Brief: Hua Hong Semiconductor Posts Qtrly Net Profit Of $185.8 Million

Hua Hong Grace Semiconductor

14/02/2023 04:16

Feb 14 (Reuters) - Hua Hong Semiconductor Ltd  1347.HK :
    * QTRLY NET PROFIT WAS US$185.8 MILLION, 35.4% ABOVE 4Q 2021
    * SEES Q1 REVENUE TO BE APPROXIMATELY US$630 MILLION.
    * QTRLY REVENUE US$630.1 MILLION, UP 19.3% OVER A YEAR AGO
    * SEES Q1 2023 GROSS MARGIN TO BE IN RANGE OF 32% TO 34%
    * QTRLY NET PROFIT ATTRIBUTABLE US$159.1 MILLION, 19.2%
ABOVE 4Q
2021
    * WILL CONTINUE TO OPTIMIZE 8-INCH PLATFORM, TECHNOLOGY
UPGRADE OF
12-INCH PLATFORM, AND 12- INCH CAPACITY RAMP-UP
    * ALL EQUIPMENT FOR 12-INCH EXPANSION SECOND PHASE IS IN
PLACE AND
CAPACITY WILL BE INCREASED THROUGHOUT 2023 TO 95,000 WPM
    * WORK ON CONSTRUCTION OF A NEW FAB WILL START IN DUE COURSE

Further company coverage:  1347.HK 
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