1. Hong Kong Stocks

  2. •

    Process industries

  3. •

    Chemicals: specialty
Kingboard Holdings Limited

Kingboard Holdings Limited

5.05
EUR
-0.50
(-9.01%)
3.48BMarket Cap
Mar 22Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
34.79
35.01
31.97
34.85
41.58
43.09
37.91
39.38
51.23
44.53
35.83
38.88
40.94
- -
Basic EPS, GAAP
2.89
2.47
1.61
4.89
5.36
5.69
2.85
4.26
9.73
3.3
1.86
1.47
3.97
- -
Free Cash Flow per Basic Share
-1.43
0.2
1.48
10.18
-2.08
0.67
4.14
7.09
5.04
4.77
1.06
1.39
0.74
- -
Dividend per Share
0.65
0.4
0.5
0.6
1.61
2.12
0.98
1.1
2.28
3
1.05
0.98
1.37
- -
Book Value per Share
33.31
34.79
34.37
36.2
43.17
43.7
45.39
50.52
56.83
54.16
53.9
53.98
58.35
58.35
Tangible Book Value per Share
31.07
32.55
32.14
33.99
41.03
41.4
42.92
48.06
54.38
51.72
51.46
51.54
55.92
55.92
Basic Weighted Avg Shares
1,026
1,026
1,026
1,028
1,043
1,067
1,086
1,105
1,108
1,109
1,108
1,108
1,108
1,108
Sales/Revenue/Turnover
35,683
35,906
32,788
35,830
43,371
45,994
41,161
43,510
56,755
49,376
39,712
43,093
45,375
- -
Operating Margin (%)
6.09
5.46
6.37
12.37
16.76
15.62
13.89
21.04
26.74
17.63
10.44
11.9
9.35
- -
Depreciation Expense
2,275
2,321
2,216
1,955
1,758
1,968
1,929
1,690
1,946
1,891
1,989
1,994
2,382
- -
Net Income, GAAP
2,961
2,537
1,650
5,027
5,593
6,076
3,094
4,703
10,778
3,655
2,063
1,630
4,402
- -
Effective Tax Rate (%)
15.6
19.71
22.57
14.86
18.3
22.49
26.43
26.56
19.4
38.2
15.91
22.73
10.48
- -
Profit Margin (%)
8.3
7.07
5.03
14.03
12.9
13.21
7.52
10.81
18.99
7.4
5.19
3.78
9.7
- -
Working Capital
21,101
16,934
20,191
12,176
25,184
25,502
22,757
22,426
23,419
28,109
25,253
19,990
19,541
19,541
LT Debt
16,507
12,251
14,469
9,015
13,798
20,259
16,557
8,629
7,674
14,483
14,779
12,748
10,691
10,691
Total Equity
40,860
41,973
41,341
43,953
53,724
54,633
57,970
60,799
68,683
64,696
64,435
64,739
69,839
69,839
Return on Invested Capital (%)
3.67
3.09
3.25
6.85
8.61
9.09
4.83
8.16
14.47
4.93
3.1
3.23
4.19
- -
Return on Capital (%)
5.13
4.06
2.68
6.89
6.9
7.15
3.61
4.88
11.17
4
3.17
2.32
4.93
- -
Return on Common Equity (%)
9.14
7.27
4.65
13.8
13.38
13.01
6.35
8.87
18.13
5.94
3.44
2.73
7.07
- -

Capital Structure

HKD

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
ST Debt
8,964
11,050
12,109
LT Borrowings
12,736
13,874
10,678
LT Finance Leases
12
10
13
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,108
1,108
1,108
Market Capitalization
20,250
27,271
31,812

Working Capital

HKD

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
Total Current Assets
39,501
43,622
42,467
Cash, Cash Equivalents & STI
10,844
13,418
11,958
Accounts Receivable, Net
7,185
7,864
8,763
Inventories
16,451
16,095
15,123
Total Current Liabilities
19,511
21,636
22,926
Payables & Accruals
- -
- -
- -
ST Debt
8,964
11,050
12,109
Deferred Revenue
- -
- -
- -

Growth Rates

HKD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
5.63%
3.02%
7.88%
Free Cash Flow
81.12%
-25.49%
-46.63%
Net Income, GAAP
39.59%
33.71%
169.98%
Sales/Revenue/Turnover
4.32%
2.33%
5.29%
Total Cash Common Dividend
29.62%
21.51%
40.01%

Semi-annual Revenue

HKD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
39,712
2024
- -
- -
43,093
2025
- -
- -
45,375

Semi-annual Earnings Per Share

HKD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
1.86
2024
- -
- -
1.47
2025
- -
- -
3.97

Semi-annual Dividends Per Share

HKD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
1.05
2024
- -
- -
0.98
2025
- -
- -
1.37

Company Description

Company Profile APIChatGPT
CEO
Wing Yiu Chang
Full Time Employees
34,000
Sector
Process industries
Industry
Chemicals: specialty
Address
Delta House Hong Kong Hong Kong
IPO Date
Oct 8, 1993
Website
kingboard.com
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Business
Kingboard Holdings Limited is an investment holding company principally engaged in the manufacture and sale of laminates, printed circuit boards, chemicals, magnetic products, and related materials; it also develops and rents properties, invests in financial instruments, and operates hotel businesses. The company operates through six segments, including laminates (producing copper-clad laminates, fiberglass fabrics, and yarns), printed circuit boards (single-sided, double-sided, and multi-layer PCBs), and chemicals (methanol, glacial acetic acid, MTBE, phenol, bisphenol A, PVC, liquefied chlorine, sodium sulfate, hydrogen peroxide, benzene, propylene, LPG, acetone, caustic soda, hydrochloric acid, chlorinated wax-52, formalin, and tetrabromobisphenol); its properties segment focuses on development and rental, while investments cover debt and equity instruments, and others include magnetic products and hotels. Kingboard Holdings serves consumer electronics, automotive, telecommunications, data centers, AI applications, photovoltaic panels, and air conditioning markets, with primary manufacturing facilities in China and Thailand, supplemented by operations in the rest of Asia, Europe, and the United States. Founded in 1988 and headquartered at Delta House in Sha Tin, Hong Kong, the company, formerly Kingboard Chemical Holdings Limited until its name change in July 2018, maintains over 60 plants and employs around 34,000 people as the world's largest laminates producer and China's top PCB manufacturer. Recent developments include robust 2024 performance with year-on-year revenue and profit growth in laminates and PCBs driven by AI and automotive demand, the commissioning of new phenol-acetone and bisphenol A capacity in Daya Bay adding to chemicals revenue, Thailand laminates expansion to 1 million sheets monthly capacity with plans for 1.8 million, a new Lianzhou copper foil phase operational in early 2025, an HK$8 billion sustainability-linked syndicated loan in June 2025, and a 71% interim net profit increase to HK$2.582 billion for the six months ended June 30, 2025, supported by 6% revenue growth to HK$21.6 billion.