HK Stock Market Move | JOHNSON ELEC H(00179) fell nearly 3% in midday trading, with a 5% year-on-year drop in revenue for the first three quarters. It is expected that the full-year sales will achieve a mid-single-digit decline.

JOHNSON ELEC H(00179) fell by nearly 3% during the trading session, and at the time of writing, it had dropped by 2.22%, closing at 10.56 Hong Kong dollars, with a turnover of HK$51.921 million. On the news front, JOHNSON ELEC H announced that for the nine months ending on December 31, 2024, the group's turnover was 2.73 billion US dollars, a 5% decrease compared to the same period last year. Exchange rate fluctuations had an adverse impact of 11 million US dollars on the group's turnover. Among them, the turnover of the automotive product group was 2.314 billion US dollars, a decrease of 108 million US dollars compared to the same period in the 23/24 fiscal year. Excluding the foreign exchange impact, the turnover of the automotive product group decreased by 97 million US dollars or 4%. Chairman and CEO Wang Suizhong said that due to the weak global light vehicle semiconductor production, weak consumer demand, and price competition in multiple other manufacturing product divisions, the company has been negatively impacted. The high uncertainty of the macroeconomic environment has dampened consumer willingness to spend and caused many customers to delay the launch of new products. It is currently expected that the group's annual sales will decline by a low single-digit percentage compared to last year.