Contel, a low-priced stock, rose sharply today with trading volume exceeding 160% in the last session. At the time of publication, it rose 131.25% to HKD 0.111 with a turnover of HKD 16,818,800.
Fintech News App learned that Contel, a low-priced stock, rose sharply today with trading volume exceeding 160% in the last session. At the time of publication, it rose 131.25% to HKD 0.111 with a turnover of HKD 16,818,800.
On the news front, the third phase of the National Integrated Circuit Industry Investment Fund Co., Ltd was officially established on May 24th with a registered capital of CNY 344 billion. Soochow Securities stated that the size of the fund is beyond expectations, making it the largest fund project in China's chip sector to date. It is expected that the third phase of the fund will focus on AI-related chips, and strengthen investment in computing and storage chips based on the support of semiconductor equipment and materials.
Contel previously announced its annual results for 2023, which recorded a revenue of $66.32 million, a decrease of 45.5% year-on-year. Losses expanded 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 the sales of five types of IC products and electronic components: mobile devices and smart charging; electric machine control; sensors and automatic control; light-emitting diode (LED) lighting; and radio frequency (RF) power.