Yingheng Technology's performance fluctuates and it faces intensified market competition

Recently, Intron Technology announced its 2023 annual financial report, which showed that the company achieved operating income of 5.802 billion yuan, a year-on-year increase of 20.12%, but the growth rate fell by 50% compared with the same period last year; gross profit was 1.084 billion yuan, a slight increase of 4.13% year-on-year. In terms of net profit, Intron Technology saw a year-on-year decline of 23.84% in 2023, ending a high growth cycle for several consecutive years. The company's business gross profit margin continued to decline from 26.18% in 2005 to 18.68%; the net profit margin fell from 12% to 5.39%. This change is mainly due to the fact that China's new energy vehicle market has begun to enter a low growth cycle, market competition has intensified, and the supply of domestic automotive-grade chips has increased, especially MCUs, IGBTs and other products that compete with Infineon, and the localization rate has gradually increased.