Kingboard Holdings tumbles 8% after reversing PCB-sector gains

Kingboard Holdings (148.HK) tumbled 8% in Hong Kong trading to HK$43.28. The stock had risen earlier in the session tracking gains in the PCB sector before reversing sharply.

The company issued a profit alert in early August, expecting interim net profit to exceed HK$2.7 billion, up more than 4% year-over-year. Profit from its copper-clad laminate (CCL) segment surged more than 200%, driven by AI-related demand and rising prices of electronic yarn and CCL. Citi previously noted that electronic yarn prices rose 17% to 18% month-over-month in August, signaling a fresh round of CCL price increases.