International Precision (00929) announced results for the year ended December 31, 2023. Revenue decreased 6.6 year on year...
According to the Zhitong Finance App, International Precision (00929) announced results for the year ended December 31, 2023. Revenue decreased 6.6% year over year to HK$898.7 million; annual profit decreased by 43.6% year on year to HK$15.6 million; basic profit per share was HK 0.54 cents.
Facing the economic downturn, the company achieved annual turnover of about HK$899 million, down 6.6% from the same period last year; among them, sales of electronic equipment components dropped significantly. Under the impact of solidstateDisk (SolidStateDisk) (known as “SSD”), demand for traditional hard disk drives (HDD) orders dropped sharply. This business dropped from last year's sales of HK$1591,000 to HK$36.192 million this year; therefore, this business accounts for only 4% of the company's total sales.