HK Stock Market Move | KINGBOARD HLDG (00148) rises more than 9% to hit a new high, cashing out nearly HK$11.8 billion to be invested in upgrading the PCB business.

KINGBOARD HLDG (00148) rose more than 9%, reaching a high of 127.3 Hong Kong dollars, hitting a record high once again. As of the time of writing, it is up 8.5% at 126.4 Hong Kong dollars, with a turnover of 5.396 billion Hong Kong dollars. In terms of news, KINGBOARD HLDG recently announced that it plans to sell 155 million shares of KB LAMINATES through a block trade, raising approximately HKD 11.78 billion in cash, with funds being primarily invested in the expansion and upgrade of the Printed Circuit Board (PCB) business. Benefiting from the surge in demand for AI data centers this year, prices of electronic glass fiber cloth and covered copper plates continue to rise, leading to KB LAMINATES' stock price soaring more than six times this year. It is worth mentioning that on June 16, KB LAMINATES announced its fifth price increase letter this year. Citibank previously pointed out that around 85% of KINGBOARD HLDG's core net profit in 2028 will come from the laminated board/printed circuit board business, which is higher than the approximately 60% in 2025.