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ASR Microelectronics Expects to Return to Profit in H1; Shares Down 8%

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ASR Microelectronics (SHA:688220) expects to return to profit in the first half, with net profit attributable to owners of 85 million yuan, according to a Shanghai bourse filing on Thursday.

The attributable profit a year earlier was 245.4 million yuan.

Operating revenue is expected to climb 29% to 2.45 billion yuan from 1.90 billion yuan a year earlier.

The semiconductor company attributed the forecast to the growth in the production and sales of cellular baseband chips and custom chips for artificial intelligence.

The company's shares slumped 8% during the afternoon trade.

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