Shanghai Fudan Microelectronics (HKG:1385, SHA:688385) expects attributable net profit of 800 million yuan to 1 billion yuan for the six months ended June 30, up 313% to 416% from 193.6 million yuan a year earlier, according to a Tuesday filing with the Hong Kong bourse.

The integrated circuit maker expects first-half revenue of 2.20 billion yuan to 2.40 billion yuan, up 20% to 31% from 1.84 billion yuan in the prior-year period.

The company attributed the expected growth to stronger revenue and gross profit across its integrated circuit design business amid an industry recovery and higher downstream demand, as well as new product launches that improved product mix and operating efficiency.

Hong Kong-listed shares of the firm were up over 8% in Wednesday morning trade.