Desay SV achieves 56.93% YoY surge in H1 2022 revenue

Beijing (Gasgoo)- China’s leading automotive electronics supplier Desay SV celebrated a substantial surge in its revenue and profit in the first half of 2022, the company announced on August 18th.

Photo credit: Desay SV

In the first six months of 2022, the company brought in 6.407 billion yuan ($941 million) in revenue, representing a 56.93% hike year on year. Despite the industry-wide challenges of the coronavirus, chip supply crunch, and raw material price increase, Desay SV’s net profit attributable to shareholders amounted to 521 million yuan ($76.5 million), jumping 40.96% over a year ago. 

Desay SV attributed the blooming numbers to the continuous growth in its intelligent driving and smart cockpit business operations. In the report period, the company’s smart cockpit, intelligent driving, and automotive connectivity service sectors realized a respective revenue of 5.244 billion yuan ($770 million), 863 million yuan ($127 million), and 300 million yuan ($44 million), surging 57.11%, 51.17%, and 72.47% year over year.

Moreover, the gross profit margin of its intelligent driving business reached 23.16% in the Jan.-Jun. period.