Hongchang Electronics: Net profit in the first quarter was 468,500 yuan, a year-on-year decrease of 92.74%
Hongchang Electronics reported a significant drop in net profit for the first quarter of 2026, with earnings falling by 92.74% to 468,500 yuan. Despite a substantial 76.81% increase in revenue to 989 million yuan, the company's profitability was impacted by increased costs associated with new production facilities and product certifications. The new plants, including Zhuhai Hongchang Phase II and Zhuhai Hongren, are in the process of ramping up production, leading to higher expenditures that affected the overall net profit. AI