Shenzhen Highpower Technology Forecasts Up to 272% Surge in H1 Profit

MT Newswires Live07-09

Shenzhen Highpower Technology (SHE:001283) forecasts attributable net profit to grow by 228% to 272% to between 90 million yuan and 102 million yuan in the first half from 27.4 million yuan in the year-ago period.

Operating income at the Chinese industrial batteries manufacturer is expected to grow 16% to 21% to between 2.68 billion yuan and 2.80 billion yuan from about 2.32 billion yuan in the prior-year period, according to a Wednesday filing with the Shenzhen bourse.

The upbeat forecast is attributable to lower manufacturing and management costs, among other factors, the filing said.

Shares rose 1% during afternoon trading on Wednesday.

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