Hua Hong Semiconductor Ltd. (HK:1347) has released an update.
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.
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