HK Stock Market Move | KB LAMINATES (01888) fell more than 6% in early trading, recently experiencing frequent reductions in holdings by multiple shareholders. Citi pointed out that the decline in stock price is apparently excessive.

KB LAMINATES (01888) fell more than 6% in early trading, as of the time of writing, it was down 6.54% at HK$38.04, with a turnover of HK$873 million. On the news front, KB LAMINATES has recently seen several shareholders selling off their holdings. According to data from the Hong Kong Stock Exchange, on July 20th, Cheung Ka Ho sold 1 million shares of KB LAMINATES for approximately HK$42.1 million. On June 30th, Cheung Kwok Wah sold 300,000 shares of KB LAMINATES for a total of HK$29.5773 million, and on June 26th, three directors of KB LAMINATES simultaneously sold off company shares, involving approximately HK$89.8451 million. It is worth noting that controlling shareholder KINGBOARD HLDG has sold off KB LAMINATES holdings twice this year, totaling approximately HK$14.5 billion. Citigroup released a research report stating that KB LAMINATES' stock price has dropped by around 60% from its historical highs this month, with a current P/E ratio of only 8 to 9 times, even lower than the historical average (low double digits), indicating an excessive decline. The bank predicts that KB LAMINATES' net profit for the first half of this year will increase more than 3 times to HK$4 billion, reiterating their "buy" rating and maintaining a target price of HK$130.