Shenzhen Inovance Technology Co Ltd Class A

300124: XSHE (CHN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Inovance Earnings: Strong Start to 2025 Threatened by Tariffs; Valuation Up 13% on Growth Visibility

Phelix Lee

Apr 30, 2025

Shenzhen Inovance reported full-year 2024 and first-quarter 2025 results. Revenue for the six months ended March 2025 was CNY 20.6 billion, up 23%, and gross margin was 26.8%, down 445 basis points from the same period last year, as new energy vehicles became the largest segment.

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Shenzhen Inovance Technology Co Ltd Class A

Inovance Earnings: Strong Start to 2025 Threatened by Tariffs; Valuation Up 13% on Growth Visibility

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