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Kingboard Laminates Holdings
(1888)
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Rating:50Neutral
Price Target:
HK$42.00
Action:Reiterated
Date:07/18/26
The score is held back primarily by weak cash-flow quality (free cash flow turning negative) and bearish technical signals showing a sustained downtrend. Improved profitability and a reasonably resilient balance sheet provide some support, but the high P/E with only a modest dividend yield adds valuation risk.
Positive Factors
Essential supplier / market position
Kingboard supplies core PCB base materials used across diverse end markets. That role as an essential upstream supplier creates durable demand exposure to electronics manufacturing, supports long-term customer relationships, and gives steady baseline volumes independent of single-product cycles.
Negative Factors
Weak cash generation
Cash conversion deteriorated sharply in 2025: OCF covered only a small portion of net income and FCF turned negative. Persistently weak cash generation undermines reinvestment capacity, increases reliance on financing, and raises questions about the sustainability of reported profits.
Read all positive and negative factors
Positive Factors
Negative Factors
Essential supplier / market position
Kingboard supplies core PCB base materials used across diverse end markets. That role as an essential upstream supplier creates durable demand exposure to electronics manufacturing, supports long-term customer relationships, and gives steady baseline volumes independent of single-product cycles.
Read all positive factors
Kingboard Laminates Holdings (1888) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$132.30B
Dividend Yield1.53%
Average Volume (3M)12.91M
Price to Earnings (P/E)53.8
Beta (1Y)0.61
Revenue Growth10.03%
EPS Growth84.07%
CountryHK
Employees10,800
SectorTechnology
Sector Strength88
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)0.78
Shares Outstanding3,151,450,000
10 Day Avg. Volume9,089,293
30 Day Avg. Volume12,905,985
Financial Highlights & Ratios
PEG Ratio0.21
Price to Book (P/B)2.53
Price to Sales (P/S)2.02
P/FCF Ratio-552.13
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$101.20Price Target Upside― Downside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)2.17
Revenue Forecast (FY)HK$33.52B
Kingboard Laminates Holdings Business Overview & Revenue Model
Company Description
Kingboard Laminates Holdings Limited, an investment holding company, manufactures and sells laminates in the People's Republic of China, Europe, other Asian countries, and the United States. The company operates through Laminates, Properties, and ...
How the Company Makes Money
The company makes money primarily by manufacturing and selling PCB base materials, with revenue largely generated from: (1) Copper-clad laminates (CCL): Selling laminate sheets made by bonding copper foil to resin-impregnated glass fabric or other...
Kingboard Laminates Holdings Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
74
Positive
Cash Flow
38
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 20.40B | 18.54B | 16.75B | 22.36B | 28.80B |
| Gross Profit | 3.99B | 3.28B | 2.68B | 5.09B | 9.80B |
| EBITDA | 3.62B | 2.94B | 2.37B | 4.29B | 9.20B |
| Net Income | 2.44B | 1.33B | 907.40M | 1.91B | 6.78B |
Balance Sheet | |||||
| Total Assets | 25.48B | 23.11B | 23.56B | 24.30B | 29.82B |
| Cash, Cash Equivalents and Short-Term Investments | 2.88B | 3.46B | 3.71B | 3.87B | 3.32B |
| Total Debt | 4.63B | 3.28B | 4.45B | 4.40B | 2.72B |
| Total Liabilities | 9.11B | 7.74B | 8.59B | 9.23B | 10.76B |
| Stockholders Equity | 16.34B | 15.34B | 14.95B | 15.05B | 19.04B |
Cash Flow | |||||
| Free Cash Flow | -74.80M | 1.93B | 197.12M | 3.37B | 3.94B |
| Operating Cash Flow | 1.20B | 2.71B | 823.72M | 5.53B | 6.03B |
| Investing Cash Flow | -1.35B | -809.93M | -739.33M | -2.33B | -2.32B |
| Financing Cash Flow | -915.92M | -1.93B | -1.32B | -3.14B | -6.34B |
Kingboard Laminates Holdings Technical Analysis
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Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1888, the sentiment is undefined. The current price of undefined is equal to the 20-day moving average (MA) of ―, equal to the 50-day MA of ―, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of ― indicates undefined momentum. The RSI at ― is undefined, neither overbought nor oversold. The STOCH value of ― is undefined, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a undefined sentiment for HK:1888.
Kingboard Laminates Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | HK$3.26B | 1.67 | 93.70% | 46.02% | 13.71% | -29.54% | |
66 Neutral | HK$7.97B | 4.66 | 25.42% | 3.00% | 29.47% | 436.16% | |
63 Neutral | HK$3.09B | 8.86 | 8.69% | 3.25% | 3.78% | -11.48% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | HK$2.61B | 9.97 | 2.88% | 9.26% | -7.51% | -6.59% | |
50 Neutral | HK$132.30B | 53.82 | 15.61% | 5.22% | 10.03% | 84.07% | |
50 Neutral | HK$2.42B | 15.15 | 6.66% | 1.01% | 40.34% | 34.34% |
* Technology Sector Average
HK:1888
Kingboard Laminates Holdings
41.98
32.29
333.19%
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Kingboard Laminates Holdings Corporate Events
Kingboard Laminates Parent Cuts Stake via HK$76 Block Trade to Boost Liquidity
Jun 17, 2026
Kingboard Laminates Holdings has announced that Kingboard Investments, a wholly owned subsidiary of parent company Kingboard Holdings, has agreed to place 155 million existing shares with institutional investors at HK$76.0 per share via a block tr...
Kingboard Laminates Wins Full Shareholder Backing at 2026 AGM
May 26, 2026
Kingboard Laminates Holdings reported that all resolutions at its 26 May 2026 annual general meeting were approved by poll, with shareholders endorsing the 2025 audited accounts, final and special dividends, and the re-election of executive, non-e...
Kingboard Laminates Sets 2026 AGM to Approve Dividends, Board Mandates
Apr 22, 2026
Kingboard Laminates 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 consider the declaration of a final and specia...
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.