Financial Wire

Shenzhen Huaqiang Industry Forecasts Up to 120% Surge in Q1 Profit

-- Shenzhen Huaqiang Industry (SHE:000062) forecasts an 80% to 120% rise in its net attributable profit to between 190 million yuan and 232.3 million yuan in the first quarter from 105.6 million yuan in the year-ago period, according to a Wednesday filing with the Shenzhen bourse.

The electronic information products maker attributed the expected rise to an increase in revenue from its storage products, with shipments surging 250% year over year, the filing said.

Shares decreased 2% during the midday break on Wednesday.

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Shenzhen Huaqiang Industry Forecasts Up to 120% Surge in Q1 Profit | Financial Wire