Asia
Guangdong Fenghua Sees Up to 80% Profit Jump in H1; Shares Slump 10%
Guangdong Fenghua Advanced Technology (SHE:000636) expects its attributable net profit for the first half to surge between 61.8% and 79.8% year over year, to about 270 million yuan to 300 million yuan from 166.8 million yuan.Basic earnings per share is predicted to range between 0.24 yuan and 0.26 yuan, up from 0.15 yuan a year prior, according to a Shenzhen bourse filing on Saturday.The electronic components manufacturer attributed the anticipated profit jump to cost reduction, among others, allowing it to reduce the impact of adverse factors such as rising raw material prices.Guangdong Fenghua's shares tumbled 10% in recent trade.
SHE:000636
