[ET Net News Agency, 8 February 2018] Hua Hong Semiconductor (01347) said its net
profit for the year ended 31 December 2017 rose 12.8% year-on-year to US$145 million.
Revenue amounted to US$808 million, an increase of 12% from a year earlier. Gross profit
grew 21.3% year-on-year to US$267 million. Gross margin was 33.1%, 2.6 percentage points
higher than 2016.
For the fourth quarter of 2017, Hua Hong Semiconductor's net profit amounted to US$41.5
million, an increase of 17.4% quarter-on-quarter and 8.7% year-on-year. Revenue continued
to make history, reaching another new high of US$216.9 million, an increase of 3.3% over
3Q 2017 and 11.8% higher than 4Q 2016. Gross margin was 33.7%, 1.5 percentage points lower
compared to 3Q 2017 but 2.7 percentage points higher than 4Q 2016.
Hua Hong Semiconductor expects revenue to be between US$209 million and US$210 million
in the first quarter of 2018. The slight decrease quarter over quarter is due to
seasonality and annual maintenance of our two fabs. Year over year, revenue is expected to
grow 14% to 15%. Gross margin is expected to be about 30%. (HL)