On August 5, CNBM rose 5.01% in regular trading, trading at HKD 4.08/share, with turnover of HKD 168 million.

On the news front, Citi published a research report noting that August average selling prices for 1080 series electronic-grade glass fiber cloth rose 17-18% month-over-month, marking the largest monthly increase year-to-date, with cumulative gains reaching 118-165% since the start of the year. The bank attributed the surge to strong AI demand driving manufacturers to shift capacity from non-AI products toward AI-related glass fiber cloth, further intensifying industry supply tightness. Citi expects major copper clad laminate (CCL) producers to initiate a new round of price increases, with Kingboard Laminates likely to announce CCL product price hikes of approximately 10-15% in August.

CNBM controls China Jushi and Sinoma Science and Technology, covering both general-purpose and high-end electronic cloth segments, positioning the company to benefit broadly from the current industry supply shortage. Citi previously reiterated a Buy rating on CNBM with a target price of HKD 7.30, noting that the stock has not fully reflected the valuation re-rating of its new materials assets.

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