According to the Zhitong Finance App, Yingheng Technology (01760) announced its annual results for the year ended December 31, 2023. The group achieved revenue of 5.802 billion yuan (RMB, same below) during the period, an increase of 20.13%; profit attributable to shareholders of 317 million yuan, a year-on-year decrease of 23.51%; basic profit per share of 29.19 points; and proposed to pay a final dividend of HK$0.098 per share.

According to the announcement, the year-on-year increase in revenue was mainly driven by growth in the NEV, smart driving connectivity and safety systems sectors. Among them, NEV revenue increased by more than 35% during the period, which is basically in line with market performance. The NEV segment increased its share of the company's revenue from 42.8% to 48%. Revenue from the Body Systems, Safety Systems and Power Systems segments achieved steady growth of 8%, 33% and 3%, respectively, accounting for 16%, 15% and 8% of total revenue, respectively. Revenue from the smart driving connectivity business increased sharply by 59%, accounting for 7% of total revenue. The revenue of the cloud server sector, which was affected by adjustments in market demand, fell 52% year-on-year, accounting for only 4% of the group's revenue, which is about the 20% increase in service revenue over the year.