PCB-related stocks opened lower but rebounded this morning. As of the time of writing, $KINGBOARD HLDG (00148.HK)$soared over 18%, $DELTON (01989.HK)$ with gains of nearly 5%, $KB LAMINATES (01888.HK)$ Increasing over 3%, $VGT (02476.HK)$ Up nearly 3%.
According to media reports, Kingboard Laminates, a leading manufacturer of copper-clad laminates, has issued another price increase notice. Soaring copper prices, persistently rising glass cloth costs, and extremely tight supply have sharply increased production costs for copper-clad laminates. The company announced a 15% price hike across all FR-4 and prepreg (PP) products. Notably, this marks the fifth price increase by Kingboard this year, with cumulative product price increases exceeding 50%. Citi previously stated it has raised its earnings forecasts for Kingboard Holdings for 2026–2028 by 34% to 53%, primarily driven by stronger-than-expected price increases in electronic fiberglass cloth at Kingboard Laminates.
Kingboard Holdings announced this morning that it plans to place 155 million shares of Kingboard Laminates held by its wholly owned subsidiary, Kingboard Investments, representing approximately 4.92% of Kingboard Laminates’ total issued share capital. The placement price is set at HK$76 per share, representing a discount of approximately 11.5% to Kingboard Laminates’ closing price yesterday. The net proceeds from the placement are estimated to be approximately HK$11.766 billion, which will be used to invest in printed circuit board (PCB) operations to enhance capabilities in multilayer and high-density interconnect (HDI) PCB products, expand production capacity to meet market demand, accelerate R&D to drive product innovation and upgrades, repay existing bank loans, and for other general corporate purposes.