NanoFilm shares regain some ground after share buybacks, founder explains earnings miss

NanoFilm shares had plunged after the resignation of its chief operating officer and a disappointing earnings report. PHOTO: BT FILE
New: Gift this subscriber-only story to your friends and family

SINGAPORE - NanoFilm Technologies shares closed higher on Wednesday (Aug 18) after founder and executive chairman Shi Xu told a briefing about the company's recent management changes and potential for growth.

The stock closed at $3.96, up 14 cents or 3.66 per cent, after Dr Shi laid out the reasons behind a 2.3 per cent year-on-year drop in first-half net profit to $18.1 million despite revenue increasing 24.2 per cent to $96.6 million.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Follow ST on LinkedIn and stay updated on the latest career news, insights and more.