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Kingboard Holdings
(0148)
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Rating:60Neutral
Price Target:
HK$134.00
â–²(362.07% Upside)
Action:Reiterated
Date:06/24/26
The score is held back primarily by weakening cash flow (negative free cash flow in 2025) and a demanding valuation (P/E ~32 with ~1.3% yield). These are partially offset by a solid balance sheet and strong technical momentum, though momentum appears overheated based on very high RSI/Stoch readings.
Positive Factors
Balance-sheet resilience
Controlled leverage and a meaningful equity base give the company durable financial flexibility. Over a 2–6 month horizon this supports funding for capex or working-capital needs, helps absorb cyclical shocks in electronics demand, and reduces refinancing risk versus highly levered peers.
Negative Factors
Weakening cash generation
Negative free cash flow and deteriorating cash conversion materially weaken the firm's ability to self-fund capex, dividends, or capacity expansion. Over several months this raises reliance on external financing or asset actions, increasing execution and funding risk for strategic investments.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet resilience
Controlled leverage and a meaningful equity base give the company durable financial flexibility. Over a 2–6 month horizon this supports funding for capex or working-capital needs, helps absorb cyclical shocks in electronics demand, and reduces refinancing risk versus highly levered peers.
Read all positive factors
Kingboard Holdings (0148) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$141.79B
Dividend Yield5.88%
Average Volume (3M)3.03M
Price to Earnings (P/E)30.2
Beta (1Y)0.98
Revenue Growth5.29%
EPS Growth169.98%
CountryHK
Employees33,000
SectorIndustrials
Sector Strength72
IndustryConglomerates
Share Statistics
EPS (TTM)3.97
Shares Outstanding1,121,781,700
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-34.17
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$132.50Price Target Upside356.90% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)6.65
Revenue Forecast (FY)HK$60.66B
Kingboard Holdings Business Overview & Revenue Model
Company Description
Kingboard Holdings Limited, an investment holding company founded in 1988 and headquartered in Sha Tin, Hong Kong, maintains a diversified business portfolio. Its core industrial activities involve the manufacturing and sale of laminates and print...
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
67.60
Positive
51.37
Positive
38.99
Positive
Market Momentum
19.50
Negative
72.90
Negative
61.70
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 94.88, below the 50-day MA of 67.60, and below the 200-day MA of 38.99, indicating a bullish trend. The MACD of 19.50 indicates Negative momentum. The RSI at 72.90 is Negative, neither overbought nor oversold. The STOCH value of 61.70 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$342.68B | 7.08 | 5.53% | 5.15% | 2.24% | 1.42% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | HK$141.79B | 30.23 | 6.92% | 5.88% | 5.29% | 169.98% | |
60 Neutral | HK$34.39B | 6.24 | 5.69% | 4.94% | 3.77% | -1.53% | |
60 Neutral | HK$13.37B | 6.73 | 4.07% | 6.37% | -27.96% | -28.06% | |
51 Neutral | HK$31.24B | -1.21 | -22.07% | 0.44% | -9.73% | -443.25% | |
46 Neutral | HK$1.26B | -3.94 | -3.46% | 3.80% | 10.38% | 7.39% |
* Industrials Sector Average
HK:0148
Kingboard Holdings
120.00
95.94
398.73%
HK:0392
Beijing Enterprises Holdings
27.56
-3.16
-10.28%
HK:0267
CITIC
11.47
0.89
8.37%
HK:0656
Fosun International
4.03
-0.64
-13.70%
HK:0363
Shanghai Industrial Holdings
12.52
-0.04
-0.28%
HK:0025
Chevalier International Holdings Limited
4.19
0.49
13.24%
Kingboard Holdings Corporate Events
Kingboard Holdings to Raise Funds via 4.92% Stake Sale in Kingboard Laminates
Jun 17, 2026
Kingboard Holdings has moved to monetise part of its investment in Kingboard Laminates Holdings, with its indirect wholly owned unit Kingboard Investments Limited agreeing to place 155 million shares in the laminates producer. The stake, represent...
Kingboard Shareholders Approve All AGM Resolutions, Renew Capital Mandates
May 26, 2026
Shareholders of Kingboard Holdings approved all resolutions at the company’s annual general meeting held in Hong Kong on 26 May 2026, with all 1.11 billion issued ordinary shares eligible to vote and no special voting restrictions imposed un...
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...
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.