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Dongguan Dingtong Precision Metal Forecasts 60% Profit Jump; Shares Down 19%

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Dongguan Dingtong Precision Metal (SHA:688668) forecasted that its net profit attributable to owners for the first half to jump 60% to 184.7 million yuan from 115.4 million yuan a year earlier, according to a Shanghai bourse filing on Friday.

Operating revenue is expected to climb 31% to 1.03 billion yuan from 784.6 million yuan a year earlier.

The Chinese communication connector manufacturer attributed the forecast to growing demand and production of its high-speed communication connectors, such as 112G high-speed connector products, 224G air-cooled products, and liquid-cooling products that would be used for data centers.

The company's shares slumped 19% during the afternoon trade.

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