Xinwangwei is affected by the downward cycle of the semiconductor industry

As the semiconductor industry has been in a downward cycle since the second half of 2022, and the downstream electronics industry as a whole is in a destocking stage, in the first half of 2023, Xinwangwei's revenue fell 23.57% year-on-year, among which the sales revenue of automotive-grade MCUs also declined compared with the same period last year.