<div id="readability-page-1"><div>KB LAMINATES (01888.HK) +5.650 (+10.098%) Short selling $546.45M; Ratio 11.340% opened 4.74% higher today (9th) and once surged 13.2% to a record high of HKD63.35. It last traded at HKD61.25, up 9.47%, with 37.738 million shares traded, involving HKD2.319 billion in turnover.Citi said in a research report that KB Laminates typically issues a positive profit alert about one month before results announcements when earnings record more than 30% YoY growth. Therefore, the broker expects the company to issue a strong profit alert for 1H26 results in mid-Jul. Based on stronger-than-expected inflation in the average selling price of upstream electronic glass fiber cloth, which is expected to drive another price hike for copper-clad laminates by end-Jun, Citi raised its earnings forecasts for 2026 to 2028 by 6% to 18%.Citi forecast that KB Laminates' net profit for 1H26 will surge 273% YoY to HKD3.48 billion, while revenue will rise 74% YoY to HKD16.6 billion. The 1H earnings performance is expected to exceed the full-year 2025 net profit of HKD2.49 billion. Net profit margin is projected to more than double from 9.7% in 1H25 to 20.9%. The broker added that strong operating leverage is mainly driven by: a 60% to 95% year-to-date increase in the average selling price of electronic glass fiber cloth; FR4 copper-clad laminate ASP jumping more than 60% from RMB110 per sheet in 2025 to RMB180 to RMB190 currently; and significant expansion in gross margin resulting from soaring prices of glass fiber cloth and FR4 copper-clad laminates.The broker expects the company’s gross margin to enter an upcycle, reaching 33.7%, 35.6% and 37.3% in 2026, 2027 and 2028, respectively, exceeding the historical peak of about 34% in 2021.Citi maintained its Buy rating on KB LAMINATES (01888.HK) +5.650 (+10.098%) Short selling $546.45M; Ratio 11.340% and raised the TP from HKD76 to HKD80. (ad/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-06-08 16:25.)</div></div>

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KB LAMINATESsurged over 9% to a record high, prompting Citi to raise its target price to HKD80 and maintain a Buy rating. Citi expects a strong H1 2026 profit alert in mid-July, driven by soaring upstream costs and ASP hikes. Forecasts indicate H1 net profit will surge 273% YoY to HKD3.48 billion, with gross margins entering an upcycle exceeding historical peaks through 2028.

KB LAMINATES Jumps Over 9% to Record High; Citi Raises TP to HKD80, Expects Strong 1H26 Profit Alert in Mid-Jul