Kingboard Holdings (0148) AI Stock Analysis

• Market Cap: HK$27.87B
• Dividend Yield: 4.29%
• Average Volume (3M): 1.70M
• Price to Earnings (P/E): 17.0
• Beta (1Y): 1.19
• Revenue Growth: 8.51%
• EPS Growth: -20.96%
• Country: HK
• Employees: 33,000
• Sector: Industrials
• Sector Strength: 91
• Industry: Conglomerates
• EPS (TTM): 0.11
• Shares Outstanding: 1,108,311,800
• 10 Day Avg. Volume: 2,371,155
• 30 Day Avg. Volume: 1,701,484
• PEG Ratio: -0.11
• Price to Book (P/B): 0.46
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 5.21
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: HK$25.98
• Price Target Upside: 3.93% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 0

• Rating: 71 Outperform
• Price Target: HK$29.00 ▲(16.00%Upside)

Kingboard Holdings' overall score is driven by strong technical analysis, indicating bullish momentum, and a solid balance sheet. However, valuation concerns and declining profitability affect the financial performance score. The combination of these factors suggests a cautiously optimistic view, with attention needed on financial sustainability and potential overvaluation risks.

Kingboard Holdings Business Overview & Revenue Model

Company Description

Kingboard Holdings Limited (0148) is a Hong Kong-based investment holding company primarily engaged in manufacturing and selling laminates, printed circuit boards, chemicals, and property development. The company operates through multiple sectors, including laminates, printed circuit boards, chemicals, properties, and others, with a strong presence in the electronics industry. Kingboard Holdings is recognized for its vertically integrated business model, which enhances operational efficiency and product quality.

How the Company Makes Money

Kingboard Holdings generates revenue through its diverse portfolio of businesses. The company's primary revenue stream comes from the manufacture and sale of laminates, which are used in the production of printed circuit boards. Additionally, Kingboard Holdings earns significant income from its chemicals division, which produces a range of chemical products used in various industrial applications. The printed circuit boards segment also contributes to the company's earnings by catering to the electronics sector's demand for high-quality circuit boards. Furthermore, Kingboard Holdings invests in property development and management, adding another layer to its revenue model. The company's vertically integrated operations allow it to maintain control over its supply chain, reduce costs, and ensure product quality, which supports its profitability. Partnerships with major electronics manufacturers and consistent innovation in its product offerings are also critical factors contributing to its financial success.

Kingboard Holdings Financial Statement Overview

Summary

Kingboard Holdings shows stability in its balance sheet with low leverage and a solid equity position. However, pressures on profitability, reflected in declining net profit margins and cash flow challenges, signal areas of concern that need addressing to ensure sustainable growth.

Income Statement

Kingboard Holdings shows a mixed performance in its income statement. The gross profit margin for the latest year is approximately 19.7%, indicating a decent level of profitability. However, net profit margin has decreased to about 3.8%, reflecting pressure on bottom-line profitability. The revenue growth rate has been inconsistent, with a decline in recent years. EBIT margin at 11.7% and EBITDA margin at 16.2% suggest some operational efficiency, but declining trends in margins suggest challenges in maintaining cost efficiency.

Balance Sheet

The balance sheet of Kingboard Holdings is relatively strong with a debt-to-equity ratio of approximately 0.36, indicating a conservative leverage position. The return on equity (ROE) has decreased to about 2.7%, showing a decline in profitability relative to shareholders' equity. The equity ratio stands at 61.2%, reflecting a solid capital structure with significant equity financing. However, there's a trend of decreasing equity and increasing liabilities, which may pose a risk if not addressed.

