Summary by Moomoo AI
Hongteng Precision Technology Co., Ltd. announced its interim performance for the six months ending on June 30, 2024, with revenue reaching US$206.7 million, a year-on-year increase of 15.9%. During the period, the company's profit turned from a loss of US$9 million in the same period last year to a profit of US$33 million, with a basic earnings per share of 0.46 cents. The company is mainly engaged in the manufacture and sale of mobile and wireless devices, connectors in the communication, computer and automobile markets, and is controlled by Hon Hai Precision Industry Co., Ltd. The Company did not declare any interim dividends during the reporting period. Despite the impact of global inflation on demand for smart phones, Hongteng Precision stated that the prospects for high-end phone markets are still positive and will continue to seize business opportunities related to relevant components. The Company will also increase investment in key components of vehicle electronic systems and autonomous driving.
