Changes in Hong Kong stocks | Huahong Hongli (01347) opened down nearly 9% in the third quarter, and Hualiwei officially merged to increase net profit by more than 136% year on year

The Zhitong Finance App learned that Huahong Hongli (01347) opened nearly 9% lower. As of press release, it decreased by 8.62% to HK$61.5, with a turnover of HK$479.70 million.

According to the news, Huahong Hongli announced that in the third quarter, it achieved operating income of 6.706 billion yuan, an increase of 13.95% year on year; net profit of 835 million yuan, up 136.14% year on year. Hualiwei was officially included in the scope of the consolidated statement for the third quarter. The consolidated statement for the first quarter showed significant financial gains and operational synergy; after excluding the impact of Huahong Hongli's slight merger, the sales revenue and gross margin of Huahong Hongli's original business both exceeded the upper limit of the previous quarter's guidance.

Hualimicro's integration has been proven to bring financial benefits and operational synergy. Currently, the 12-inch business accounts for 70.7% of revenue. For the fourth quarter, Huahong Hongli expects sales revenue to be between US$1.08 billion and US$1.09 billion, and gross margin between 25% and 26%.