FINWIRES · TerminalLIVE
FINWIRES

SEICHI's H1 Profit Jumps 60%, Logs 31 Million Yuan in Impairment Losses; Shares Dip 13%

By

Shenzhen SEICHI Technologies' (SHA:688627) net profit attributable to shareholders for the first half jumped 60% to 48.9 million yuan from 30.6 million yuan a year earlier, according to a Shanghai bourse filing on Wednesday.

Earnings per share climbed 58% year over year to 0.52 yuan from 0.33 yuan.

Operating revenue rose 81% to 803.7 million yuan from 443.6 million yuan in the previous year.

Meanwhile, the semiconductor company recorded total impairment provisions of 30.5 million yuan in the same period.

The impairment provisions included credit impairment losses of 23.3 million yuan and asset impairment losses of 7.2 million yuan.

The company's shares slumped 13% in recent trade.

Related Articles

Asia

Market Chatter: Mitsubishi Logistics Plans $40 Million Investment in Two New Distribution Centers in US

Mitsubishi Logistics (TYO:9301) plans to build two new distribution centers in Charlotte, North Carolina, and Houston, Texas, in the U.S. with an investment worth $40 million and later sell the assets, boosting returns on equity, Nikkei Asia reported Wednesday.The investments are part of a plan to expand the overseas real estate business of the company, with the completion of the centers scheduled for 2027, the report said.The new centers, located in the Sun Belt, will span 230,000 square feet in Charlotte and 710,000 square feet in Houston. The proceeds from selling the assets will be used to fund other growth investments, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Nikkei 225TYO:9301
Asia

Viva Leisure Declares Maiden Dividend, Shares Rise 9%

Viva Leisure's (ASX:VVA) board declared a maiden dividend of AU$0.03 per share payable Oct. 20 to shareholders on record as of Sept. 29, according to a Wednesday Australian bourse filing.Its shares rose 9% in recent trading on Wednesday.

ASX:VVA
Asia

ITMAX System Bags New Order Worth MYR187 Million

ITMAX System (KLSE:ITMAX) has secured an order worth 186.8 million ringgit from the Pertubuhan Keselamatan Sosial (Perkeso), according to a Tuesday filing to the Malaysian stock exchange.The company's shares were down over 1% in Wednesday's trade.Under the contract, the company will develop, integrate, deploy, operate and maintain Perkeso's artificial intelligence (AI)-powered employment portal.The contract will be valid for five years starting Sept. 1 to Aug. 31, 2031.

KLSE:ITMAX