Motorcomm Electronic Technology (SH:688515)2024-07-22 07:34Group 1: Company Overview and Performance - Yutai Microelectronics Co., Ltd. is listed under stock code 688515 and abbreviated as Yutai Micro [1] - The company provided a brief overview of its 2023 annual and 2024 Q1 operational performance during the investor relations activity [2] Group 2: Market Trends and Sales Data - BYD's export sales in the first half of 2024 increased by nearly 155.6%, indicating a positive trend in the automotive sector [2] - In the first half of 2024, the domestic narrow passenger car wholesale sales reached 11.751 million units, a year-on-year increase of 6.1% [2] - The cumulative wholesale sales of new energy passenger vehicles in China for the first half of 2024 reached 4.62 million units, with a year-on-year growth of 30.3% [2] Group 3: Product Application and Opportunities - The company's automotive-grade products are currently applied in numerous clients, including BYD, with increasing opportunities as automotive intelligence and connectivity deepen [3] - The production and sales of new energy vehicles in June 2024 reached 1.003 million and 1.049 million units, respectively, with year-on-year growth of 28.1% and 30.1% [3] - The company has achieved mass production of automotive Ethernet PHY chips, which are now being applied in multiple new energy vehicles [3] Group 4: Financial Performance and Future Outlook - The company's revenue for Q2 2024 showed an upward trend both year-on-year and quarter-on-quarter, with sales revenue increasing for six consecutive quarters [3] - The company anticipates significant growth in overall revenue for 2024 compared to 2023, supported by a robust order backlog and the release of new products [3] Group 5: Technological Developments - L3 level autonomous driving systems can perform all dynamic driving tasks under designed operating conditions, with several manufacturers, including BYD, obtaining testing licenses for L3 level autonomous driving [3] - The commercialization of L3 level autonomous driving technology is supported by evolving policies and standards, with applications in various scenarios such as highway lane changes and automated parking [3]