Hua Hong Semiconductor Ltd. (HK:1347) has released an update.
Hua Hong Semiconductor Ltd. reported a significant increase in net profit for Q3 2024, with a notable 222.6% rise compared to the same period last year, despite a 7.4% drop in revenue. The company credits its diversified product structure and operational efficiency for its resilience amid a complex market environment, while also progressing with the construction of a new production line in Wuxi to boost future growth. Looking ahead, Hua Hong anticipates revenues to reach up to $540 million in the fourth quarter.
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