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BIWIN Expects Return to Profit in H1

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BIWIN Storage Technology (SHA:688525) expects to post an attributable profit of between 700 million yuan and 750 million yuan in the first half, rebounding from an attributable loss of 225.8 million yuan in the year-ago period, according to a Thursday filing with the Shanghai bourse.

The semiconductor company expects revenue to surge 283% to 309% to between 15 billion yuan and 16 billion yuan.

BIWIN attributed the forecast to an "explosive" growth of artificial intelligence computing power and higher investment in chip design, as well as advanced packaging and testing.

Shares fell 6% during morning trading on Thursday.

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