The Zhitong Finance App learned that the Jiantao department continued to decline. As of press release, Jiantao Group (00148) fell 6% to HK$47.94; Jiantao Laminate (01888) fell 7.51% to HK$39.18.

According to the news, Jiantao Laminate released the latest round of price increase letters yesterday. Due to strong demand in the thin cloth market, tight supply of upstream glass cloth and glass yarn, and sharp price increases, sales prices for sheet and PP using 2116 and below thin cloth as raw materials increased 15%. This is the eighth price increase notice issued by the company during the year.

Unlike previous months, this price adjustment is for thin cloth products only, and thick cloth products are not within the scope of the price adjustment. In response, Jiantao said that the current price increase is indeed only for thin cloth sheets and PP products, and that thick cloth products are not within the price increase. “Among raw materials, the price of thin cloth increased even more, so the price increase was made for thin cloth products. There is no increase in thick cloth products.” Jiantao said.

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