KB Laminates shares plunged 5.04% during intraday trading on Wednesday, extending a prolonged downtrend that has seen the stock fall more than 60% from its high of HK$107.

The decline comes amid mounting pressure from intensive director and major shareholder sell-downs. Controlling shareholder Kingboard Holdings has conducted two large-scale disposals this year, cashing out approximately HK$14.5 billion in total. Meanwhile, major shareholder Hallgain Management Limited and several directors have also been actively reducing their holdings, with executive director Cheung Ka Ho selling 1 million shares on July 20 at an average price of HK$42.10.

Broader sector weakness in PCB-related names added to the negative sentiment, as concerns over a potential price war triggered by concentrated release of forward PCB capacity combined with profit-taking during the interim results window. Other electronics component stocks also suffered, with Kingboard Holdings falling 3.55%, VGT dropping 4.29%, and Delton tumbling 7.82%.