Kingboard Laminates (1888) H1 2026 earnings summary

Executive summary

• AI commercialisation drove a surge in global electronics demand, resulting in tight supply and multiple price increases for laminates and upstream materials.

• Vertically integrated operations enabled near full-capacity production and timely delivery, expanding the customer base and moving upmarket.

• Revenue grew 55% year-over-year to HK$14,903.8 million, and net profit attributable to owners rose 209% to HK$2,886.6 million.

• 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.

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

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

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

Outlook and guidance

• AI-driven demand expected to sustain strong momentum, with tight supply-demand imbalance likely to persist.

• July 2026 profit reached a record HK$1.1 billion.

• Expansion of specialty electronic fibreglass yarn and fabric capacity underway, with multiple projects scheduled for commissioning through 2028.

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