Understanding the Market | KB LAMINATES rose over 5% during trading as AI industry development supports PCB market growth; institutions are optimistic about its benefits from price increases in the second half of the year
KB LAMINATES rose over 5% during trading, and as of the time of writing, it is up 4.02%, priced at HKD 12.95, with a transaction volume of HKD 160 million. SYE expects its revenue in the first three quarters of 2025 to grow by 108% to 121% year-on-year, with net profit attributable to the parent company expected to increase by 476% to 519% year-on-year. The development of the AI industry supports the growth of the PCB market, with a projected global PCB market value growth of 7.6% in 2025. Dongxing Securities pointed out that the rising demand for PCBs and high raw material prices will improve CCL profit margins, driving performance releases in the second half of the year. KB LAMINATES has developed high-end copper foil, which is expected to further enhance performance in the future
According to Zhitong Finance APP, KB LAMINATES (01888) rose more than 5% during the session, and as of the time of publication, it was up 4.02%, trading at HKD 12.95, with a transaction volume of HKD 160 million.
In terms of news, on the evening of October 23, SYE released a performance forecast for the first three quarters of 2025, expecting to achieve revenue of RMB 6.614 billion to RMB 7.034 billion, a year-on-year increase of 108% to 121%; and a net profit attributable to the parent company of RMB 1.074 billion to RMB 1.154 billion, a year-on-year increase of 476% to 519%. In its 2025 semi-annual report, SYE mentioned that the rapid development of the AI industry is sufficient to support the growth of the PCB market, with a projected global PCB market value growth of 7.6% in 2025, reaching USD 79.128 billion.
Kuyuan Securities pointed out that the upward demand for PCBs and high raw material prices may support smooth price transmission in the second half of 2025, thereby improving CCL profit margins and driving performance release in the second half of the year. The 800,000 CCL capacity in Thailand is expected to gradually come online in 2026, and the expansion of fiberglass cloth will alleviate supply bottlenecks and consolidate cost advantages, while the performance outlook still depends on copper price trends and the sustainability of PCB demand. In terms of high-end products, KB LAMINATES has successfully developed HVLP3 copper foil and ultra-thin VLP copper foil for IC packaging substrates, with high-end copper foil certified for multiple global top-tier tier 1 and communication terminal customers; the first kiln for low dk glass fiber has been put into production in the first half of 2025, with three additional kilns expected to be added in the second half of 2025, capable of producing second-generation glass fiber; and another six high-end kilns are expected to be put into production in 2026, producing low dielectric, low expansion, and quartz glass fiber
