Top form int'l (00333.HK) announced that it expects to record a net profit close to breakeven for the full year ending June 30, 2024, compared to a net loss of 78.5 million yuan for the same period in 2023.

The company explained that the expected turnaround from loss to profit is due to an increase in demand from major customers leading to higher sales revenue; a higher profit margin product mix, streamlined production network, and improved production efficiency; as well as strict cost control measures, resulting in an improvement in gross margin for the current year.