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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.