HK Stock Market Move | The morning session saw a rise in the price of KB LAMINATES (01888) by over 7%. Goldman Sachs is bullish on the Chinese PCB and CCL industries.

In the morning session, KB LAMINATES (01888) rose by 5.47% to HK$15.23, while KINGBOARD HLDG (00148) rose by 1.67% to HK$31.62 as of the time of writing. On the news front, on January 20, Goldman Sachs released a research report stating that the Chinese PCB (printed circuit board) and CCL (copper clad laminate) industries are experiencing a "dual trend of acceleration and scale" driven by the outbreak of AI infrastructure. Top enterprises are continuously reaping growth dividends by upgrading specifications, increasing shipment volume, and expanding production capacity. Cathay Haitong stated that since the second half of 2025, KB LAMINATES has raised prices three times in August, October, and early December, and raised prices again in December, exceeding expectations twice within the month. This signifies that the entire industry chain is entering a benign price increase cycle driven by the prosperity of AI. The company also has a layout in copper foil, electronic cloth, and copper clad laminates, and as a leader in industry integration, it is expected to benefit from the price increase cycle across all links.