China’s No. 2 Chipmaker Posts Record Quarterly Revenue, but Sees Slowing Growth

Hua Hong Semiconductor Ltd. reported a 10th consecutive quarter of record revenue and solid profit growth in its latest reporting period, sparking a 4% jump for shares of the world’s sixth-largest contract chipmaker on Wednesday.

Hong Kong-listed Hua Hong’s revenue rose 19.3% year-on-year in last year’s fourth quarter to $630.1 million, while its profit rose by a similar 19.2% to $159.1 million, according to its earnings report released Tuesday. While the revenue represented a new quarterly record, it also marked the slowest growth rate in more than two years.