Report published September 2, 2026
Goldman Sachs Research: Kingboard Laminates (1888.HK) – Vertically Integrated CCL Solutions for AI Growth
Source and citation context
- Issuer
- Goldman Sachs
- Report date
- September 2, 2026
- Analysis as of
- Not stated in source
Authors / editors: Allen Chang, Verena Jeng, Ting Song
Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Goldman Sachs hosted Kingboard Laminates management at its Asia Leaders Conference 2026, highlighting positive CCL pricing momentum and capacity shifts toward AI server products. Vertically integrated upstream supply positions the company well amid industry-wide supply tightness.
Key Takeaways
- 1.Kingboard Laminates management sees strong CCL demand driving upward pricing trends, with vertical integration across fiberglass fabric, yarn, and copper foil supporting near-full-capacity production.
- 2.Goldman Sachs forecasts the global CCL market for AI servers to grow at a 161% CAGR from 2026 to 2028E, reaching US$48bn in 2028E.
- 3.Kingboard is actively expanding capacity in specialty fiberglass yarn and fabric across Qingyuan, Shaoguan (targeting 95mn metres annually), and Nansha (targeting 3Q27E start) to meet AI application demand.
Table of Contents
- Asia Leaders Conference 2026 Takeaways: Kingboard Laminates (1888.HK): Vertically integrated CCL solution to secure supply
- Key Takeaways
- Disclosure Appendix
Report data
Asia Leaders Conference 2026 Header Graphic
| Metric | Estimate | Context |
|---|---|---|
| Global CCL Market for AI Servers CAGR | 161% | Forecasted compound annual growth rate for global AI server CCL market |
| Global CCL Market Size for AI Servers | 48 USD bn | Projected market size of global CCL market for AI servers by 2028E |
| Shaoguan Project Target Annual Fiberglass Fabric Capacity | 95 mn metres | Kingboard Laminates expansion target annual capacity for fiberglass fabric in Shaoguan |
| Kingboard Laminates Stock Price Reference | 43.80 HKD | Stock price reference noted in regulatory disclosures |
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Authors / Editors
Reported Data Context
- Global CCL Market for AI Servers CAGR: 161 % (2026-2028E) · Source: Goldman Sachs Research
- Global CCL Market Size for AI Servers: 48 USD bn (2028E) · Source: Goldman Sachs Research
- Shaoguan Project Target Annual Fiberglass Fabric Capacity: 95 mn metres · Source: Company data / Management
- Kingboard Laminates Stock Price Reference: 43.80 HKD (2026-09-02) · Source: Goldman Sachs
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