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08/10/2021 09:47

AAC Tech (02018) sees decrease in Q3 profit

[ET Net News Agency, 8 October 2021] AAC Technologies Holdings Inc. (02018) said the
unaudited consolidated profit attributable to owners of the company for the three months
ended 30 September 2021 (Q3 2021) is expected to decline to a range of RMB166 million and
RMB210 million, representing a decline of approximately 51% to 61% as compared with that
for the corresponding period in 2020 (Q3 2020).
In Q3 2021, the company expects to report an exchange loss or a much less exchange gain
as compared to the substantial exchange gain in Q3 2020, which to a large extent,
contributed to the decrease in the group's net profit of Q3 2021. Furthermore, the
disrupted global supply chain due to COVID-19, the increase in operation costs in China,
and weaker demand from PRC domestic customers on the back of chip shortage resulting in
delays and cancellation of certain phone models, also contributed to the material adverse
impact on the group's net profit of Q3 2021. Nevertheless, the company remains positive in
the growth prospects of all of the business segments and cautiously optimistic in the
medium to long term outlook. The unaudited consolidated profit attributable to owners of
the company for the nine months ended 30 September 2021 (9M 2021) is expected to increase
to a range of RMB1,087 million and RMB1,131 million, representing an increase of
approximately 45% to 51% as compared with that for the corresponding period in 2020. (RC)

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