Gasgoo Munich- NOVOSENSE released its 2024 semi-annual report, according to Gasgoo. Revenue surged 66.73% year-on-year to 2.54 billion yuan. The company swung to a net profit of 68 million yuan, reversing a loss of 78 million yuan a year earlier. Excluding non-recurring items, net loss narrowed to 48 million yuan from 106 million yuan.
Image source: NOVOSENSE
Quarterly figures show revenue stood at 1.141 billion yuan in Q1 with a net loss of 36 million yuan. Momentum shifted in Q2, with revenue climbing to 1.399 billion yuan. Net profit turned positive at 103 million yuan, and non-recurring net profit reached 7 million yuan.
By product line, sensor revenue jumped 55.63% to 643 million yuan. Signal chain products surged 72.64% to 1.011 billion yuan, while power management products climbed 69.28% to 879 million yuan.
In terms of downstream markets, "Pan-Energy"—encompassing photovoltaic storage, digital power, and industrial automation—remained the top revenue driver at 57.96%. Automotive electronics and consumer electronics followed with 32.38% and 9.65%, respectively. All three sectors posted annual growth, led by Pan-Energy’s 84% surge; automotive and consumer electronics grew 59% and 20%. Notably, automotive shipments hit 534 million units in the first half, bringing cumulative shipments to 1.952 billion units.
On the R&D front, investment rose 23.54% year-on-year to 446 million yuan. This represented 17.57% of revenue—down from 23.71% a year earlier—as economies of scale began to take hold.
On the new product front, eddy current absolute encoder chips and low-power pressure sensors entered mass production, while new-generation digital isolators saw significant shipment volumes. The company rolled out its first automotive audio interface bus chip and M7-core real-time control MCU, with development on automotive SerDes interface chips advancing smoothly. SiC isolated drivers are now shipping in volume for automotive on-board chargers, charging piles, and photovoltaic systems. Additionally, second-generation functional safety drivers, multi-channel pre-drivers, and Class-D audio amplifiers have secured customer design wins, while System Basis Chips (SBC) and PMICs have completed validation with leading domestic and international clients.
