Changfei Optical Fiber Cable (06869) fell by more than 4%. As of press release, it was down 3.99% to HK$8.9, with a turnover of HK$18.282 million.
The Zhitong Finance App learned that Changfei Optical Fiber Cable (06869) fell by more than 4%. As of press release, it had a decrease of 3.99% to HK$8.9, with a turnover of HK$18.282 million.
According to the news, Changfei Optical Fiber Cable will announce its results this Thursday (March 28). According to the company's third quarter report, in the first three quarters, the company achieved revenue of 10.029 billion yuan, a year-on-year decrease of 2.08%; net profit to mother of 881 million yuan, an increase of 0.59%; after deducting non-net profit of 710 million yuan, a year-on-year decrease of 10.23%.
Goldman Sachs previously released a research report saying that China's demand for optical cables continued to weaken in the fourth quarter of 2023, and telecommunications companies' procurement was still insufficient. Demand prospects are expected to weaken for the next six months before China Mobile may launch a new tender in July 2024. As telecommunications companies' capital expenditure shifts from traditional networks to cloud-based data centers, long-term demand prospects are expected to weaken, so profit forecasts, target prices, and ratings for Changfei Optical were lowered.