SHE:300620

2 stories mentioning SHE:300620Updated just now

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Advanced Fiber Resources Unit to Buy 99.97% Stake in Optical Technology Company; Shares Slide 8%

Advanced Fiber Resources (Zhuhai) (SHE:300620) subsidiary Zhuhai AFR Technology will purchase a 99.97% stake in Suzhou Agix Optical Technology for 1.64 billion yuan, according to a Thrusday after-market filing with the Shenzhen bourse.AFR will pay the selling shareholders a combination of 491.9 million yuan in cash, 655.8 million yuan in newly-issued shares, and 491.8 million yuan in convertible bonds.AFR will also seek to raise 800 million yuan in a private placement of 12.6 million to 35 investors.Shares fell 8% during the midday break on Friday.

SHE:300620

Asia64d ago

Advanced Fiber Resources Q1 Profit Surges 313%; Shares Fall 10%

Advanced Fiber Resources Zhuhai (SHE:300620) posted first-quarter attributable net profit of 44.7 million yuan, up 313% from 10.8 million yuan the previous year.Earnings per share rose to 0.1767 yuan from 0.0430 yuan, according to a Thursday filing with the Shenzhen bourse.Revenue rose 61% year over year to 426.5 million yuan from 265.2 million yuan.Shares of the passive optical components manufacturer were down 10% in recent trade.

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