KB LAMINATES (01888) rose nearly 6% in the morning session, with its stock price climbing 4.01% in the afternoon to trade at HKD 12.96, and a turnover of HKD 178 million.

In December 2025, due to rising copper prices and tight glass cloth supply, the copper-clad laminate industry leader KB LAMINATES issued a price increase notice to its customers. The company stated that it could no longer absorb the rising raw material costs and would implement a comprehensive 10% price hike on materials for new orders. It is noteworthy that this marks the third price increase initiated by KB LAMINATES since the second half of 2025. China Merchants Securities predicts that "price increases" will be the main theme for the CCL industry from 2025 to 2026.

A research report from Sinolink Securities noted that strong AI demand is driving both prices and volumes higher for PCBs. Currently, many AI-PCB companies are experiencing robust order books, operating at full capacity with sold-out production, and are actively expanding their production lines. High earnings growth is expected to continue into the fourth quarter and next year. Demand for AI-related copper-clad laminates is also strong. Given the slow capacity expansion of overseas CCL manufacturers, leading mainland Chinese CCL producers are poised to benefit significantly.