Shares in AAC Technologies Holdings, a maker of miniature electronics products for smartphones, tablets and other devices that is a supplier to Apple, jumped 8.2% at the Hong Kong Stock Exchange today after the company yesterday posted a 70% rise in 2012 net profit to 1.8 billion yuan, or $284 million. Sales rose 55% to 6.3 billion yuan.
AAC's shares had already closed up by 3.7% yesterday after it announced those 2012 results. They have gained approximately two-thirds in the past year, and a trading at a Bloomberg-projected 16 times earnings.
AAC said it expects future growth to come from smartphones and tablets, and was working try to expand its product line. AAC has traditionally focused on acoustics products.
CEO Benjamin Pan ranked No. 641 on the 2013 Forbes Billionaires List with wealth of $2.3 billion.
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