Integrated circuit chip designer China Electronics Huada Technology (HKG:0085) expects an attributable profit of between HK$135 million and HK$150 million for the six months ending June 30, down from HK$309.5 million a year prior, a Tuesday Hong Kong bourse filing said.

The anticipated decline in profit was mainly due to a lower revenue and gross profit margin amid a sluggish demand for smart cards, intense competition, and a significant drop in the selling prices of smart card and secure element chip products among other factors.