Longcheer Holdings' Q1 net profit soars to $4.5 million

Longcheer Holdings' net profit rocketed 1,141 per cent to 21.97 million yuan (S$4.5 million) in the first quarter.

Revenue for the three months to Sept 30 soared 103 per cent to 1.25 billion yuan from the preceding year.

The company said this was due to an increase of 69 per cent in the total shipment of units, and an increase of 19 per cent in average selling prices of handset solutions.

Earnings per share were 6.25 fen for the quarter.

Net asset value per share was 177.54 fen as at Sept 30.