Kingboard Holdings (0148) AI Stock Analysis

• Market Cap: HK$26.32B
• Dividend Yield: 4.55%
• Average Volume (3M): 1.25M
• Price to Earnings (P/E): 16.1
• Beta (1Y): 1.13
• Revenue Growth: 8.51%
• EPS Growth: -20.96%
• Country: HK
• Employees: 33,000
• Sector: Industrials
• Sector Strength: 83
• Industry: Conglomerates
• EPS (TTM): 0.11
• Shares Outstanding: 1,108,311,800
• 10 Day Avg. Volume: 1,299,440
• 30 Day Avg. Volume: 1,252,495
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 74 Outperform
• Price Target: HK$26.00 ▲(13.04%Upside)

Kingboard Holdings shows strong technical momentum and a stable valuation, supported by a decent dividend yield. However, financial performance concerns, particularly in profitability and cash flow, slightly temper the stock's overall potential.

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, liquefied petroleum gas, phenol, acetone, bisphenol A, caustic soda, polyvinyl chloride, hydrochloric acid, liquefied chlorine, chlorinated wax, sodium sulfate, formalin, hydrogen peroxide, and tetrabromobisphenol. In addition, it is involved in the manufacture and distribution of magnetic and glass fabric products; property investment and development activities; rental and sale of properties; and refining and distribution of chemicals. The company's investment property portfolio comprises commercial, residential, and industrial properties. It sells its products in the People's Republic of China, Thailand, Japan, Korea, and Singapore; Europe; and the United States. The company was formerly known as Kingboard Chemical Holdings Limited and changed its name to Kingboard Holdings Limited in July 2018. Kingboard Holdings Limited was founded in 1988 and is headquartered in Sha Tin, Hong Kong.

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
	EBIT
5.05B	4.09B	9.10B	15.50B	9.33B
	EBITDA
6.99B	5.90B	10.99B	17.44B	11.02B
	Net Income Common Stockholders
1.63B	2.06B	3.66B	10.78B	4.70B
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
10.84B	12.99B	11.40B	10.07B	9.36B
	Total Assets
97.78B	98.97B	97.29B	103.82B	93.25B
	Total Debt
21.71B	22.93B	19.76B	18.42B	17.24B
	Net Debt
17.82B	18.84B	13.06B	12.90B	10.68B
	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: Positive
• Last Price: 23.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• 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 Positive. The current price of 23 is above the 20-day moving average (MA) of 22.57, above the 50-day MA of 21.16, and above the 200-day MA of 19.12, indicating a bullish trend. The MACD of 0.79 indicates Negative momentum. The RSI at 65.63 is Neutral, neither overbought nor oversold. The STOCH value of 45.01 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
0148	74 Outperform	HK$26.32B	16.15	2.72%	4.55%	8.51%	-20.96%
Sector *	66 Neutral	$4.46B	12.11	5.38%	5.02%	4.17%	-11.82%
BJINF		$5.24B	7.04		4.97%	―	―
FOSUF		$4.73B	43.65	-3.59%	3.33%	―	―
GULRF		$2.76B	5.44	6.40%	3.67%	―	―
SGHIF		$1.92B	5.33	5.95%	7.58%	―	―
0118	54 Neutral	HK$161.18M	30.16	0.21%	―	-14.31%	―

Kingboard Holdings Corporate Events

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.

Kingboard Holdings Announces Final Dividend for 2024

Kingboard Holdings Limited has announced a final cash dividend of HKD 0.54 per share for the year ending December 31, 2024. The dividend will be paid on July 4, 2025, following shareholder approval on May 26, 2025. This announcement reflects the company’s stable financial performance and commitment to returning value to shareholders.

Kingboard Holdings Declares Special Final Dividend

Kingboard Holdings Limited has announced a special final dividend of HKD 0.46 per share for the financial year ending December 31, 2024. This announcement reflects the company’s strong financial performance and commitment to returning value to its shareholders, potentially enhancing its market position and investor confidence.

Kingboard Holdings Reports Mixed Financial Results for 2024

Kingboard Holdings Limited reported its annual results for the year ending December 31, 2024, showing a 9% increase in revenue to HK$43,093.3 million compared to the previous year. However, the company experienced a decline in EBITDA and net profit, with the underlying net profit dropping by 29% and the reported net profit falling by 21%. Despite these challenges, the company declared a significant increase in dividends, with a proposed final dividend per share up by 50% and a special final dividend introduced. This announcement highlights a mixed financial performance, with increased revenue but reduced profitability, potentially impacting stakeholders’ perspectives on the company’s future growth and financial health.