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Shengyi Electronics Expects Up to 114% Growth in H1 Profit; Shares Up 3%

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Shengyi Electronics (SHA:688183) forecasts that its net profit attributable to owners for the first half will soar by 104% to 114% year on year to between 1.08 billion yuan and 1.14 billion yuan, according to a disclosure on the Shanghai bourse on Tuesday.

The attributable profit a year earlier was 530.5 million yuan, or 0.65 yuan per share.

Operating revenue is expected to jump by 49% to 58% to a range of 5.62 billion yuan to 5.94 billion yuan.

The circuit board product manufacturer attributed the upbeat forecast to the expansion of its output and market reach.

The company's shares rose 3% during the morning trade.

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