Fih (02038) rose more than 18% in the morning, slightly fell in the afternoon, with the stock price currently up 6.90% to 0.93 Hong Kong dollars, with a turnover of 60.7425 million Hong Kong dollars.

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 U.S. dollars, a 20% year-on-year decline; the loss narrowed from 70.2 million U.S. dollars in the same period last year to 26.211 million U.S. dollars. For the third quarter alone, revenue and other operating income were 2.26 billion U.S. dollars, down 5.3% year-on-year, with a profit of 5.432 million U.S. dollars, compared to a loss of 20.365 million U.S. dollars in the same period last year, achieving a turnaround from loss to profit.

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.