Shanghai Fudan Microelectronics Group Co (HK:1385) has released an update.
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Shanghai Fudan Microelectronics Group Co. reported a slight decrease in revenue and a significant drop in net profits for the first half of 2024, compared to the previous year. Despite a challenging market with intensified competition and lower product selling prices, the company saw an increase in total assets and net assets, with operating cash flow turning positive due to reduced product purchase costs. The company remains focused on launching new products and expanding market development to navigate the demand fluctuations in the consumer electronics sector.
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