Desay SV expects 2021 net profit to grow over 54% YoY thanks to automotive intelligence business

Beijing (Gasgoo)- China's well-known auto parts supplier, Desay SV, concluded a rather lucrative year, according to the company's 2021 annual performance projection released on January 10th.

Photo credit: Desay SV

The projection showed the estimated net profit attributable to shareholders should amount to RMB800-850 million ($125.55-133.4 million), representing a 54.4%-64.05% surge from the previous year's RMB518.15 million ($91.26 million).

The net profit after non-recurring deductions should be around RMB785-835 million ($123.2-131.05 million), soaring a remarkable 69.88%-80.7% year on year. The company's net profit after deductions was RMB462.09 million ($72.52 million) in 2020.

Desay SV said that the company's business was severely challenged by the supply crunch and price increase of chips and raw materials. In order to guarantee customer service and delivery, the company has been improving its R&D and supply chain management capabilities.

In the meantime, Desay SV has been continuously laying out in the ongoing intellectualization. Actually, the estimated revenue boost in its 2021 annual performance should be credited to the company’s growing performance in the automotive intelligence field, namely the intelligent cockpit, intelligent driving, and network services.  

Desay SV has launched multiple projects in the area, along with various products starting mass-production.