Futu News on June 17, after trading last Friday.$Qiu Titanium Technology (01478.HK) $With the release of Yingxi, the interim results are expected to change from a loss of 150 million yuan to a profit of 180 million yuan. Qiu Ti continued to rise after opening 2% higher on Monday, up 5.15% as of press release to HK $5.92:

It is reported that Qiu Ti Technology announced in the announcement that the company expects to record a comprehensive profit of about 150 million yuan to 180 million yuan before tax for shareholders in the six months ended June 30, 2019, compared with a loss of 51.29 million yuan in the same period last year.

The expected comprehensive profit is mainly due to the following factors: (I) the sales volume of camera modules has increased significantly, the product structure of fingerprint recognition modules has been significantly improved, and the gross profit margin of comprehensive products has increased significantly compared with the same period last year; (ii) the upgrading of production automation has gradually achieved results, and labor costs have been optimized compared with the same period last year. And (iii) Xinju Technology Co., Ltd., an associate of the Company, made a significant improvement and made a profit from January to April 2019 as compared with the same period last year.

Nomura has previously published a research report that Qiu Ti Technology may be affected by Huawei's further order cuts, so it lowered its profit forecast for this year and next fiscal year by 9-14%, downgraded the company's rating from "buy" to "neutral", and reduced its target price by 32% from HK $10 to HK $6.8.

Nomura mentioned that shipments of Qiu Titanium camera modules in May were roughly in line with expectations, but the decline in shipments of fingerprint recognition modules was due to a reduction in the business of capacitive fingerprint recognition modules. The bank believes that Huawei's suspension of new smartphone projects in the second half of this year and the first half of next year may make the situation more challenging in the next quarter or two, with the impact on Qiu Ti Technology gradually becoming apparent in June, even greater than expected.