Kingboard Laminates (1888.HK) tumbled 8% to HK$39.10 in Hong Kong trading, as the stock hit an intraday low of HK$38.50 on turnover of roughly HK$2.96 billion.

The decline tracked a broader selloff in Hong Kong-listed PCB stocks, with peers including Kingboard Holdings (0148.HK) also posting losses.

Despite the pullback, brokerages remain constructive. UBS and Bank of America Securities both initiated coverage with buy ratings and price targets of HK$58 and HK$53, respectively, citing tight supply in copper-clad laminates driven by AI demand. Citi cut its target to HK$92 with a buy/high-risk rating, expecting second-half net profit growth of roughly 2.8 times year on year.

CICC noted Kingboard Laminates may be added to the Hang Seng Tech Index upon its upcoming expansion.