Desay SV posts 16.47% YoY jump in H1 2023 net profit

Beijing (Gasgoo)- Desay SV saw substantial growth in its financial performance in the first half of 2023 with a remarkable year-on-year surge of 36.16% in revenue, whcih reached 8.724 billion yuan.

Photo credit: Desay SV

Meanwhile the company’s net profit attributable to shareholders of the listed company rose by 16.47% from the previous year to 607 million yuan.

Desay SV’s core business divisions include smart cockpit, intelligent driving, and connected services. During the first half of this year, the smart cockpit segment achieved revenues of 6.251 billion yuan, marking an 18.57% jump compared to the previous year. The intelligent driving division experienced an 86.38% year-on-year soar in revenue, which came in at 1.839 billion yuan. Furthermore, the connected services and other businesses segment posted revenues of 635 million yuan, which shot up 325.34% from a year ago.

Notably, the smart cockpit segment continues to serve as Desay SV's primary revenue source, accounting for a substantial 71.65% of the total revenue for the first half of the year.

Desay SV's traditional product lines, including infotainment systems, display systems, and LCD instrument clusters, have all witnessed steady growth. The company's third-generation high-performance intelligent cockpit products have entered large-scale production and secured nominated orders with prominent clients such as Changan Ford, Geely, BYD, GAC Group, and HOZON Auto. The next-generation, even higher-performance fourth-generation intelligent cockpit system has also secured new project placements, said Desay SV.

In the interim report, Desay SV highlighted the successful integration of its high-computing power intelligent driving domain controllers in models from companies such as Li Auto, Lotus, and SAIC Motor. This development has led to a rapid revenue expansion, with multiple lightweight and cost-effective intelligent driving assistance solutions on the verge of mass production.