Q Technology (HKG:1478) forecasts its consolidated profit will surge 200% to 280% in 2024 from 83.5 million yuan in 2023, according to a Tuesday filing with the Hong Kong Exchange.
The foreseen surge is attributable to higher sales for camera and fingerprint recognition modules during the year, with a focus on mid-to-high-end camera modules, the filing said.
Marginal costs also declined due to a higher capacity utilization rate, the filing said.
Q Technology is also studying the impact of including 1.30 billion Indian rupees in provisions as its Kunshan Q Tech Microelectronic (India) unit is involved in a tax dispute with Indian authorities, the filing said.
The camera modules maker plans to release 2024 results in mid- to late-March.
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