Advanced Micro-Fabrication Equipment China (SHA:688012) expects its attributable profit to increase by 32% to 41% to between 680 million yuan and 730 million yuan in the first half, from 516.7 million yuan in the year-ago period, according to a Friday filing with the Shanghai bourse.
The upbeat forecast is attributable to a 51% expected rise in operating income at the semiconductor equipment supplier to 4.96 billion yuan from 3.44 billion yuan in the prior-year period, the filing said.
The company also attributes the rise to the speed of development of new products, the filing said.
Shares rose 3% during late morning trading on Friday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.