Yuanjie Semiconductor Technology’s profit gain matches its elevenfold share price increase over the past year
Net profit in the three months ended March 31 jumped 1,153 per cent year on year to 179 million yuan (US$26.2 million), while revenue grew 321 per cent to 355 million yuan, the Shanghai-listed company said in a stock-exchange filing on Monday.
Founded in 2013 and based in northwest China’s Shaanxi province, the company manufactures laser chips used in applications including AI data centres.
Yuanjie’s share price also increased elevenfold over the past year, closing at 1,418 yuan on Monday and topping baijiu maker Kweichow Moutai as China’s costliest stock. Yuanjie’s market capitalisation stood at 121.8 billion yuan, paling in comparison with Cambricon’s 572.1 billion yuan.
Source: News - South China Morning Post
