HK Stock Market Move | CNBM (03323) rose more than 9% in early trading, with increases in fiberglass and electronic fabric prices being smoothly passed on. Institutions point out that CNBM has a leading advantage.

CNBM (03323) rose more than 9% in early trading, rising 7.87% at the time of publication to HKD 5.62, with a trading volume of HKD 329 million. On the news front, the continued rise in prices of upstream raw materials such as electronic cloth and electronic resins has driven the price increase of copper-clad laminates, with smooth transmission in the industrial chain. Institutions pointed out that KB LAMINATES announced a 15% price increase for all thickness FR-4 copper-clad laminates and PP semi-cured sheets on June 16, while the price of 7628 electronic cloth has risen by over 70% since the beginning of the year. Public information shows that China Jushi Co., Ltd, a subsidiary of CNBM, is the world's largest producer of electronic cloth, with a market share of 23% in the global electronic glass fiber market and an annual production of approximately 1.3 billion meters of electronic cloth. In addition, Sinoma Science & Technology's special fiber cloth products have completed certification from top customers at home and abroad and are being supplied in batches. According to Huatai's previous research report, CNBM has a leading advantage in the glass fiber field, holding 60.24% of Sinoma Science & Technology and 29.22% of China Jushi Co., Ltd.