Desay SV’s annual revenue exceeds 20 billion yuan in 2023, up 46.71% YoY

Beijing (Gasgoo)- On March 27, Chinese smart mobility solution developer Desay SV disclosed its annual financial results for 2023, revealing annual revenue surpassing 20 billion yuan. 

Photo credit: Desay SV

In the past year, Desay SV’s annual revenue reached 21.908 billion yuan, marking a year-on-year surge of 46.71%. It reported a net profit attributable to shareholders of 1.547 billion yuan, jumping 30.57% from the previous year. Additionally, Desay SV secured new project orders with an annualized sales volume exceeding 24.5 billion yuan.

The report highlights Desay SV's impressive operational performance in 2023, driven by the rapid penetration of high-end intelligent cockpits and advanced intelligent driving products. 

The company's intelligent cockpit business maintained rapid growth throughout the year, with both annual revenue and new project order annualized sales exceeding 15 billion yuan. Meanwhile, its intelligent driving business achieved a significant leap of 74.43% year-on-year in yearly revenue, reaching 4.485 billion yuan. 

The widespread application of intelligent driving, particularly the rapid commercialization of high-end functions such as urban NOA (Navigation on Autopilot), presents lucrative growth opportunities, ensuring the sustained high-speed growth of Desay SV's intelligent driving business.

Desay SV's R&D investment amounted to 2.029 billion yuan in 2023, accounting for 9.26% of its sales revenue, with R&D personnel comprising 45.26% of the total workforce. Desay SV continued to advance its R&D system construction, focusing on platform, digitalization, standardization, as well as interdisciplinary and cross-regional collaboration, thereby further enhancing its R&D efficiency.