-- Ingenic Semiconductor's (SHE:300223) net profit attributable to shareholders in the first quarter surged 332% to almost 319 million yuan from 73.9 million yuan a year earlier, according to a Shenzhen bourse filing on Wednesday.
Earnings per share soared 331% year on year to 0.66 yuan from 0.15 yuan.
Operating revenue jumped 47% to 1.56 billion yuan from 1.06 billion yuan in the previous year.
The fabless semiconductor company's shares rose 1% at the close.
Fortune Minerals (FT.TO), which saw its shares jump 25% to shy of 52 week highs yesterday, recently applied to two government agencies for funding to build an access road to its Nico mine in the Northwest Territories, the company said on Wednesday.Fortune, in a joint venture with the Tlicho Government to develop the access road, has applied to the Canadian government's Critical Minerals Infrastructure Fund (CMIF) for up to $50 million.The company has also responded to a U.S. Defense Industrial Base Consortium (DIBC) request for project proposals to boost domestic bismuth production. Fortune previously secured U.S. government support to advance the Nico project to a construction decision, a statement said.Nico is the largest deposit of bismuth in the world with 12% of global reserves. The company's planned hydrometallurgical facility in Alberta will produce 99.99% pure bismuth ingot and oxide products, along with cobalt and copper critical mineral products. The Nico deposit in the NWT is within Tlochi territory, 160 km northwest of the City of Yellowknife.Fortune Minerals closed up $0.035, to $0.17 per share on Tuesday on the Toronto Stock Exchange.
The US advance international trade in goods deficit widened to $87.87 billion in March from $83.49 billion in February, according to data released by the US Census Bureau.This was a slightly smaller gap than the $88.0 billion deficit expected in a survey compiled by Bloomberg.Exports rose by 2.5% in March while imports were up by 3.3%.In the same report, wholesale inventories rose by 1.4% in March after a 0.9% increase in February. Analysts polled by Bloomberg expected wholesale inventories to increase by 0.4%.Retail inventories were up 0.7% in March following a 0.3% increase in the previous month. This was a larger increase than the 0.1% gain expected by analysts. Excluding a 1.2% increase in motor vehicle inventories, retail inventories were up 0.5% in the month.
Propel Holdings (PRL.TO) amended and upsized its existing credit facility for its Canadian business, Fora, it said Wednesday.The commitment under the Fora facility increased to $40 million from about $26 million. The Fora credit facility will bear interest equal to the prime rate plus 275 basis points per annum, representing a reduction in the cost of the facility by about 200 basis points, the company said."This Amendment lowers our cost of capital and supports the ongoing growth of our Canadian business," said Propel Chief Executive Clive Kinross. "It reflects the strength of our platform, our demonstrated performance and continued momentum in Canada and globally."Shares of the company closed down 6% to $20.55 on Tuesday on the Toronto Stock Exchange.