Kingboard Laminates (1888) H1 2026 earnings summary

Executive summary

• Revenue surged 55% year-over-year to HK$14,903.8 million, driven by strong AI commercialization and tight supply in the electronics sector, especially laminates and upstream materials.

• Net profit attributable to owners rose 209% to HK$2,886.6 million, with basic EPS up 208% to HK92.0 cents and diluted EPS at HK90.9 cents, up 204%.

• Vertically integrated operations enabled near full-capacity production, timely delivery, and customer base expansion.

• Interim dividend declared at HK28.0 cents per share, up 87% from the prior year.

Financial highlights

• EBITDA increased 143% year-over-year to HK$4,130.3 million.

• Profit before tax rose 200% to HK$3,515.0 million.

• Net asset value per share increased 22% to HK$5.82.

• Net gearing ratio rose to 30% from 20% at year-end 2025.

• Basic EPS was HK92.0 cents, up 208%; diluted EPS was HK90.9 cents, up 204%.

Outlook and guidance

• Ongoing supply shortages in electronic fibreglass fabric and copper foil are expected to sustain high prices and strong returns.

• July 2026 profit reached a record HK$1.1 billion, with continued robust demand anticipated.

• Expansion projects in specialty electronic fibreglass yarn and fabric, copper foil, and laminates are underway, with multiple projects scheduled for commissioning through 2028.

• Management expects continued robust performance and further market share gains in high-end AI materials.