Citigroup has issued a research report, increasing its profit forecasts for KINGBOARD HLDG (00148) for 2026 to 2028 by 50% to 61%. The target price has been raised from HK$48 to HK$65. This adjustment is due to shortages in glass fiber, copper foil, and copper-clad laminate (CCL) driven by the investment surge in AI infrastructure, leading the bank to also raise its profit forecast for KINGBOARD LAMINATE (01888). The report anticipates that KINGBOARD HLDG's profit structure will increasingly tilt toward its laminate board business, with the proportion of net profit contributed by this segment expected to surge from 38% in 2025 to 87% by 2028. Furthermore, the bank views KINGBOARD HLDG's current valuation as unreasonable. It suggests that for investors who missed the strong rally of KINGBOARD LAMINATE in April, KINGBOARD HLDG presents a good opportunity to catch up, reiterating a "Buy" rating.