Eoptolink Expects H1 Profit to Rise by Up to 103%; Shares Up 4%

MT Newswires Live07-20

Eoptolink Technology (SHE:300502) expects its net profit attributable to shareholders in the first half to jump by between 78% and 103% year on year to a range of 7 billion yuan to 8 billion yuan, according to a Shenzhen bourse filing on Monday.

The attributable profit a year earlier was 3.94 billion yuan.

The company attributed the forecast to an increase in revenue due to the growth in investment in artificial intelligence-related computing power. The non-recurring gains and losses will also increase net profit by approximately 19 million yuan.

The optical transceiver module manufacturer's shares rose 4% during the morning trade.

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