Revenue Trends - The revenue of China's inductor industry is expected to show a steady growth trend from 2019 to 2024, with a significant increase in 2021, indicating relative industry prosperity in recent years. The growth rate of the industry increased year by year from 2019 to 2021, but stabilized starting in 2022 [1] Profitability Analysis - The sales gross margin of China's inductor industry exhibited a trend of first increasing and then decreasing from 2019 to 2024. The gross margin increased from 2019 to 2021 due to high product demand and strong bargaining power of industry enterprises. However, starting in 2022, the overall market returned to rationality, leading to a gradual decline in sales gross margin [2] Inventory Turnover - The inventory turnover rate in China's inductor industry showed fluctuations from 2019 to 2024. In 2019, the turnover rate was 5.13 times, affected by weak demand from major downstream terminals like mobile phones and automobiles. The rate peaked at 5.63 times in 2020 due to increased demand for inductors driven by the pandemic. However, it dropped sharply to 4.44 times in 2021 due to a temporary imbalance between supply and demand. From 2022 to 2024, the turnover rate gradually increased from 4.58 times to 4.93 times, reflecting steady recovery in demand driven by emerging fields such as 5G, new energy vehicles, and the Internet of Things [4] Accounts Receivable Turnover - The accounts receivable turnover rate in China's inductor industry showed a trend of first increasing and then decreasing, fluctuating between 3 and 4. Overall, the industry has a relatively low accounts receivable turnover rate, indicating longer collection periods. This is primarily due to the strong bargaining power of large electronic equipment manufacturers, which often require longer payment terms to optimize their cash flow [7] Debt Ratio - The asset-liability ratio of China's inductor industry showed an overall increasing trend from 2019 to 2024, rising from 35.2% to 44.2%. The ratio remains below 50%, indicating a moderate reliance on debt. The increasing trend reflects enterprises' efforts to expand scale by increasing debt ratios, aligning with the industry's transition towards miniaturization and high power density. Major manufacturers are investing heavily in high-end production capacity, such as new integrated inductor projects and overseas production bases, leading to a record high in debt levels [9]