China's Hua Hong Semiconductor falls on quarterly loss

Hua Hong Grace Semiconductor

14/02/2025 02:08

** Hong Kong shares of Hua Hong Semiconductor Ltd  1347.HK 
fall 5.9% to HK$24.75, on course for their biggest one-day pct
drop since Jan. 27 
    ** Shenzhen stock  688347.SS  falls 3.6% 
    ** Co posts $25.2 mln loss in 4Q 2024, compared to a net
profit of $35.4 mln in 4Q 2023 and $44.8 mln in 3Q 2024, amid
foreign exchange losses
    ** Revenue $539.2 mln and gross margin 11.4%
    ** Co expects revenue to be about $530 mln-$550 mln in first
quarter of 2025 and gross margin in the range of 9%-11%
    ** The Hang Seng Commerce & Industry Index  .HSNC  rises
1.5%, the Hang Seng Index  .HSI  gains 1.2%
    ** Co's Hong Kong stock rose 14.7% last year, Shenzhen
shares climbed 8.7%

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))