iMotion Automotive Gross Margin Target for 2024 May be Hard to Achieve -- Market Talk

Dow Jones08-20

Deutsche Bank has a hold rating on iMotion Automotive Technology's stock. "iMotion Automotive Gross Margin Target for 2024 May be Hard to Achieve -- Market Talk," at 0714 GMT on Aug. 20, incorrectly said Deutsche Bank has a buy rating on the stock.

(END) Dow Jones Newswires

August 20, 2024 23:15 ET (03:15 GMT)

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The autonomous driving solution provider reported weaker-than-expected earnings in 1H, which was largely due to lower-than-expected gross margin, Wang says. The gross margin fell 0.5 percentage points to 7.1% in 1H on lower margin for its autonomous driving-related research & development sector and weaker sales of its assembled printed circuit board products. Gross margin for its core business--autonomous driving solutions and products--was also flat at 7.0% on year in 1H, he adds. 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