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2021-08-17

Something must be wrong somewhere

NanoFilm shares fell 28.8% on resignation of COO, disappointing earnings report

SINGAPORE - Investors dumped shares of NanoFilm Technologies on Monday (Aug 16), unnerved by the res

NanoFilm shares fell 28.8% on resignation of COO, disappointing earnings report

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This was supported by the advanced materials and industrial equipment units.\nHowever, net profit after tax was 2.3 per cent lower, at $18.1 million, compared with the same period last year due to expenses incurred at its new plant in Shanghai.\nThe company racked up expenses on its new product introduction projects, which have yet to contribute materially to revenue.\nThe board declared an interim dividend of one cent per ordinary share for the financial year ended Dec 31, which will be paid on Sept 8.\nNanoFilm sees better growth for its advanced materials business from customers such as makers of smartphones, vehicles and optical lenses as well as companies involved in precision engineering and printing and imaging.\nIt also expects to enter new sectors such as medical devices and optics.\nLast month, NanoFilm shares hit an all-time high of $6.53, a week after the company announced a joint venture with Temasek to develop hydrogen energy solutions.","news_type":1},"isVote":1,"tweetType":1,"viewCount":350,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":29,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}