Desay SV(SZ:002920)2025-08-15 10:28Financial Performance - In the first half of 2025, the company achieved a revenue of CNY 14.644 billion, representing a year-on-year growth of 25.25% [7] - The net profit attributable to shareholders was CNY 1.223 billion, with a year-on-year increase of 45.82% [7] - New project orders are expected to generate an annualized sales revenue exceeding CNY 18 billion [7] Global Expansion - The company has established strategic branches in key countries including Germany, France, Spain, Japan, and Singapore [8] - Production capacity in Indonesia began contributing in May 2025, enhancing supply chain resilience in Southeast Asia [8] - The Monterrey plant in Mexico started its first mass production project in June 2025, aimed at providing localized services for the Americas [8] - A smart factory in Spain is projected to commence production in 2026, focusing on advanced intelligent cockpit and driver assistance products for Europe [8] Business Segments Advanced Driver Assistance Systems (ADAS) - The intelligent driving business generated revenue of CNY 4.147 billion, reflecting a year-on-year growth of 55.49% [9] - The company maintains the largest market share in the domestic ADAS domain, with a diverse product matrix catering to various market needs [9] - New project orders have been secured from major automotive manufacturers including Great Wall Motors and Geely [9][10] Intelligent Cockpit - Revenue from the intelligent cockpit business reached CNY 9.459 billion, marking an 18.76% year-on-year increase [11] - The fourth-generation intelligent cockpit has been mass-produced for clients such as Ideal Auto and Xiaomi Auto [11] - The company is launching a fifth-generation intelligent cockpit platform aimed at redefining performance standards in the AI era [11] Competitive Advantages - The company is investing in an intelligent computing center to support AI technology development and advanced algorithm research [12] - It is strategically positioned to capitalize on the transition from high-speed NOA to full-scene vehicle-to-vehicle (D2D) technology by 2025 [12][13] - The integration of AI technology and existing automotive electronic capabilities enables rapid entry into new business areas, including smart transportation and robotics [13]