Desay SV forecasts boost in Q3 profit
Beijing (Gasgoo)- China's leading automotive electronics company, Desay SV, projected a lucrative first three quarters of this year, thanks to the steady growth in its three major product lineups.
Photo credit: Desay SV
According to the company's performance forecast, net profit attributable to shareholders for the period should amount to RMB480 million-RMB495 million ($74.58 million-$76.91 million) year-to-date, soaring 50.79%-55.50% from a year ago. In the third quarter alone, a net profit of RMB110 million-RMB125 million ($17.1 million-$19.42 million) was estimated, indicating a 23.94%-40.84% increase year on year.
Desay SV stated that the company's smart cabin, intelligent driving, and vehicle connectivity product lines are steadfastly progressing. With new projects established and new products mass-produced, the company will be seeing a rise in revenue versus the same period in the previous year. In the meantime, as Desay SV continued to refine its business model and improve efficiency, year-to-date net profit is also expected to increase year on year.
The rapid transformation of the auto industry inspired Desay SV to layout in advance. The company embarked on developing comprehensive intelligent connective products and has begun to show its advantages.
The company's intelligent driving products were ordered by China's major auto players, including NIO, Li Auto and XPeng, FAW Hongqi, Geely, Chery Auto, and the passenger vehicle sector of GAC Group.
Automakers such as Toyota Motor, Great Wall Motor, and BYD are customers of the company's smart cabin domain controller, large-screen on-board products, and digitalized dashboards.
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