Cheersson Precision Metal Forming

May 5, 2023

(Yicai Global) May 5 -- Cheersson Precision Metal Forming’s shares jumped after the Chinese supplier of industrial precision parts and components said it had received orders from the Indian units of two world-renowned telecom equipment companies. Cheersson [SHE: 002976] closed 3.6 percent up at CNY25.69 (USD3.72) today, after its shares gained by as much as 8.6 percent in morning trading. The two orders, estimated to be worth CNY76.4 million (USD11.1 million) and CNY38.2 million, are for antenna filter units for fifth-generation mobile network base stations, Cheersson said late yesterday. The orders are expected to be fulfilled on June 20 and July 6 respectively, it added. AFUs are a core component for the radio frequency system of 5G base stations. They can simultaneously filter, receive, and transmit signals. Suzhou-based Cheerson did not name the buyers, citing non-disclosure clauses. The AFU orders from the globally well-known telecom gear firms shows that Cheersson has the ability to mass-produce such products, the company added, noting that the orders will positively impact the performance of its telecommunications business this year. Revenue from Cheersson’s telecoms equipment business is expected to continue growing rapidly this year with the acquisition of new clients and orders, according to its annual trading report released on April 29. Income from the business soared 84 percent to CNY83.4 million last year, accounting for about 7 percent of Cheersson’s entire revenue. Editor: Futura Costaglione