Chinese automotive parts supplier Foryou Corporation recently announced its financial results for the first half of 2024 (H1 2024), showing significant growth in both revenue and profit.
Main productsAutomotive Electronics Smart Cockpit Systems: Infotainment System, Digital Instrument Cluster, HD Screen, Dual-Screen Display, Curved Screen, Cockpit Domain Controller (CDC), Electronic Interior & Exterior Rearview Mirrors (CMS), Digital Acoustic System, Head-Up Display (HUD), Wireless Power Charger (WPC), Precision Kinematic Structure / Mechanism (PKS), Digital Access System / Digital Key (DAS) Autonomous Driving / ADAS: Autonomous Driving Domain Controller, Front-View All-in-One Integrated Camera Unit, Parking Assist System, 360-Degree Surround View System, 5G-V2X Control Box, High-Precision Positioning Unit Cross-Domain Integration: Integrated Cockpit-Parking Domain Controller, Integrated Cockpit-Driving Domain Controller, Central Computing Unit (CCU) Precision Die-Castings NEV Powertrain Systems: Motor Housing, Inverter Housing, Battery Pack Structural Components Smart Cockpit & ADAS: LiDAR Structural Components, Center Console Screen Bracket, HUD Components, Domain Controller Housing Powertrain: Engine Components, Transmission Valve Body Steering System: Steering Column / Steering Column Bracket, Power Steering System Bracket, Steering Knuckle Mounting Bracket Braking System: Master Cylinder / Slave Cylinder Housing, Hydraulic Modulator Valve Block & Body, Electronic Parking Brake (EPB) Actuator Housing Manumatic Transmission: Transmission Valve Body / Valve Cover, Hydraulic Control Module Housing, Transmission Oil Passage Cover Plate
Main productsNew Energy Vehicles Module Products: DC Fast Charging Modules, Energy Storage and Charging Modules, On-board Power Modules Monitoring Products: Charging Control Modules, Charging Cloud Platform System Products: Standard DC EV Chargers, Split-type Charging Systems, Fully Liquid-cooled Supercharging Systems, AC EV Chargers, V2G EV Chargers
Beijing (Gasgoo)- Chinese automotive parts supplier Foryou Corporation recently announced its financial results for the first half of 2024 (H1 2024), showing significant growth in both revenue and profit.
Photo credit:
Foryou Corporation
The company reported an operating revenue of 4.193 billion yuan in H1, marking a 46.23% spike year-on-year. In the period, Foryou Corporation’s net profit attributable to shareholders reached 287 million yuan, which zoomed up 57.89% from the same period last year. Meanwhile, the company’s adjusted net profit leapt 64.43% year on year to 277 million yuan.
During the first half of this year, Foryou Corporation poured in 373 million yuan in R&D, representing a 25.57% year-on-year increase, and accounting for 8.9% of its operating revenue.
The company's primary business sectors include automotive electronics and precision die-casting, which together contributed to 95.03% of its total revenue in H1 2024. Specifically, revenue generated by automotive electronics shot up 65.41% from the year-ago period to 3.071 billion yuan in the first six months of this year, while precision die-casting’s revenue increased by 23.55% year over year to 914 million yuan.
Foryou’s automotive electronics division focuses on smart cockpit, smart driving, and intelligent connectivity, supplying products and services to automakers. The financial data reflects consistent growth in this segment over the past several years.
Foryou Corporation anticipates continued high growth in the automotive electronics sector, driven by the increasing penetration of smart products and the growing share of automotive electronics in overall vehicle costs.
All Rights Reserved. Do not reproduce, copy and use the editorial content without permission. Contact us: autonews@gasgoo.com
