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Faraday Technology Clarifies Report Predicting Q3 Business Outlook

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Faraday Technology (TPE:3035) clarified a media report on its third-quarter business outlook, saying all financial and operating information should be based on its disclosures through Taiwan's Market Observation Post System (MOPS).

The clarification followed a report by Taiwan's Economic Daily News that said the company's third-quarter revenue may decline by a single-digit percentage from the previous quarter, while gross margin is expected to remain around 45%, accoridng to a Wednesday Taiwan Exchange filing.

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