BY ORIENTAL HEAUS.COM, Hongkong.
BOE Varitronix Limited (00710.HK), a BOE sub company, which design, manufacture and sale of liquid crystal displays and related products, mostly for vehicles, lose its stock price by approximately 14% off to HKD 4.45 today (22nd, January).
BOEV is expected to record a significant decrease in net profit for the year ended 31 December 2017 by approximately 60% as compared with that in 2016.
Based on information currently available, the expected decrease in net profit is mainly due to the decrease in gross profit margin attributable to the intense competition in the thin film transistor (“TFT”) market and the increase in manufacturing overheads and operating costs resulted from the development and expansion of the Group’s TFT business.
Shareholders and potential investors are advised to read carefully the audited annual results of the Group for the year ended 31 December 2017 which Annual results of the Group for the year ended 31 December 2017 will be announced in March 2018 and the related annual report which will be published subsequently.
BOEV also said that financial position considered remains solid.