Joyson Electronics’ 2023 annual revenue up 11.76% YoY

Beijing (Gasgoo)- Leading Chinese electronic components manufacturer Joyson Electronics on March 12 announced its preliminary financial results for the full year of 2023, demonstrating a significant improvement in profitability and a strong order intake. 

Photo credit: Joyson Electronics

The company achieved a total revenue of 55.65 billion yuan last year, representing a year-on-year growth of 11.76%. Its net profit attributable to the parent company reached 1.089 billion yuan, showing a remarkable soar of 176.16% compared to the previous year. After deducting non-recurring gains and losses, Joyson Electronics’ net profit attributable to the parent company amounted to 989 million yuan, skyrocketing 214.75% from a year ago.

In 2023, Joyson Electronics’ orders from new businesses continued to expand, accumulating approximately 73.7 billion yuan in global lifecycle orders throughout the year.

The company attributed the significant year-on-year growth in various performance indicators, including operating profit, to the steady increase in revenue and the gradual realization of economies of scale. Additionally, the cost reduction and efficiency improvement measures implemented in recent years have achieved positive results, further enhancing the profitability of the company’s core businesses.

Joyson Electronics experienced a continuous increase in both domestic and international customer orders, demonstrating a healthy growth trend across its various business segments. The company's global cost improvement initiatives have led to a noticeable improvement in gross margin and an enhanced product competitiveness.

The financial report also revealed that as of the end of the reporting period, the company's total assets amounted to 56.787 billion yuan, representing a 4.94% rise compared to the beginning of the year. The equity attributable to shareholders of the listed company reached 13.596 billion yuan, showing a growth of 10.96% since the beginning of the year.