HK Stock Market Move | CNBM (03323) rose more than 5% against the market trend, and the prices of high-end varieties of fiberglass core have been adjusted upward again. Institutions are optimistic about the company's continued increase in high-performance electronic cloth.

CNBM (03323) rises more than 5% against the market trend. As of the time of publication, it has risen by 4.77%, with the price at 5.27 Hong Kong dollars and a trading volume of 1.48 billion Hong Kong dollars. On the news front, according to Securities Times, the overall operation of China's glass fiber industry in 2025 has improved compared to the previous two years. Guosheng pointed out that from March 30 to April 3, the prices of various types of electronic yarn/cloth rose again, with the price of G75 yarn increasing by 500-1000 yuan/ton, and the price of 7628 electronic cloth increasing by 0.5 yuan/meter. The prices of high-end varieties also showed significant increases. Under the current situation of supply shortage, the process of implementing new prices is expected to accelerate. Downstream CCL orders are full, and the growth rate of supply-side production remains slow, with low inventory levels continuing and most sources of goods remaining in short supply. Huatai stated that CNBM's new materials sector is expected to achieve an income of 55.557 billion yuan in 2025, a year-on-year increase of 14.4%, with an operating profit of 6.258 billion yuan, a year-on-year increase of 11.8%. In terms of products, the sales volume/average price of glass fiber are up by 3.1%/12.8% year-on-year, achieving a simultaneous increase in quantity and price. Ordinary and high-performance electronic cloth are expected to open up new growth space for the glass fiber sector. The bank believes that with the completion of the world's first zero-carbon smart manufacturing glass fiber base, the continuous increase in production of high-performance electronic cloth, the company's profitability in the new materials business is expected to continue to improve in 2026.