CLP Huada Technology (00085) announced interim results. Profit attributable to shareholders of HK$310 million decreased by 44.01% year-on-year

According to the Zhitong Finance App, CLP Huada Technology (00085) announced interim results for the six months ended June 30, 2024. Group revenue was HK$1,361 million, a year-on-year decrease of 24.7%; profit attributable to shareholders was HK$310 million, a year-on-year decrease of 44.01%; and profit per share was HK$15.25 cents.

The announcement said that looking forward to the future, global demand for smart cards will continue to be in a downward cycle, competition in the domestic integrated circuit industry and market will be more intense, and the downward trend in product sales prices will be more obvious. On the other hand, although the growth of the security chip business has slowed down due to weak macroeconomics, the security demand for intelligent devices continues to increase, and future security chip applications will become more extensive, which will bring new market opportunities to the Group's business. While opportunities and challenges coexist, the Group will continue to closely track domestic market demand, seize market opportunities, actively explore potential customers, and consolidate its leading position in the field of smart cards and security chips.