HK Stock Market Move | KB LAMINATES (01888) rose nearly 5% in the morning, while the highest quote for Taiwanese CCL surged by 40%. Rising prices are being driven by both the cost side and demand side.

KB LAMINATES (01888) rose nearly 5% in the morning, with a nearly doubled increase for the year, rising 5.07% to HK$26.1 as of the time of writing, with a turnover of HK$554 million. In terms of news, it was reported that three major high-end copper foil substrate (CCL) suppliers, Taiflex, Taiwan Yinbao, and Lianmao, have recently been in communication with customers about price increases. Among them, Taiwan Yinbao has officially notified customers of a price increase in CCL starting from April 25, with some series of products increasing by 20% to 40%. Taiflex and Lianmao announced that they will start a new round of price adjustments for high-end materials in the second quarter, with a 10% increase, targeting high-end applications such as AI servers and switches. Changjiang pointed out that this round of price adjustments is driven by both rising costs and increasing demand. On the cost side, the price of electronic yarn G75 has risen to 11,500-12,700 yuan/ton, an increase of about 800 yuan/ton from the previous period. The electronic fabric inventories of electronic fabric factories and downstream copper-clad laminates factories have both fallen to historical lows, with downstream copper-clad laminate orders being full, providing a basis for price increases. On the demand side, the demand for high-layer, high-frequency, and high-speed PCBs for AI servers has surged, with the value of CCL for a single AI server being 3-5 times that of a traditional server, leading to a continuous widening gap between supply and demand for high-end CCL.