Hua Hong Semiconductor Ltd. (HK:1347) has released an update.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Hua Hong Semiconductor Ltd. reported a rise in revenue to $478.5 million in Q2 2024, with a gross margin of 10.5% and net profit of $6.7 million, signaling a slow recovery in the semiconductor market. The company anticipates further growth, projecting Q3 revenues between $500 million to $520 million with improved gross margins. With a second production line on the horizon, Hua Hong Semiconductor is poised to expand capacity and enhance its technological offerings.
For further insights into HK:1347 stock, check out TipRanks’ Stock Analysis page.