KINGBOARD HLDG

Kingboard Holdings opened at HK$43.80 and traded narrowly in the morning session, last at HK$44.72, down 6.83% from the previous close of HK$48.00, with an intraday range of HK$43.32 to HK$45.14. Ongoing weakness in the PCB sector and Chairman Cheung Kwok Wing's sale of 100,000 shares on July 27 for HK$6.4166 million weighed on sentiment. Despite Q4 2025 net profit surging 1374.83% YoY to HK$910 million, EPS up 1374.97% to HK$0.82, operating profit fell 20.37% YoY to HK$877 million, with a net margin of only 7.66%. The stock trades 70.54% below its 52-week high of HK$151.80, though YTD is still up 51.18%, and has broken below both the MA20 (HK$68.16) and MA60 (HK$73.58). However, the board is considering an interim dividend, with a dividend yield of 4.86% and a PB of 0.78x.

Kingboard Holdings (148.HK) opened lower and continued to decline in the morning session, closing at HK$44.30, down 5.02% from the previous close of HK$46.64, mainly due to a broad PCB sector weakness. The stock retreated from an opening of HK$45.84 to hit an intraday low of HK$44.22, with turnover surging to approximately HK$100.5 million, about 2.55 times yesterday's volume. Despite Q4 net profit surging 1374.83% YoY to HK$910 million, with EPS of HK$0.8186, operating profit still fell 20.37% YoY and net profit margin was only 7.66%, raising concerns about earnings quality. The stock is now 70.82% below its 52-week high of HK$151.8 and well below its 20-day MA of HK$71.74 and 60-day MA of HK$73.57, indicating a weak technical position. However, it still retains a 49.76% YTD gain, with a PB of 0.77x and PE of 11.29x, suggesting valuation remains at a historical low range.

Kingboard Holdings opened at HKD 47.74 today, down 5.2% from the previous close of HKD 50.35, with an intraday low matching the open price and a thin volume of 484,000 shares, reflecting cautious market sentiment. The PCB sector has been under pressure recently, with the company's strategic investment in Jialichuang raising liquidity concerns, Chairman Cheung Kwok Wing's sale of 100,000 shares for HKD 6.4166 million, and southbound funds recording a net sell-off of HKD 42.26 billion, all contributing to the decline. Financially, Q4 2025 net profit surged 1374.83% YoY to HKD 909.98 million, while revenue grew 4.8% YoY to HKD 11.88 billion, but operating income fell 20.37% YoY and net profit margin was only 7.66%. The stock at HKD 47.76 is 68.54% below its 52-week high of HKD 151.8, though it has rallied 97.76% from the 52-week low of HKD 24.15, and trades well below the MA20 (HKD 75.903) and MA60 (HKD 73.614). However, the PB of 0.83x and dividend yield of 4.55% suggest some valuation support.

Kingboard Holdings saw a sharp intraday sell-off during the morning session, plunging from its opening price of HKD 59.2 to a low of HKD 54.15, closing the period at HKD 54.2, down 5.0% from the previous close. The stock had previously hit a 52-week high of HKD 151.8 on June 21, driven by the AI PCB theme, but has since experienced a heavy correction, now trading 64.3% below that peak and well below its 20-day moving average of HKD 83.92. Recent news of Chairman Cheung Kwok Wing's share disposal of approximately HKD 6.4 million, combined with delays in AI server projects and sector-wide weakness in PCB stocks, have fueled selling pressure. Despite the company's latest quarterly net profit surging by 1,374.8% YoY to HKD 910 million, with EPS of HKD 0.82, operating profit fell 20.4% YoY, indicating margin pressure. The stock trades at a P/B of 0.94x and offers a dividend yield of 4.01%, though the near-term momentum remains bearish.

Kingboard Holdings rebounded sharply in the morning session, climbing from 52.20 HKD to a high of 55.80 HKD before settling at 55.25 HKD, a 6.04% gain, driven by a technical bounce after two consecutive days of steep declines and strong quarterly earnings. Q4 2025 net profit surged 1,374.83% year-on-year to 909.98 million HKD, with EPS of 0.8186 HKD, partially offsetting selling pressure from recent executive disposals (Chairman Cheung Kwok Wing unloaded 100,000 shares for 6.42 million HKD) and weakness in the AI PCB sector. Despite the rebound, the stock remains 63.54% below its 52-week high of 151.80 HKD and trades well below both its 20-day (87.52 HKD) and 60-day (73.41 HKD) moving averages, suggesting the medium-term downtrend remains intact.