Contel, a low-priced stock (01912), rose sharply on heavy volume today, gaining over 160% in the final trading session. As of the time of publication, it rose 131.25%, closing at HK$0.111, with a turnover of HK$16.8188 million.
According to the Wisdom Finance APP, Contel, a low-priced stock (01912), rose sharply on heavy volume today, gaining over 160% in the final trading session. As of the time of publication, it rose 131.25%, closing at HK$0.111, with a turnover of HK$16.8188 million.
On the news front, National Integrated Circuit Industry Investment Fund Phase III Co., Ltd. was officially established on May 24th with a registered capital of 344 billion yuan. Soochow Securities stated that the Phase III fund's size exceeded expectations and it is the largest fund project in China's chip sector history. It is expected that the Phase III fund will focus on AI-related chips, and strengthen investments in computing and storage chips, based on support for semiconductor equipment and materials.
Contel previously announced its annual performance for 2023 with revenue of $66.32 million, a 45.5% year-on-year decline, and losses widened from $1.58 million in the previous year to $9.75 million. According to the company's financial report, the group's revenue mainly comes from sales of the following five categories of IC products and electronic components: mobile devices and smart charging; electric machine control; sensors and automatic control; LED lighting; and RF power supplies.