Kingboard Holdings (148.HK) slid more than 7% in Hong Kong trading to HK$43.70, after surging nearly 3% earlier in the session in a sharp intraday reversal that saw the stock swing more than 10%. The stock had rallied in early trading alongside the broader PCB sector before abruptly reversing course.
Last week, the company issued an interim profit alert, forecasting first-half net profit of more than HK$2.7 billion, up roughly 4% year-over-year, with its copper clad laminate (CCL) segment profit soaring more than 200% from a year earlier. Driven by AI computing demand, electronic glass cloth prices rose 17%-18% month-over-month in August, opening a new round of price hikes for CCL products. Citi has previously highlighted Kingboard as a core beneficiary of the current fiberglass price upcycle, citing its vertically integrated supply chain.