Apple and Xiaomi's Supplier AAC Technologies' 1H Net Profit Down 58%
According to AAC Technologies' (02018:HK) interim financial release, its total revenue witnessed a year-on-year growth of 3.6% at CNY 7.84 billion. The sales of optic segment, acoustic segment and precision components saw stunning annual growth at 55%, 34% and 11% respectively.
Despite the revenue growth, the company's net income during the first half-year of 2020 declined 58% year-on-year at CNY 320 million. Recently invested by OPPO and Xiaomi, the company may have extra expenditure in terms of R&D and sales.
Since the financial release, AAC's stock price has declined by 7.45%.
This text is a result of machine translation.
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