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Hua Hong Semiconductor expects its Q net profit to increase by 3.9% – 45% year-on-year to 1.25 billion yuan – 1.75 billion yuan, according to a filing to the Shanghai Stock Exchange, as the chip maker revealed the information in its A-share prospectus.
Profit after the deduction of extraordinary profit or loss for the six months ending June 30 will be between 1.15 billion yuan and 1.65 billion yuan, which will be up by 2.9% – 47.6% from 12 months earlier. Operating revenue is seen to be between 8.5 billion yuan and 8.72 billion yuan, which represents a year-on-year growth of approximately 7.19% to 9.96%.
Hua Hong plans to raise up to 18 billion yuan in an initial public offering in Shanghai.
