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