Kingboard Holdings Limited (HK:0148)
:0148
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Kingboard Holdings
(0148)
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Rating:65Neutral
Price Target:
HK$51.00
â–²(75.86% Upside)
Action:ReiteratedDate:04/25/26
The score is mainly held back by weakened cash generation and negative 2025 free cash flow despite a solid balance sheet and improving 2025 profitability. Technicals show strong upside momentum but are stretched (high RSI/Stoch), while valuation is supportive with a low P/E and a moderate dividend yield.
Positive Factors
Balance Sheet Strength
Controlled leverage and a meaningful equity base provide resilience across cycles. A debt-to-equity range near 0.3 supports financial flexibility for working-capital swings, selective capex or dividends, and reduces refinancing risk, underpinning durable solvency over the next several quarters.
Negative Factors
Weak Cash Generation / Negative FCF
A sharp drop in operating cash flow and 2025 negative free cash flow undermine financial flexibility. Persistent weak cash conversion raises reliance on external funding or asset sales for capex and dividends, increasing funding and execution risk over the coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
Controlled leverage and a meaningful equity base provide resilience across cycles. A debt-to-equity range near 0.3 supports financial flexibility for working-capital swings, selective capex or dividends, and reduces refinancing risk, underpinning durable solvency over the next several quarters.
Read all positive factors
Kingboard Holdings (0148) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$53.18B
Dividend Yield5.88%
Average Volume (3M)3.03M
Price to Earnings (P/E)7.4
Beta (1Y)1.25
Revenue Growth5.29%
EPS Growth169.98%
CountryHK
Employees33,000
SectorIndustrials
Sector Strength72
IndustryConglomerates
Share Statistics
EPS (TTM)1.64
Shares Outstanding1,108,311,800
10 Day Avg. Volume4,146,075
30 Day Avg. Volume3,025,134
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)0.50
Price to Sales (P/S)0.72
P/FCF Ratio-34.12
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)4.18
Revenue Forecast (FY)HK$53.47B
Kingboard Holdings Business Overview & Revenue Model
Company Description
Kingboard Holdings Limited, an investment holding company, manufactures and sells laminates and printed circuit boards. The company also offers chemical products, including methanol, benzene, glacial acetic acid, propylene, methyl tert-butyl ether...
How the Company Makes Money
Kingboard makes money primarily by manufacturing and selling electronics materials and industrial chemicals. A key revenue stream comes from copper clad laminates (CCL) and related PCB upstream materials, which are supplied to PCB manufacturers an...
Kingboard Holdings Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
72
Positive
Cash Flow
45
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 45.38B | 43.09B | 39.71B | 49.38B | 56.76B |
| Gross Profit | 7.93B | 8.49B | 7.59B | 12.37B | 18.82B |
| EBITDA | 6.50B | 6.99B | 5.90B | 8.91B | 17.54B |
| Net Income | 4.40B | 1.63B | 2.06B | 3.66B | 10.78B |
Balance Sheet | |||||
| Total Assets | 103.88B | 97.78B | 98.97B | 97.29B | 103.82B |
| Cash, Cash Equivalents and Short-Term Investments | 11.96B | 10.84B | 12.99B | 11.40B | 10.07B |
| Total Debt | 22.80B | 21.71B | 22.93B | 19.76B | 18.42B |
| Total Liabilities | 34.04B | 33.05B | 34.53B | 32.60B | 35.13B |
| Stockholders Equity | 64.67B | 59.82B | 59.74B | 60.06B | 63.02B |
Cash Flow | |||||
| Free Cash Flow | -953.81M | 1.54B | 1.18B | 5.29B | 5.58B |
| Operating Cash Flow | 2.96B | 5.76B | 5.31B | 10.58B | 9.50B |
| Investing Cash Flow | -3.99B | -1.51B | -8.24B | -5.33B | -6.01B |
| Financing Cash Flow | -1.04B | -3.56B | 622.28M | -3.77B | -4.67B |
Kingboard Holdings Technical Analysis
Positive
29.00
Price Trends
36.25
Positive
32.07
Positive
29.32
Positive
Market Momentum
1.12
Negative
64.94
Neutral
79.63
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0148, the sentiment is Positive. The current price of 29 is below the 20-day moving average (MA) of 36.60, below the 50-day MA of 36.25, and below the 200-day MA of 29.32, indicating a bullish trend. The MACD of 1.12 indicates Negative momentum. The RSI at 64.94 is Neutral, neither overbought nor oversold. The STOCH value of 79.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0148.
