A leading manufacturer of laminates, Kingboard Laminates Holdings Ltd. (01888.HK), has announced a significant profit alert for the fiscal year ending December 31, 2024. The company expects its net profit to surpass HK$1.3 billion (approximately USD 170 million or RMB 1.22 billion), marking an increase of over 43% compared to the same period in 2023.

The surge in profitability is attributed to robust market demand, which has driven a notable increase in the sales volume of the group's products. The board of directors at Kingboard Laminates credits this growth to the company's strong and well-established vertically integrated business model, which has effectively capitalized on the expanding market opportunities.

This preliminary assessment is based on the unaudited management accounts and the information currently available to the board. It is important to note that these figures are subject to adjustments and have not yet been reviewed by the company's auditors or the audit committee. Kingboard Laminates is in the process of finalizing its annual results for the year ending December 31, 2024, and will disclose the complete financial details and other relevant information in accordance with the Hong Kong Stock Exchange's listing rules.

The announcement underscores the company's optimistic outlook and its ability to leverage its operational strengths to achieve substantial financial growth amidst a favorable market environment. Investors and stakeholders are keenly awaiting the detailed financial report, which will provide further insights into the company's performance and strategic direction.