Champion Technology Soars Over 9% in Pre-Market This Morning, with Previous Guidance for Mid-Year Profit Growth of Approximately 167%

Champion Technology (00580) surged 8.98% in pre-market trading, with a current price of HK$1.82 and a turnover of HK$33,175.88 million.

Champion Technology plans to hold a board meeting on August 22 (this Friday) to approve its mid-year performance. The company had previously announced that it expects its half-year profit to be around CNY90 million, with a year-on-year growth of approximately 167%, mainly due to significant increases in long-term foreign exchange contracts. Half-year revenue is expected to grow by approximately 34% to CNY880 million, primarily driven by the delivery of products from ongoing engineering projects and increased sales of self-produced insulating substrate bipolar transistors.