HK Stock Market Move | KINGBOARD HLDG (00148) rose more than 4%. Nanya confirmed that the price hikes for copper foil base materials are indeed true. The tight supply-demand situation for CCL will persist for a longer time.

KINGBOARD HLDG (00148) rose over 4%, and as of the time of writing, it was up 4.49%, priced at HKD 47.9, with a trading volume of HKD 1.271 billion. In terms of news, according to a market media report on August 14, it has been circulating that Nanya has sent a price increase notice to customers. Due to significant increases in the costs of raw materials such as copper foil, fiberglass cloth, and resin, the selling prices of PCBs and substrates will increase by 20%, effective September 1. In response, Nanya has confirmed that the price increase is true, stating that they have adjusted product prices through negotiations with customers multiple times this year due to rising material costs. However, this document is not an official price increase notice issued by the company, and it has not uniformly and simultaneously raised prices by 20% for all customers. It is noteworthy that new generations of AI chips and server platforms from tech giants like Amazon, NVIDIA, and Google are expected to go into mass production in the second half of 2026, which will further amplify the demand for HVLP4 copper foil, a core substrate material. Shanxi previously pointed out that HVLP copper foil has high technical barriers, with production capacity concentrated among a few manufacturers and a lengthy expansion cycle. It is anticipated that from 2026 to 2027, there will continue to be a supply-demand gap for high-end copper foil. The firm believes that considering the strong sustainability of this AI-driven supercycle, the industry will remain in a period of rapid growth for the next 3 to 5 years, thus providing continued robust demand for high-end copper-clad laminates. It is expected that the supply-demand tightness in CCL will persist until 2027 or even longer.