HK Stock Market Move | CNBM (03323) rose over 8% during trading hours. The major electronic fabric factory announced a price increase. Citigroup pointed out that the stock price does not fully reflect the revaluation of related assets.

CNBM(03323) surged more than 8% during trading, as of the time of writing, it was up 6.71%, at 5.25 Hong Kong dollars, with a trading volume of 2.21 billion Hong Kong dollars. On the news front, it was reported that due to rising manufacturing costs and market demand exceeding supply, electronic cloth factory Fu Qiao Industrial recently issued a price increase notice to customers, announcing a 15% to 30% price increase for its electronic cloth products, with the new prices to take effect from July 1, 2026. China Post Securities believes that given the current tight supply and demand situation in the electronic cloth market, the pace of price increases is expected to continue until the end of the year, with the potential for the price increase to exceed expectations. It is reported that CNBM's subsidiaries China Jushi Co., Ltd and Sinoma Science & Technology cover both the general and high-end electronic cloth tracks, benefiting fully from the current industry shortage. Citigroup recently pointed out that despite CNBM's increasing exposure in the electronic cloth and new materials industries, its stock price has not fully reflected the revaluation of related assets. The bank has included CNBM on its list of 90-day upward catalyst observations, reaffirming a "buy" rating with a target price of 7.3 Hong Kong dollars.