Desay SV’s revenue jumps 34.02% YoY in H1 2024

Beijing (Gasgoo)- Desay SV recently released its financial report for the first half of 2024 (H1 2024), showing robust growth. During which, the company achieved a revenue of 11.692 billion yuan, indicating a 34.02% jump year-on-year, and a net profit of 838 million yuan, up 38.11% from a year ago.

Photo credit: Desay SV

Desay SV's core businesses include intelligent cockpits, smart driving, and intelligent connectivity services. In the first half of the year, revenue generated by the intelligent cockpit sector reached 7.965 billion yuan, growing 27.43% year on year. Smart driving business revenue stood at 2.667 billion yuan, zooming up 45.05% from that of the previous year. Revenues intelligent connectivity services and other businesses totaled 1.06 billion yuan, marking a 66.9% year-on-year spike. The intelligent cockpit segment remains the primary revenue source for Desay SV, contributing 68.12% of the total earnings in H1.

During this period, Desay SV's third-generation intelligent cockpit domain controllers went into mass production and are deployed onto vehicles under such brands like Li Auto, Chery, and GAC Motor, with new project orders from Chery, Geely, and GAC Toyota. The fourth-generation controllers also entered mass production for Li Auto and secured multiple new project orders. Differentiated cockpit solutions have gained more projects as well.

In the meantime, Desay SV has expanded its international market presence as well, with infotainment, display systems, and LCD instruments securing new projects in Europe, Japan, and Southeast Asia. In the first half of 2024, the company’s overseas business sales reached 759 million yuan, representing a 12.27% increase from the year-ago period.