Yihuatong (02402) surged nearly 7% in the afternoon. The increase has now narrowed to a rise of 3.83% to HK$33.85, with a turnover of HK$6.97.311 million.
Changjiang Securities pointed out that the company's products are still in a period of rapid iteration, with declining unit prices dragging down revenue growth; gross margin fell 5.87 pct. With the release of scale effects, the company's gross margin has room to be repaired; R&D cost increases and depreciation are still dragging down profits; the company's cash flow is expected to improve in 2024 with the release of the first year of the model urban agglomeration; it is expected that fuel cell vehicle promotion will continue to accelerate.