United Nova Technology Forecasts Swing to Profit in Q1-Q3
MT Newswires Live
Sep 29
United Nova Technology (SHA:688469) expects to return to profit in the first three quarters of the year, forecasting a net profit of 681 million yuan from a net loss of 463 million yuan in the year-ago period, according to a Tuesday filing with the Shanghai bourse.
The semiconductor company anticipates revenue to rise 43% to 7.77 billion yuan from 5.42 billion yuan.
United Nova attributed the potential recovery to high capacity utilization rates and optimized product structures, as well as volume sales growth, it said.
Shares of the company rose 5% recently.
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