Cash Flow

Kingboard Holdings' cash flow statement indicates some concerns. The operating cash flow to net income ratio is unavailable for the latest year due to missing data, making it difficult to assess cash conversion efficiency. The free cash flow has fluctuated significantly over the years, showing a substantial decline recently, which could impact future investments and financial flexibility. The absence of free cash flow growth highlights potential challenges in generating cash from operations.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	43.09B	39.71B	49.38B	56.76B	43.51B
Gross Profit	8.49B	7.59B	12.37B	18.82B	12.23B
EBITDA	6.99B	5.90B	10.99B	17.44B	11.02B
Net Income	1.63B	2.06B	3.66B	10.78B	4.70B
Balance Sheet
Total Assets	97.78B	98.97B	97.29B	103.82B	93.25B
Cash, Cash Equivalents and Short-Term Investments	10.84B	12.99B	11.40B	10.07B	9.36B
Total Debt	21.71B	22.93B	19.76B	18.42B	17.24B
Total Liabilities	33.05B	34.53B	32.60B	35.13B	32.45B
Stockholders Equity	59.82B	59.74B	60.06B	63.02B	55.86B
Cash Flow
Free Cash Flow	1.54B	1.18B	5.29B	5.58B	7.83B
Operating Cash Flow	4.65B	5.31B	10.58B	9.50B	9.50B
Investing Cash Flow	-1.51B	-8.24B	-5.33B	-6.01B	2.76B
Financing Cash Flow	-3.56B	622.28M	-3.77B	-4.67B	-12.28B

Kingboard Holdings Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 25.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0148, the sentiment is Neutral. The current price of 25 is above the 20-day moving average (MA) of 24.81, above the 50-day MA of 23.32, and above the 200-day MA of 20.22, indicating a neutral trend. The MACD of 0.46 indicates Positive momentum. The RSI at 51.34 is Neutral, neither overbought nor oversold. The STOCH value of 48.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:0148.

Kingboard Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
0053	79 Outperform	$22.93B	5.75	6.40%	3.45%	-1.54%	9.96%
0363	78 Outperform	$15.37B	5.44	5.95%	7.36%	-11.56%	-18.00%
0392	75 Outperform	$41.20B	7.41		4.70%	―	―
0148	71 Outperform	HK$27.87B	17.00	2.72%	4.29%	8.51%	-20.96%
Sector *	58 Neutral	HK$14.28B	4.63	-3.01%	6.76%	3.67%	-54.16%
0118	54 Neutral	HK$181.01M	33.87	0.21%	―	-14.31%	―
0656	52 Neutral	$40.08B	44.05	-3.59%	0.41%	-4.89%	-404.51%

Kingboard Holdings Corporate Events

Kingboard Holdings Announces Board Committee Change

Kingboard Holdings Limited, a company incorporated in the Cayman Islands with limited liability, has announced a change in the composition of its board committee. Effective from June 30, 2025, Ms. Ho Kin Fan, an executive director, has been appointed as a member of the nomination committee. This appointment reflects the company’s ongoing efforts to strengthen its governance structure and ensure effective leadership within its board committees.

Kingboard Holdings Announces Board Composition and Roles

Kingboard Holdings Limited has announced the composition of its board of directors and their roles within the company. The board includes both executive and independent non-executive directors, with specific members assigned to the audit, remuneration, and nomination committees. This announcement highlights the company’s governance structure, which is crucial for maintaining transparency and accountability, potentially impacting stakeholder confidence and the company’s strategic direction.

Kingboard Holdings Successfully Passes All AGM Resolutions

Kingboard Holdings Limited announced the successful passing of all resolutions at its Annual General Meeting held on May 26, 2025. The resolutions included the approval of financial statements, declaration of dividends, re-election of directors, and granting of mandates for share issuance and repurchase. This outcome reflects the company’s stable governance and shareholder confidence, potentially strengthening its market position and operational strategies.

Kingboard Holdings Announces 2025 Annual General Meeting

Kingboard Holdings Limited has announced its annual general meeting to be held on May 26, 2025, in Hong Kong. The meeting will address various resolutions, including the approval of audited financial statements, declaration of dividends, re-election of directors, and authorization of directors’ remuneration. Additionally, the company seeks approval to allot and issue shares, with specific limitations on the share capital involved.