Â
>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<
Â
Â
Q Technology, a leading camera module producer in China, said that its net profit plummeted 87.5% year over year to 20.802 million yuan in the first half of 2023. Earnings per share was 1.8 cents. No interim dividend is declared.
Sales revenue reached about 5.477 billion yuan, sliding 22.8% from a year earlier, due to the drop in sales volume of smartphones due to macro factors, and meanwhile, as the group focused more on upgrading specifications of camera modules, the sales volume of camera modules applied to mobile phones slid by about 21.2% from a year ago.
Gross profit margin fell by 1.9 percentage points from a year ago to about 3.4% during the period, due to the increase in production cost, and the continued weakness of the exchange rate of the yuan against the US dollar, it said.
Q Technolology revised the full-year operating target for the full year of 2023, raising of target of combined sales volume of camera modules with resolutions of 32 megapixels and above applied to mobile phones and other fields, from accounting for more than 35% of the total sales volume of camera modules to more than 40%.