Times Electric (03898) is now down more than 4%, as of the press release, it has dropped by 3.56%, to 25.7 Hong Kong dollars, with a turnover of 0.132 billion Hong Kong dollars.
According to the Zhitong Finance app, Times Electric (03898) is now down more than 4%, as of the press release, it has dropped by 3.56%, to 25.7 Hong Kong dollars, with a turnover of 0.132 billion Hong Kong dollars.
On the news front, Times Electric previously announced that its subsidiary, Yixing Times Semiconductors, plans to invest in the construction of low-voltage power component capacity at the Yixing project, involving 0.946 billion yuan, with an estimated construction period of 24 months. After the project is completed and put into production, it will have the capacity to produce 5 million medium and low-voltage power components annually.
HSBC pointed out that the insulated gate bipolar transistor (IGBT) market is highly competitive, with Times Electric's new business gross margin ranging from 22% to 25%, with higher gross margins in the semiconductor segment. However, the Yixing production line will be transformed into fixed assets in the second half of the year, and depreciation expenses will lead to a decrease in net income margin. The bank also pointed out that energy storage product prices are still declining, but the company expects an increase in sales volume. The bank also quoted the company as saying that heavy truck sales will significantly increase, with an expected order of 300 vehicles for the full year.