On April 15, GLONGHUI | FIT HON TENG (06088.HK) announced that the Group's unaudited net profit for the first quarter of 2024 is estimated to be between US$7 million and US$10 million, while the unaudited net loss for the first quarter of 2023 is approximately US$9 million.
The net loss for the first quarter of 2023 was converted to net profit for the first quarter of 2024, mainly due to (1) the improvement in the Group's management efficiency and (2) the gradual recovery in demand in the computer and consumer electronics and network equipment terminal markets.