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FINWIRES

Shanghai Longcheer Technology Warns of Lower Three-Month Profit

-- Shanghai Longcheer Technology (HKG:9611, SHA:603341) expects an attributable profit of around 15.4 million yuan for the three months ended March 31, down from 154.1 million yuan a year prior, according to a Tuesday Hong Kong bourse filing.

The smart device and service provider attributed the forecast to a lower revenue amid a weakened demand in the consumer electronics end market, higher costs and expenses due to investment in new business areas, and higher finance costs.

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CIBC Confirms Neutral Rating and Target of $288 on Intact Financial Ahead of Q1 Results

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