HONG KONG – Wong’s Kong King reported first half revenue of HK$2.5 billion (US$320.8 million), down 0.75% year-over-year.

For the six-month period ended June 30, the EMS firm’s profit before income tax was HK$43.6 million, a decrease of 11.5% compared to the same period in 2018. Operating profit was HK$55.7 million, down 0.37% year-over-year.

Decreases are attributed to the continuing US-China trade war. Given the orders on hand, the group’s OEM manufacturing division is anticipated to perform better than last year in the absence of unforeseeable circumstances. The company is in the process of relocating a small part of its manufacturing facilities to Mexico to avoid heavy tariffs imposed on products exported to the US from China.

Ed.: HK$1 = US$0.13

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