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Solomon Systech (International) Ltd. ( (HK:2878) ) has issued an update.
Solomon Systech (International) Ltd. issued a profit warning, announcing a significant decrease in its unaudited consolidated profit for the year ending December 31, 2024. The expected profit is between US$9 million and US$10 million, a drop of approximately 53.6% to 48.5% compared to 2023 figures. This downturn is attributed to a reduction in average selling prices and shipment quantities, delays in new product launches, increased research and development costs, and higher selling expenses due to marketing efforts. Despite these challenges, the company maintains a stable gross profit margin and remains optimistic about future product launches and its long-term competitiveness.
More about Solomon Systech (International) Ltd.
Solomon Systech (International) Ltd. is a company operating in the technology sector, specializing in the design and development of integrated circuits. The company focuses on providing display IC products and system solutions for a wide range of applications, including smartphones, tablets, and other consumer electronics.
YTD Price Performance: 0.0%
Average Trading Volume: 765
Technical Sentiment Consensus Rating: Sell
Current Market Cap: €157M
For detailed information about 2878 stock, go to TipRanks’ Stock Analysis page.
