On July 17, Kingboard Laminates fell 5.6% in regular trading, trading at 46.46 HKD/share, with turnover of HKD 451 million, extending a sharp decline from the prior session.

The stock continues to face dual headwinds. Multiple directors have been aggressively reducing holdings, with independent non-executive director Gong Yongde recently selling 50,000 shares, while executive directors Zhang Guoqiang and Zhang Guohua have cumulatively offloaded over one million shares since late June. The prior trading day saw the stock plunge over 13%, triggered by New York State Governor Kathy Hochul signing an executive order banning construction of data centers consuming 50 megawatts or more of power for one year — the first such prohibition in the United States. Morgan Stanley noted this regulatory headwind could impact the timing and intensity of AI capital expenditure cycles.

Peer stock Kingboard Holdings also declined 4.93% on the day, with the Electronic Components sector broadly under pressure. Southbound funds were net sellers of Kingboard Laminates on July 16, reflecting institutional de-risking across AI hardware names.

(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.)