Quectel Wireless Solutions (SHA:603236) forecasts its attributable profit to surge 121% to about 463 million yuan in the first half from 209.4 million yuan in the year-ago period, according to a Friday filing with the Shanghai bourse.
The foreseen surge is attributable to a 39% year-over-year rise in operating income to about 11.5 billion yuan during the half, accompanied by its diversification to Internet-of-Things from module supplies, the filing said.
Shares fell 5% during Friday morning trading.
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