Hongteng Precision (06088) rose more than 11%. As of press release, it rose 11.32% to HK$2.36, with a turnover of HK$585.22,300.
The Zhitong Finance App learned that Hongteng Precision (06088) rose by more than 11%. As of press release, it had risen 11.32% to HK$2.36, with a turnover of HK$585.22,300.
According to the news, Hongteng Precision recently announced that the Group's net profit for the three months ending March 31, 2024 is estimated to be between 7 million US dollars and 10 million US dollars, with a loss of about 9 million US dollars for the same period last year. The turning of losses into profit in the first quarter was mainly due to improvements in management efficiency and a gradual recovery in demand in the computer and consumer electronics and network equipment terminal markets.
CMB International previously stated that it held an NDR meeting with the management of Hongteng Precision. The management reiterated that the company's Apple AirPods production line has climbed very smoothly; it also reiterated its positive opinion on the company's FY24E annual results, and stated that at the upcoming first quarter results meeting, it will provide more information updates on orders for AI server-related products and the progress of Apple's TWS production capacity climb.