HK Stock Market Move | CNBM (03323) rose nearly 9% again, with the expected increase in both the volume and price of fiberglass driving the company's new growth.

CNBM (03323) rose by nearly 9%, as of the time of writing, it had increased by 8.92% to HK$5.86, with a turnover of HK$4.7 billion. On the news front, since October 2025, the electronic cloth market prices have started to rise continuously. It is reported that electronic cloth has entered a monthly pricing adjustment mode since the beginning of the year, with prices being raised four times consecutively. Domestic leading electronic cloth manufacturers are leveraging their respective technological advantages and capacity layouts, becoming indispensable "selling shovels" in this round of AI hardware competition. Huatai believes that the company will further optimize and enhance asset quality by the end of the "14th Five-Year Plan", laying a good foundation for the start of the "15th Five-Year Plan". Meanwhile, fiberglass and carbon fiber have recently started a new round of price increases, and it is optimistic that new materials and overseas markets will lead the company into a new growth stage. Morgan Stanley pointed out that CNBM recorded a net loss of RMB 177 million in the first quarter, compared to a loss of RMB 517 million in the first quarter of 2025, which is in line with the preliminary performance forecast. The report attributes the improved performance to the increase in average selling price of glass fiber, cost reduction, and growth in sales of electronic fiber and battery separators, offsetting the decrease in average price of cement and the reduction in profit in the engineering sector. Morgan Stanley expects this trend to continue in the second quarter, with growth in sales volume and average price in the new materials business.