Giga Device Semiconductor (SHA:603986) forecasts its attributable profit to surge 576% to 1.09 billion in 2024 from 161.1 million yuan in 2023, according to a Wednesday filing with the Shanghai Stock Exchange.
The foreseen surge is attributable to a rebound in demand in the downstream market, resulting in higher revenue, among other factors, the filing said.
Shares rose 3% during Wednesday's morning trading.
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