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Nexchip's H1 Profit Drops 26%, Revenue Rises 12%; Shares Down 3%

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Nexchip Semiconductor's (HKG:2249, SHA:688249) profit for the period attributable to owners in the first half dropped 26% to 245.4 million yuan from 332.1 million yuan a year earlier, according to a Hong Kong bourse filing on Monday.

The chipmaker's Shanghai shares fell 3%, while Hong Kong shares rose 1% during Tuesday midday trade.

Earnings per share declined 24% year on year to 0.13 yuan from 0.17 yuan.

Revenue rose 12% to 5.77 billion yuan from 5.13 billion yuan in the previous year.

The company recommended a cash dividend of 0.056 yuan per share to shareholders, the company said in its Shanghai bourse filing on Tuesday.

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