--- title: "Hong Kong stock movement: KB LAMINATES fell 15.20%, New York State's ban on building data centers puts pressure on AI hardware stocks" type: "News" locale: "en" url: "https://longbridge.com/en/news/293003295.md" description: "KB LAMINATES fell 15.20%; Kingboard Chemical Holdings fell 10.47%, with a transaction amount of HKD 2.284 billion; Shenghong Technology fell 10.30%, with a transaction amount of HKD 973 million; Sunny Optical Technology fell 4.43%, with a transaction amount of HKD 766 million; Luxshare Precision fell 10.92%, with a market value of HKD 412.9 billion" datetime: "2026-07-17T07:57:38.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293003295.md) - [en](https://longbridge.com/en/news/293003295.md) - [zh-HK](https://longbridge.com/zh-HK/news/293003295.md) generator: "portal-rs" --- # Hong Kong stock movement: KB LAMINATES fell 15.20%, New York State's ban on building data centers puts pressure on AI hardware stocks **Hong Kong Stock Movement** KB LAMINATES fell 15.20%. Based on recent key news: 1. On July 16, the Governor of New York signed an executive order prohibiting the construction of large data centers, affecting AI hardware stocks, and KB LAMINATES fell 13.3%. Source: Zhitong Finance 2. On July 14, KB LAMINATES announced its sixth price increase for products, reflecting tight supply and demand for raw materials and increased market demand. Source: You Analysis 3. On July 13, independent non-executive director Gong Yongde of KB LAMINATES reduced his holdings by 50,000 shares, affecting market confidence. Source: Zhitong Finance. AI hardware stocks are experiencing increased volatility due to policy impacts. **Stocks with High Trading Volume in the Industry** Kintor Pharmaceutical fell 10.47%, with a trading volume of HKD 2.284 billion, and no significant news recently. The trading is active, with clear capital flow. Considering the sector and industry trends, this stock shows significant volatility, and specific reasons need further observation. Shenghong Technology fell 10.30%. Based on recent key news: 1. On July 14, Shenghong Technology clarified negative rumors circulating online about the company's products and market share, stating that the content is severely inaccurate, affecting the company's reputation and operational order. The company emphasized that its cooperation with leading AI clients is solid, and orders continue to grow. This news led to stock price fluctuations. 2. On July 14, market rumors suggested that NVIDIA might stop cooperating with Shenghong Technology due to product quality issues, involving an amount of approximately RMB 5 billion. Shenghong Technology clarified that the rumors are untrue and reserves the right to pursue legal action. 3. On July 14, the PCB industry faced rising raw material prices and tight supply, leading to market sensitivity regarding expectations for leading companies. Shenghong Technology previously experienced stock price fluctuations due to personal events involving its chairman, raising doubts about its stability. The PCB industry is highly competitive, with rising raw material prices. Sunny Optical Technology fell 4.43%. Based on recent news: 1. On July 15, Mizuho Securities lowered the target price for Sunny Optical Technology from HKD 527 to HKD 516, maintaining a buy rating. The target price reduction reflects market concerns about the company's future profitability, leading to a decline in stock price. 2. On July 15, the company announced its 2025 annual report, showing a year-on-year revenue increase of 21.7% to RMB 567 million, but a net loss narrowed to RMB 49.35 million. High-frequency capital flows and discounted financing highlighted liquidity issues for medium-sized digital infrastructure companies, further undermining market confidence. 3. Recently, market sentiment towards technology stocks has been cautious, with investors' risk appetite for high-valuation technology stocks declining, putting pressure on Sunny Optical Technology's stock price. Overall sentiment in technology stocks is cautious, with liquidity tightening. **Stocks with High Market Capitalization in the Industry** Luxshare Precision fell 10.92%. Based on recent news: 1. On July 14, Hong Kong stock investors held a cautious attitude towards high-valuation targets, leading to well-known companies like Luxshare Precision failing to gain a premium in the secondary market, affecting stock price performance 2. On July 14th, Luxshare Precision raised approximately HKD 24 billion in its Hong Kong stock market listing, mainly for expanding automotive electronics and consumer electronics production capacity and upgrading production bases. However, the high issuance price compressed the imagination space in the secondary market, leading to a decline in stock prices. 3. On July 14th, Bank of New York Mellon increased its stake in Luxshare Precision's H shares from 6.18% to 9.57%, indicating institutional investors' confidence in its future development, but it failed to boost the stock price in the short term. 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