Comparison of gross profit margins of the three major domestic smart hardware ODM manufacturers in 2023

In 2023, the gross profit margins of the ODM businesses of Huaqin Technology, Longcheer Technology and Wingtech Technology were 10.8%, 8.45% and 8.23% respectively. Among them, the gross profit margins of Huaqin Technology and Longcheer Technology increased by 1.22 percentage points and 1.09 percentage points respectively, while the gross profit margin of Wingtech Technology decreased by 0.37 percentage points.