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Ability Opto-Electronics Technology Reports Strong October Figures, Monthly Net Profit Reaches 26.05% YoY Growth

a 3362.TWO Mid and Small Cap 2000 Tech 350
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Ability Opto-Electronics Technology, a prominent laptop lens manufacturer, has experienced significant share price fluctuations recently. Responding to the OTC Buying Center’s request, the company disclosed its self-financed figures for October. Notably, the net profit after tax in October reached 66.94 million yuan, representing a substantial annual increase of 26.05%. The monthly earnings per share (EPS) was reported at 0.47 yuan.

The company’s operations in the second half of the year witnessed rapid heating, and its profit performance in the third quarter outpaced the first half. Despite a 24% surge in stock prices last week, the shares experienced a pullback and consolidation, declining by 1.62% to 182.5 yuan.

According to Ability Opto-Electronics Technology’s announcement, revenue for October stood at 376 million yuan, reflecting a 0.2% monthly increase and a noteworthy 21.4% annual growth. Cumulative revenue for the first ten months reached 3.326 billion yuan, indicating a consistent annual growth performance of 6.3%.

In October, the pre-tax net profit surged to 92.65 million yuan, marking an impressive 48.39% YoY increase. The positive momentum continued in after-tax net profit, which reached 66.94 million yuan, showcasing a strong annual growth of 26.05%. Earnings per share witnessed a notable 23.68% YoY increase, reaching 0.47 yuan.

Industry analysts predict a rebound in the laptop market, which has experienced subdued demand since the second half of the previous year. Advanced Optoelectronics, with key laptop customers among major U.S. manufacturers, has started to witness increased customer orders in the third quarter. The growth is expected to persist as laptop demand continues to rise. Additionally, the company highlighted progress in two new areas: fingerprint recognition modules and automotive applications. Mass production of new fingerprint recognition products is slated for the coming year, and the company anticipates attracting new customers in the automotive sector with ongoing investments driving growth momentum in the coming year.

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