Intron Technology - Stock Analyst Research

Target Price*HKD 4.15
Recommendation ACCUMULATE
Market Cap*3.68B
Publication Date8 Sep 2023

*At the time of publication

英恒科技 (1760 HK) 國內汽車電子解決方案提供商,順應汽車新四化快速成長

投資概要
英恒科技是中國一家快速發展的汽車電子解決方案提供商,業務涉及新能源汽車、車
身控制、安全及動力傳動系統,以及智駕網聯和雲服務器系統的解決方案,技術水平
及市場地位在國內供應商中具備一定優勢。受益於國內整體新能源車市場的迅速增
長,公司 2022 年總收入同比大幅上升 52%,至 48 億元(人民幣,下同),淨利潤同比大
幅增長 105%至 4.1 億元,淨利率由 2021 年的 6.3%提升至 8.5%。未來受益於新能源業
務和智駕網聯業務加速放量,預計未來 2 年內,公司的業績將繼續保持高速增長。
公司簡介:
英恒科技是中國一家快速發展的汽車電子解決方案提供商,主營業務涉及新能源汽
車、車身控制、安全及動力傳動系統的關鍵汽車電子部件。公司成立於 2001 年,2018
年於港交所 IPO 上市,2021 年完成增發。基於對市場前景的把握,公司策略性地跟隨
汽車行業趨勢建立解決方案組合,2009 年起,公司業務重心從汽車電子傳統應用領域
(車身控制、安全及動力傳動)擴展至新能源汽車相關業務,2015 年又進軍智能汽車
等新興應用領域。

About the author

Zhang Jing

Phillip Securities (HK)

Bachelor Degree in Tongji University of Engineering; Master Degree in East China Normal University of finance. Currently covering the automobile and air sectors. She has years of experience in investment research and is good at combining analysis for the companies with industry prospects.

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