Jiangsu Etern Forecasts Up to 120% Jump in H1 Profit; Shares Fall 8%

Jiangsu Etern (SHA:600105) forecasts first-half attributable net profit of between 500 million yuan and 700 million yuan, compared with 318.5 million yuan the previous year. The between 57% and 120% year-over-year increase is driven by the optical communications segment, which benefited from the digital economy acceleration and booming artificial intelligence computing demand, according to a Monday filing with the Shanghai bourse. Shares of the telecommunication cable and wire manufacturer fell 8% in recent trade.