KINGBOARD HLDG (SEHK: 00148) shares have surged more than 9%, reaching a new all-time high of HK$127.3.

As of the latest update, the stock is up 8.5% to HK$126.4, with a turnover of HK$5.396 billion.

The company recently announced plans to place 155 million shares of its subsidiary, Kingboard Laminates, via a block trade, raising approximately HK$11.78 billion.

Proceeds from this transaction are earmarked primarily for the expansion and technological upgrade of its printed circuit board (PCB) operations.

This year, the company has benefited significantly from surging demand for AI data centers, which has driven continuous price increases for electronic glass fiber fabric and copper-clad laminates.

Consequently, shares of Kingboard Laminates have skyrocketed over sixfold year-to-date.

Notably, Kingboard Laminates issued its fifth price increase notice of the year on June 16.

Analysts have projected that by 2028, approximately 85% of KINGBOARD HLDG's core net profit will be derived from its laminate and PCB business, a substantial increase from the estimated 60% in 2025.