Loading…
Hong Kong conglomerate and one of the world's largest makers of copper-clad laminates and printed circuit boards, plus chemicals and property.
Hong Kong conglomerate and one of the world's largest makers of copper-clad laminates and printed circuit boards, plus chemicals and property.
Integrated from the raw inputs, glass fabric, copper foil and resin, up to laminates and finished boards, so it can supply other board makers while also making its own. Its laminates arm is separately listed. The Cheung family controls the group.
In one line: An Asian PCB-materials maker with a property arm attached.
Moat: narrow (scale, installed base). One of the world's largest CCL producers by volume, giving cost/scale advantages in a cyclical materials business.
Headquarters: Hong Kong · Founded: 1988 · Employees: 34,000
Size Kingboard (0148.HK) is a Hong Kong Materials company (Chemicals: Specialty) with a market value of $5.78B, the 239th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$40.40 on 6 Nov 2026.
Performance Over six months the shares fell 16.9%, against -8.4% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 19.4% over the last twelve months (peer median +10.6%); the operating margin is 14.7% (peer median 14.6%).
Valuation It trades at 5.0× forward earnings against a peer median of 22.4× (cheapest of 20).
Capital Return on invested capital runs 1.1 points above its cost of capital (5.7% WACC).
Next results Next results expected around 22 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$52.9B | HK$45.4B | HK$43.1B | HK$39.7B | HK$49.4B |
| Revenue growth | — | +5% | +9% | -20% | — |
| Gross profit | HK$11.6B | HK$7.93B | HK$8.49B | HK$7.59B | HK$12.4B |
| EBITDA | HK$10.3B | HK$6.68B | HK$6.40B | HK$5.18B | HK$10.5B |
| Net income | HK$4.53B | HK$4.40B | HK$1.63B | HK$2.06B | HK$3.66B |
| Free cash flow | n/a | -HK$954M | HK$431M | -HK$121M | HK$5.49B |
| Capital expenditure | n/a | HK$3.92B | HK$4.22B | HK$4.14B | HK$5.29B |
| Total debt | n/a | HK$22.8B | HK$21.7B | HK$22.9B | HK$19.8B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Kingboard 0148.HK | $5.78B | -17% | +19% | 15% | 5.0× | n/a |
| Shengyi Technology 600183.SS | $25.7B | -8% | +56% | 22% | 20.3× | 20.5% |
| Nan Ya Plastic 1303.TW | $57.4B | +155% | +6% | 6% | 11.5× | n/a |
| Elite Material 2383.TW | $41.4B | -19% | +89% | 26% | 15.8× | n/a |
| Rogers ROG | $2.17B | -13% | +7% | 10% | 26.2× | 10.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 0148.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -33.5% | +0.3% | lowest of 21 |
| 6-month return | -16.9% | -8.4% | 6th lowest of 21 |
| Distance from 52-week high | -73.4% | -29.5% | lowest of 21 |
| Revenue growth (TTM) | +19.4% | +10.6% | 9th highest of 21 |
| Operating margin | 14.7% | 14.6% | 11th highest of 21 |
| Forward P/E | 5.0× | 22.4× | cheapest of 20 |
| ROIC minus cost of capital | +1.1 pp | -0.1 pp | 9th highest of 21 |
| EV / EBITDA | 5.2× | 14.3× | 2nd cheapest of 13 |
| Net debt / EBITDA | 0.1× | 1.3× | 3rd least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Kingboard 0148.HK | Hong Kong | $5.78B | -17% | +19% | 15% | 5.0× | n/a | n/a |
| Nissan Chemical 4021.T | Japan | $5.72B | 0% | +10% | 23% | 15.9× | 9.3% | +6.0% |
| Zhejiang Longsheng 600352.SS | China | $5.70B | -11% | -1% | 19% | 13.7× | -5.2% | -3.1% |
| Coromandel International COROMANDEL.NS | India | $5.69B | -7% | +24% | 8% | 27.3× | n/a | n/a |
| Inner Mongolia Junzheng Energy & Chemical 601216.SS | China | $5.92B | -16% | +3% | 11% | 12.0× | -3.4% | +11.3% |
| Canmax Technologies 300390.SZ | China | $5.62B | -64% | +98% | 27% | 7.3× | n/a | n/a |
| LB Group Co., Ltd. Class A 002601.SZ | China | $5.58B | -8% | +7% | 7% | 22.4× | 5.0% | +12.9% |
| Shenzhen Capchem Technology 300037.SZ | China | $6.16B | -21% | +72% | 13% | 19.0× | 19.3% | +26.6% |
| Gujarat Fluorochemicals FLUOROCHEM.NS | India | $5.42B | +23% | +20% | 17% | 53.0× | n/a | n/a |
| Linde India LINDEINDIA.NS | India | $6.20B | -13% | +13% | 22% | 97.2× | 47.9% | +11.5% |
| Hoshine Silicon Industry 603260.SS | China | $5.32B | -33% | -7% | -6% | 41.7× | 22.5% | +18.5% |
| Haohua Chemical Science & Technology 600378.SS | China | $6.29B | -9% | +20% | 9% | 22.1× | 11.0% | +25.2% |
| NewMarket NEU | United States | $6.39B | +1% | +1% | 20% | n/a | -0.8% | +6.3% |
| SOL SOL.MI | Italy | $6.39B | +6% | +9% | 14% | 30.5× | 16.9% | +12.8% |
| Methanex MX.TO | Canada | $5.18B | +12% | +31% | 23% | 6.9× | -9.4% | +7.1% |
| Celanese CE | United States | $5.10B | -19% | +1% | 9% | 7.6× | 5.3% | +11.0% |
| Sumitomo Chemical 4005.T | Japan | $4.93B | -7% | -2% | 5% | 6.9× | 1.1% | +0.4% |
| Navin Fluorine International NAVINFLUOR.NS | India | $4.89B | +27% | +46% | 30% | 45.6× | 34.0% | +22.7% |
| Croda International CRDA.L | United Kingdom | $6.88B | +31% | +3% | 16% | 23.3× | 19.9% | +4.1% |
| Dottikon ES DESN.SW | Switzerland | $4.72B | -24% | +11% | 27% | 37.6× | 12.6% | +14.4% |
| Red Avenue New Materials 603650.SS | China | $4.70B | -12% | +24% | 9% | 40.7× | n/a | n/a |