Understanding the Market | KB LAMINATES Rises Over 6% as PCB Industry Chain Shows Upward Trend; Institutions Optimistic About Its Performance Growth Potential
KB LAMINATES' stock price rose by more than 6%, with an increase of 6.61% as of the time of publication, trading at HKD 14.18, with a transaction volume of HKD 437 million. The overall performance of the PCB industry chain is experiencing high growth, with the expansion trend transmitting to upstream equipment and materials, and an AI-driven high-end transformation is underway. Guojin Securities and Guotai Junan Securities are both optimistic about the company's performance growth, believing that product upgrades and the price increase of copper-clad laminates will drive performance improvement. Kaiyuan Securities pointed out that the company has developed high-end copper foil and will launch multiple high-end glass fiber production lines in the future
According to Zhitong Finance APP, KB LAMINATES (01888) rose over 6%, with a current increase of 6.61%, priced at HKD 14.18, and a trading volume of HKD 437 million.
In terms of news, reports indicate that as of October 27, more than 10 listed companies in the PCB industry chain, including Shengyi Electronics, have disclosed their third-quarter reports or performance forecasts for the first three quarters, showing a high growth trend in the industry overall. Meanwhile, the expansion wave in PCB production is shifting from the manufacturing segment to the upstream equipment and materials sector, with a high-end transformation driven by AI fully unfolding in this traditional industry. Additionally, Guojin Securities pointed out that if M9 is confirmed, it will bring material solution upgrades, such as copper foil potentially leaning towards HVLP4, and electronic cloth being Q cloth + second-generation cloth.
CITIC Securities previously noted that the company is one of the leading companies in the copper-clad laminate industry, with an integrated layout of upstream materials creating differentiated barriers. The synchronous upgrade of electronic cloth and copper foil copper-clad laminates, along with an optimistic outlook on the traditional copper-clad laminate supply-demand pattern and new price trends, is expected to contribute to the company's performance growth momentum. Kaiyuan Securities believes that in terms of high-end products, KB LAMINATES has successfully developed HVLP3 copper foil and ultra-thin VLP copper foil for IC packaging substrates. High-end copper foil has been certified for entry into several global top-tier tier 1 and communication terminal customers; the first kiln for low dk glass fiber is expected to be 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
