the 30% mandatory general offer threshold. Citi believes Hallgain is unlikely to reduce holdings below 30%, signaling that the intensive selling cycle — which has cumulatively exceeded HK$9 billion since late June — is nearing its end, alleviating significant overhang pressure.

Simultaneously, subsidiary Kingboard Laminates issued its sixth price increase notice this year, raising copper-clad laminate product prices by 10%-15% across all categories, with electronic-grade fiberglass cloth also repricing upward. Additionally, the company signed a HK$6 billion five-year sustainability-linked syndicated loan to expand its AI new materials business. Citi expects first-half earnings may exceed forecasts, driven by higher-than-anticipated average selling prices for electronic-grade fiberglass cloth.

(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.)