HG Semiconductor Limited provided group earnings guidance for the year ended December 31, 2021. The board of directors of the Company informed the shareholders of the Company and potential investors that, based on a preliminary review of the Group's latest unaudited consolidated management accounts for the year ended 31 December 2021, and the information currently available to the Board, the Group expects to record a loss of approximately RMB 447 million for the Year, as compared to a net profit of approximately RMB 4.6 million for the year ended 31 December 2020.
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