China Aerospace Times Electronics (SHA:600879) posted an 85% year-over-year drop in attributable net profit in the first half to 22.7 million yuan from 150.5 million yuan.

Earnings per share shrank to 0.012 yuan from 0.053 yuan, according to a Shanghai Stock Exchange filing on Wednesday.

Revenue tumbled 22% to 4.53 billion yuan from 5.82 billion yuan.

The company researches, develops and manufactures aerospace electronic information and unmanned system equipment for defense and civilian uses.