Summary by Futu AI
Yingheng Technology Holdings Limited (“Ying Hang Technology”) announced its annual results for the year ended 31 December 2023 with total revenues of RMB5,802.3 million, an increase of 20% over the same period last year. Revenue from the New Energy Automotive business grew by 35%, becoming the main driver of revenue growth. Gross profit decreased 2.8 percentage points to 18.7% and net profit decreased 24% to RMB312.5 million. Basic earnings per share were RMB29.19 cents and a final dividend of HK$9.8 per share is recommended. The company continues to grow rapidly in the new energy vehicle market and strengthen its technological advantage and market leadership through increased R&D investment. In the future, Yingheng Technology will continue to focus on electrification and intelligence to meet the needs of the entire vehicle factory, continuously improve its industry service platform, and empower domestic semiconductor design and implementation.