Desay SV, a leading Chinese automotive intelligent technology company, has recently released its 2024 annual report, showcasing impressive growth in revenue and profitability. The company reported a total revenue of 27.618 billion yuan, marking a substantial year-on-year increase of 26.06%. In addition, Desay SV’s net profit attributable to shareholders reached 2.005 billion yuan, representing a significant 29.62% increase from the previous year.
One of the key drivers of Desay SV’s success in 2024 was its commitment to research and development. The company invested 2.192 billion yuan in R&D, accounting for 7.94% of its annual sales revenue. With nearly half of its total workforce dedicated to R&D efforts, Desay SV continues to innovate and develop cutting-edge technologies for the automotive industry.
Desay SV’s intelligent cockpit business experienced robust growth in 2024, fueled by product diversification, market expansion strategies, and new customer orders. The company achieved an impressive annual revenue of 18.23 billion yuan in this sector. Furthermore, its intelligent driving segment also saw strong momentum, with revenue surging by 63.06% year on year to 7.314 billion yuan.
Global expansion was a key focus for Desay SV in 2024, with significant progress made in global business development and operational capabilities. The company secured new project orders from major global automakers such as Tata Motors, Volkswagen, Mazda, Stellantis, and Toyota. Notably, Desay SV successfully entered Honda’s supply chain. Overseas orders exceeded 5 billion yuan in 2024, representing a remarkable year-on-year increase of over 120%.
Desay SV has also made strides in deepening its localized operations across Europe, Japan, and Southeast Asia. The company’s smart factory in Spain is currently under construction and is expected to be completed by the end of 2025, with production set to begin in 2026.
Overall, Desay SV’s strong financial performance, focus on innovation, and commitment to global expansion position the company as a key player in the automotive intelligent technology sector. With a solid foundation for growth and continued investment in R&D, Desay SV is well-equipped to meet the evolving needs of the automotive industry and drive future success.
