Desay SV logs 29.62% YoY jump in 2024 annual revenue

Beijing (Gasgoo)- Chinese automotive intelligent technology company Desay SV released its 2024 annual report on March 15, revealing a total revenue of 27.618 billion yuan, representing a year-on-year jump of 26.06%.

The company's net profit attributable to shareholders reached 2.005 billion yuan in the period, up 29.62% from the previous year, while its net profit excluding non-recurring gains and losses rose 32.66% from the year-ago period to 1.946 billion yuan.  

In 2024, Desay SV invested 2.192 billion yuan in R&D, which accounted for 7.94% of its annual sales revenue. R&D personnel made up 45.98% of its total workforce.  

Desay SV's intelligent cockpit business continued rapid growth in 2024, driven by product diversification, market expansion strategies, and new customer orders. The company achieved annual revenue of 18.23 billion yuan in the sector. Meanwhile, its intelligent driving segment also maintained strong momentum, with revenue surging 63.06% year on year to 7.314 billion yuan.

Global expansion was crucial for Desay SV in 2024, with significant progress in global business development and operational capabilities. The company has so far secured new project orders from major global automakers, including Tata Motors, Volkswagen, Mazda, Stellantis, and Toyota. Notably, it successfully entered Honda's supply chain. According to Desay SV, its overseas orders exceeded 5 billion yuan in 2024, marking a year-on-year soar of over 120%.

Desay SV has also deepened its localized operations across Europe, Japan, and Southeast Asia. Its smart factory in Spain is under construction and is expected to be completed by the end of 2025, with production starting in 2026.