share. Traded volume of CNTF totaled approximately 216 thousand shares, which is a quite high value for the stock.It appeared that China Techfaith started to move higher as soon as the company announced its latest financial results. According to the financial report, CNFT has increased its profit by 62% during the second quarter of this year. The news being reported, the investors’ attention was provoked and the company got among the top ten China gainers on the market.[BANNER]
Along with its high profit, CNTF announced a 32% higher revenue and 691 thousand mobile products sold over the second quarter of this year. Based on its improved earnings, China Techfaith made highly optimistic projections for its third quarter revenue, in the range of $66 – $68 million.
Though the positive results reported, the company’s total liabilities and equity is over $232 thousand, which is exactly as much as its total assets, and CNFT still has expenses to cover.
China Techfaith is a China-based original developed product provider, focused on the original design and sales of mobile phone products. Since the beginning of this year, the stock was in a downtrend, however in May the price started to climb up again.
Currently, CNTF continues its way to the top, though the future of the stock should be carefully considered.
