Changes in Hong Kong stocks | Jiantao Laminated Board (01888) fell more than 6% at the end of the session, and the company issued another price increase letter, Citigroup indicated that the company's stock price fell negatively due to macroeconomic negative decline

The Zhitong Finance App learned that Jiantao Multilayer Board (01888) fell by more than 6% at the end of the session. As of press release, it decreased by 6.13% to HK$41.96, with a turnover of HK$2,777 billion.

According to the news, on October 14, Jiantao Laminated Board Sales announced the latest round of price increase letters. Due to strong demand in the thin cloth market and tight supply of upstream glass cloth and glass yarn, and a sharp rise in prices, the sales price of sheet and PP using 2116 or less thin cloth as raw materials will be raised 15% since receiving orders today. This is the eighth price increase notice issued by the company during the year.

Citi published a research report saying that this price increase does not cover all CCL, but only for high-end products. The bank believes that as long as inflationary pressure continues, it is only a matter of time before the price increase for thick cloth is ultimately a matter of time. According to the bank, Jiantao Laminate's stock price fell by more than 15% in the past week due to negative macroeconomic news, but it was not a problem with the company itself. The bank reaffirmed the “buy/high risk” rating, and the target price remained at HK$96.