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| Silicon Valley Doesn't Have a Monopoly on AI Returns |
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| Kingboard Holdings (HK:0148), the world's largest laminate producer, is up 596% since ProPicks AI added it to the Hong Kong Tech Titans strategy in February 2025. |
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| This week, Citigroup raised the company's price target to an all-time high, a sign the market is finally catching up. |
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| The assumption is understandable: the real AI money lives on Nasdaq. |
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| Nvidia. Broadcom. Alphabet. The companies building the intelligence layer of the modern internet are predominantly American, and the returns that come with them are too. |
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| Except that's not where every dollar of the AI buildout flows. |
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| Every AI server that gets manufactured needs a substrate, a physical board that holds the chips together and lets them communicate. That board is made from copper-clad laminates. |
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| And the world's largest producer of those laminates is based in Hong Kong, with 60+ manufacturing facilities across China and Thailand, a chemicals operation that controls its own raw material inputs, and a 33-year unbroken dividend history. |
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| Kingboard had been making the physical materials that AI infrastructure runs on at scale for decades before the market connected those dots. |
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| The company has raised laminate prices five times in 2026 alone, with cumulative increases exceeding 50% — pricing power that was always there, just not yet priced in. |
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| Our AI flagged the structural reason: vertical integration across chemicals, laminates, and PCBs gives Kingboard a cost and supply chain advantage that less integrated competitors can't easily replicate. |
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| Source: Investing.com’s Kingboard Pro Research |
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| ProPicks AI’s Hong Kong Tech Titans strategy is up 39.36% this year. The Hang Seng is down 6.66%. |
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| Kingboard trades on the Hong Kong Stock Exchange (HK:0148), so direct access requires a broker with international market access. |
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| But the point of this Spotlight isn't a buy signal. It's an illustration of where ProPicks AI looks, and what it finds when it does. |
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| New picks for July will be released this Wednesday. Is the next Kingboard among them? |
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| *Data correct to: 22.6.2026 |
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