Huada Technology Forecasts Profit Decline

China Electronics Huada Technology Company Limited (HK:0085) has released an update.

China Electronics Huada Technology Company Limited has issued a profit warning, expecting a significant drop in consolidated profit for the first half of 2024, with estimates ranging between HK$300.0 million and HK$330.0 million, compared to HK$552.9 million in the previous year. The anticipated decline is due to oversupply in integrated circuits leading to fierce competition and reduced selling prices of the company’s products. Shareholders and potential investors are cautioned to consider this preliminary assessment with care as actual results may vary.

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