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Industry

Telechips posts Q2 operating profit of 3.18 billion won, third straight quarter in the black

Telechips said on Wednesday it posted second-quarter revenue of 59.2 billion won and operating profit of 3.18 billion won. Revenue rose 33.6 percent from a year earlier, and operating profit swung to black from a year-ago loss. The operating margin improved to 5.4 percent. Net loss widened to 4.1 billion won, reversing from a first-quarter profit. The results are preliminary consolidated figures.

Crypto

Circle to launch Arc mainnet on Sept. 16 with 11 founding validators including Visa and BlackRock

Circle will open the public mainnet of its own blockchain, Arc, on Sept. 16. It named 11 institutions including Visa, Mastercard and BlackRock as founding validators. Circle said more than 100 developers are involved under a private mainnet, and the testnet processed over 500 million transactions across about 3 million wallets. It also reported second-quarter revenue of $701 million and net income of $48 million.

Industry

Lotte Energy Materials\' Q2 revenue rebounds but losses widen

Lotte Energy Materials reported mixed second-quarter results as revenue rebounded but losses deepened. The company posted revenue of 194.2 billion won and an operating loss of 16.9 billion won. Revenue rose 21.5 percent from the previous quarter, while the operating loss widened and net profit swung to a loss. Demand for high-output small batteries lifted sales, but growth was not enough to reverse losses. Compared with a year earlier, losses narrowed.