Hygon IT Expects H1 Profit to Jump Up to 85%

MT Newswires Live10:27

Hygon Information Technology (SHA:688041) forecast its net profit attributable to owners in the first half to rise by between 74% and 85% year on year to a range of 1.70 billion yuan to 1.83 billion yuan, according to a Shanghai bourse filing on Friday.

The attributable profit a year earlier was 1.20 billion yuan, or 0.52 yuan per share.

Operating revenue is expected to jump by between 56% and 70% to a range of 8.50 billion yuan to 9.30 billion yuan from 5.46 billion yuan in the previous year.

The Chinese chip manufacturer attributed the forecast to the expansion of its market reach, especially for its high-end processor products, while increasing its research and development investment amid the large-scale deployment of artificial intelligence agent applications.

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