英恒科技：1H24 below on weaker margin; Lower estimates on near-term industry headwinds

29 Aug 2024 Earnings Summary CMB International Global Markets | Equity Research | Company Update Intron Tech (1760 HK) 1H24 below on weaker margin; Lower estimates on near-term industry headwinds Intron Tech reported 1H24 revenue of RMB 2.84bn (+8% YoY) and net profit of RMB 97.7mn (-37% YoY), both below our/consensus estimates, mainly due to the GPM decline to 15.9% (-4.7ppts YoY) on intensified competition and price pressure from auto OEM customers. Looking ahead to 2H24E, mgmt. guided net profit margin t ...