Kingboard Holdings (0148) AI Stock Analysis

• Market Cap: $29.08B
• Dividend Yield: 5.15%
• Average Volume (3M): 4.17M
• Price to Earnings (P/E): 10.8
• Beta (1Y): 1.20
• Revenue Growth: 6.95%
• EPS Growth: 24.07%
• Country: HK
• Employees: 33,000
• Sector: Industrials
• Sector Strength: 72
• Industry: Conglomerates
• EPS (TTM): 2.33
• Shares Outstanding: 1,108,311,800
• 10 Day Avg. Volume: 2,516,970
• 30 Day Avg. Volume: 4,168,407
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.52
• Enterprise Value/Revenue: 1.03
• Enterprise Value/Gross Profit: 5.20
• Enterprise Value/Ebitda: 6.32
• 1Y Price Target: $29.97
• Price Target Upside: 10.26% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 69 Neutral
• Price Target: HK$30.00 ▲(10.38% Upside)

Kingboard Holdings' overall stock score reflects a stable but challenging financial situation, with strengths in valuation due to a reasonable P/E ratio and attractive dividend yield. Technical analysis indicates moderate momentum, while financial performance highlights areas needing improvement, particularly in cash flow generation and profitability.

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 a diversified business model primarily centered around its four core segments. The Laminates segment is the largest contributor, producing and selling copper-clad laminates and glass fabric used in PCBs, essential components for electronics manufacturing. The Printed Circuit Boards segment involves the design, manufacturing, and sale of PCBs, catering to various high-tech applications. The Chemicals segment produces chemical products, including phenol, acetone, and epoxy resin, used in industrial processes. Additionally, the Property segment generates income through the development, sale, and leasing of residential and commercial properties. The company's earnings are bolstered by strategic partnerships and joint ventures that enhance its production capabilities and market reach, as well as its extensive distribution network across Asia, Europe, and North America.

Kingboard Holdings Financial Statement Overview

Summary

Kingboard Holdings shows a mixed financial performance. The income statement reveals decent gross profitability but declining net profit margins, indicating pressure on bottom-line profitability. The balance sheet is strong with low leverage, but declining equity and increasing liabilities pose potential risks. Cash flow concerns are significant due to fluctuating free cash flow and missing data on cash conversion efficiency.

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: Positive
• Last Price: 27.18
• 50DMA: Negative
• 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 Positive. The current price of 27.18 is above the 20-day moving average (MA) of 27.02, below the 50-day MA of 28.00, and above the 200-day MA of 22.76, indicating a neutral trend. The MACD of -0.29 indicates Positive momentum. The RSI at 48.58 is Neutral, neither overbought nor oversold. The STOCH value of 27.35 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
0053	80 Outperform	HK$24.72B	6.13	―	4.34%	-1.54%	9.96%
0392	75 Outperform	HK$42.17B	7.27	―	4.83%	―	―
0148	69 Neutral	$29.08B	10.75	4.43%	5.15%	6.95%	24.07%
0363	67 Neutral	HK$14.74B	5.57	5.90%	6.93%	-7.44%	-18.48%
0656	57 Neutral	HK$43.67B	-9.11	-3.68%	0.37%	-8.93%	-698.78%
0118	54 Neutral	HK$205.14M	22.04	―	―	-9.32%	―
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

Kingboard Holdings Corporate Events

Kingboard Holdings Schedules Board Meeting for Interim Results and Dividend Decision

Kingboard Holdings Limited has announced a board meeting scheduled for August 25, 2025, to approve the interim results for the period ending June 30, 2025, and to consider the payment of an interim dividend. This announcement indicates the company’s ongoing commitment to transparency and shareholder value, potentially impacting its market positioning and stakeholder interests positively.

Kingboard Holdings Projects Over 70% Profit Surge for H1 2025

Kingboard Holdings Limited has announced a positive profit alert, expecting a net profit increase of over 70% for the first half of 2025, amounting to more than HK$2.56 billion. This significant growth is primarily driven by improved performance in its investment, laminates, and PCBs business segments, though the figures are preliminary and subject to final adjustments.

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.