Summary by Futu AI
Hongteng Precision announced a positive profit forecast on July 8, 2024, expecting an unaudited net profit of $2.8 million to $3.3 million in the first half of 2024. This represents a significant improvement in performance compared to a net loss of approximately $9 million in the first half of 2023. The improvement is mainly due to improved group management efficiency and the gradual recovery of demand for computer and network terminal markets. The company stated that it is still improving its financial performance for the first half of 2024 and is expected to release an audited mid-term performance announcement before mid-August. In addition, Hongteng Precision is also in discussions with independent third parties to acquire assets and shares of multiple companies engaged in the automobile business in order to expand its automobile business and electrification product range. However, this potential acquisition has not yet been confirmed, and if the transaction is concluded, it will be disclosed in accordance with listing rules.
