Xinwangwei's automotive-grade MCU sales revenue declined due to the semiconductor industry's downward cycle

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, the revenue of automotive-grade MCU supplier Xinwangwei in the first half of this year fell by 23.57% year-on-year, of which the sales revenue of automotive-grade MCUs also declined compared with the same period last year.