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Kingboard Holdings (00148.HK) announced its interim results for the first half of 2024, with the Group's revenue increasing by 9% year-on-year to HKD 20.415 billion (CNY 18.663 billion). Profit attributable to the company’s shareholders rose by 8% to HKD 1.507 billion. The Board has declared an interim dividend of HKD 0.40 per share.

Kingboard Holdings' revenue in the first half of the year primarily came from the following four divisions:

● Copper Clad Laminate Division: During the review period, demand in the traditional consumer electronics market grew, particularly for air conditioners and optoelectronic boards, while the rapid development of the AI industry and the ongoing electrification and intelligence of automotive systems further boosted demand for copper clad laminates. Revenue from this division increased by 7% to HKD 8.883 billion. Despite a significant surge in copper prices, price adjustments not only offset the cost pressures but also improved the division’s gross margin. Additionally, the experienced management team’s ongoing efforts to enhance production technology improved efficiency and reduced energy consumption. Increased automation in production facilities also helped lower labor costs, resulting in a 34% increase in EBITDA to HKD 1.593 billion.

● Printed Circuit Board Division: As mentioned earlier, the demand for printed circuit boards (PCBs) also rose, driven by market expansion across the automotive, communications, and consumer electronics sectors. Many well-known global brands now use Kingboard's products. Revenue for this division increased by 2% to HKD 5.811 billion, while EBITDA grew by 16% to HKD 1.123 billion.

● Chemical Division: During the review period, the division commenced production at its new phenol-acetone project in Daya Bay, Huizhou, Guangdong Province, with an annual capacity of 450,000 tons. Sales volumes of key chemical products, including acetic acid and caustic soda, also increased. Consequently, the division's revenue (including inter-segment sales) rose by 27% to HKD 6.515 billion, and EBITDA increased by 43% to HKD 444 million.

● Property Division: Due to a decrease in residential property deliveries during the period, property sales revenue dropped by 43% to HKD 191 million. However, rental income increased by 2% to HKD 729 million, driven by a higher overall occupancy rate and the expiration of rent-free periods. The total revenue for the Property Division declined by 12% to HKD 920 million, with EBITDA decreasing by 5% to HKD 557 million.

Printed Circuit Board Division will continue to strengthen the core competitiveness of its PCB brands, including Elec & Eltek, Techwise Circuit, and Glory Faith Electronics (Suzhou). Kingboard Holdings plans to increase PCB production capacity by 300,000 square feet per month in Huizhou, Guangdong, and by 200,000 square feet per month in Thailand during the second half of the year, adding a total of 500,000 square feet per month. Additionally, a project to further expand PCB production capacity by 500,000 square feet per month in Thailand is expected to commence in the second half of 2025, while a project in Vietnam to increase PCB capacity by 1 million square feet per month is anticipated to begin production in the second half of 2026. Both plants are strategically located, and the increased capacity will meet the growing demands of overseas customers.

About Kingboard Holdings Limited 

Plant In 1988, Kingboard Holdings Limited established its first laminates manufacturing plant in 1988. The Group now operates more than 60 manufacturing plants, with business activities ranging from laminates to printed circuit boards, chemicals and properties development in China.

Editor：Lulu

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