| RESEARCH 25 Mar, 2024 Intron | 01760.HK COMPANY UPDATE Cautious outlook in operation H F NGO, Brian, CFA STOCK RATING TARGET PRICE SENIOR ANALYST BUY HK$ 2.85 brianngo@westbullsec.com.hk Intron (01760.HK) reported a YoY 20.1% increase in revenue to RMB 5,802.3mn in FY 2023, +852 3896 2965 and the GM plunged by 2.9p.p. to 18.7%, lower than our estimates. An abnormally low GM 2701 – 2703, 27/F, Infinitus Plaza, 199 Des Voeux Rd and booming R&D expense brought the Group a YoY 23.0% retreat in the bottom-line ...