Financial Wire

Jiayuan Technology Sees Up to 395% Jump in Q1 Profit

-- Guangdong Jiayuan Technology (SHA:688388) forecasts first-quarter attributable net profit to range between 105 million yuan and 121 million yuan, up to 395% higher than 24.5 million yuan the previous year.

Operating revenue is seen to rise to between 3.30 billion yuan and 3.50 billion yuan, up between 67% and 77% from last year, according to a Wednesday filing with the Shanghai bourse.

The company attributes the strong performance to recovering downstream demand, increased production and sales volume, improved capacity utilization, and lower unit production costs.

Shares of the copper foil manufacturer rose 1% in recent trade.

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