Kingboard Holdings Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | HK$381.08B | 5.51 | 5.53% | 5.15% | 2.24% | 1.42% | |
65 Neutral | HK$53.18B | 7.39 | 6.92% | 5.88% | 5.29% | 169.98% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | HK$40.05B | 7.30 | 5.66% | 4.94% | 3.77% | -1.53% | |
60 Neutral | HK$16.78B | 7.75 | 4.07% | 6.37% | -27.96% | -28.06% | |
46 Neutral | HK$1.21B | 1.27 | -3.46% | 3.80% | 10.38% | 7.39% | |
42 Neutral | HK$33.62B | -1.40 | -21.69% | 0.44% | -9.73% | -440.87% |
* Industrials Sector Average
HK:0148
Kingboard Holdings
47.98
28.47
145.91%
HK:0392
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31.84
1.84
6.13%
HK:0267
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13.10
4.12
45.90%
HK:0656
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2.69%
HK:0363
Shanghai Industrial Holdings
15.43
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40.07%
HK:0025
Chevalier International Holdings Limited
4.02
0.22
5.79%
Kingboard Holdings Corporate Events
Kingboard Sets 2026 AGM to Seek Director Re-election, Dividends and New Share Mandate
Apr 22, 2026
Kingboard Holdings has called its annual general meeting for 26 May 2026 in Hong Kong, where shareholders will review the audited financial statements for the year ended 31 December 2025 and vote on a proposed final and special final dividend. Inv...
Kingboard to Offload 4.15% Stake in Kingboard Laminates via Discounted Block Trade
Mar 17, 2026
Kingboard Holdings has agreed to sell up to 130 million shares in its subsidiary Kingboard Laminates Holdings via a block trade arranged by Citigroup Global Markets, representing about 4.15% of KLHL’s issued share capital. The shares will be...
Kingboard Holdings posts strong 2025 profit rebound and boosts dividend
Mar 16, 2026
Kingboard Holdings reported a 5% rise in 2025 revenue to HK$45.38 billion, with underlying net profit attributable to shareholders surging 207% to HK$4.98 billion and reported net profit climbing 170% to HK$4.40 billion. Earnings growth was suppor...
Kingboard Holdings Declares Final HKD 1.11 Dividend for 2025
Mar 16, 2026
Kingboard Holdings Limited has declared a final ordinary cash dividend of HKD 1.11 per share for the financial year ended 31 December 2025, subject to shareholder approval on 26 May 2026. The dividend will be paid in Hong Kong dollars on 8 July 20...
Kingboard Holdings Declares Special Final Dividend of HKD 0.4 Per Share for 2025
Mar 16, 2026
Kingboard Holdings Limited has declared a special final dividend of HKD 0.4 per share for the financial year ended 31 December 2025, subject to shareholder approval at a meeting scheduled for 26 May 2026. The move underscores the company’s w...
Kingboard Holdings Updates Cayman Registered Office Address
Mar 5, 2026
Kingboard Holdings Limited has changed its registered office address in the Cayman Islands to a new location at JTC (Cayman) Limited in Camana Bay, Grand Cayman, as approved by its board of directors. The move represents a formal corporate adminis...
Kingboard reshapes board with new independent director and committee changes
Feb 27, 2026
Kingboard Holdings announced that independent non-executive director Cheung Ming Man will resign from the board with effect from 28 February 2026 so he can devote more time to other commitments. His departure will also see him step down as chairma...
Kingboard clarifies board and committee structure in governance update
Feb 27, 2026
Kingboard Holdings has announced the current composition of its Board of Directors, led by Chairman Cheung Kwok Wing and Managing Director Chang Wing Yiu, alongside five other executive and four independent non-executive directors. The disclosure ...
Kingboard Sets March Board Meeting to Approve 2025 Results and Consider Final Dividend
Feb 24, 2026
Kingboard Holdings has scheduled a board meeting for 16 March 2026 to review and approve its audited final results for the financial year ended 31 December 2025. The board will also consider a recommendation on the payment of a final dividend, a d...
Kingboard flags over 165% profit surge on robust laminates demand
Feb 23, 2026
Kingboard Holdings has issued a positive profit alert, indicating that unaudited net profit for the year ended 31 December 2025 is expected to exceed HK$4.32 billion, representing growth of more than 165% over 2024. The sharp earnings improvement ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.