On January 26, GLONGHUI | Jingmen Semiconductor (02878.HK) announced that the Group expects to record comprehensive profit attributable to unaudited shareholders of about US$18.5 million to US$19.5 million for the year ended December 31, 2023, a decrease of about 33.5% to 29.9% from about US$27.8 million for the year ended December 31, 2022. The main reasons for the decline in consolidated profit attributable to unaudited shareholders in 2023 are (i) a decrease in sales revenue, mainly due to a decrease in the average selling price of the Group's products; and (ii) a decrease in gross profit and gross margin, which is mainly due to the decline in the average sales price of products disproportionate to the decrease in the cost of some of the Group's products.
Although the overall profit attributable to unaudited shareholders was reduced in 2023, the board of directors wishes to emphasize that the Group's total IC shipments in 2023 will continue to grow steadily compared to 2022, indicating the Group's ability to maintain a stable market share under unfavorable market conditions. The Group's product development strategy meets market needs, enabling IC shipments to grow steadily, and the Group will continue to implement current strict and effective cost control measures to improve operational efficiency.