As of the time of publication, fih (02038) rose more than 18% in the morning, up 16.09% to HK$1.01, with a turnover of 25.2769 million Hong Kong dollars.
According to the Wise Financial APP, fih (02038) rose more than 18% in the morning, up 16.09% to HK$1.01, with a turnover of 25.2769 million Hong Kong dollars.
On the news front, fih previously announced that as of the end of September, the revenue and other operating income for the first three quarters were $4.15 billion, a 20% year-on-year decrease; losses narrowed from $70.2 million in the same period last year to $26.211 million. In the third quarter alone, revenue and other operating income were $2.26 billion, a 5.3% year-on-year decrease, with a profit of $5.432 million, turning losses of $20.365 million in the same period last year into profits.
The announcement stated that looking ahead, the company expects a year-on-year decrease in sales for the 2024 fiscal year, mainly due to fierce competition and changes in customer outsourcing strategies leading to a decrease in sales. Although operating expenses have been reduced, low asset utilization remains a major challenge. The company expects financial performance to improve in the second half of the year through measures such as optimizing customer portfolios and reducing expenses.