Huizhou Desay SV Automotive (002920) H2 2025 earnings summary

Executive summary

• Achieved revenue of ¥32.56 billion in 2025, up 17.88% year-over-year; net profit attributable to shareholders reached ¥2.45 billion, up 22.38% year-over-year.

• Maintained industry leadership in intelligent cockpit, intelligent driving, and connected services, with strong growth in both domestic and international markets.

• Expanded global footprint with 16 overseas branches and new manufacturing capacity in Spain and Mexico, supporting international customer growth.

• R&D investment reached ¥2.64 billion, 8.10% of revenue, with over 4,100 patents and 120+ technical standards led or participated in.

• Launched new AI-driven products, including the fifth-generation intelligent cockpit platform and L4-level unmanned vehicle solutions.

Financial highlights

• Revenue: ¥32.56 billion, up 17.88% year-over-year; net profit attributable to shareholders: ¥2.45 billion, up 22.38%.

• Operating cash flow: ¥2.88 billion, up 93.09% year-over-year.

• Basic EPS: ¥4.35, up 19.83% year-over-year; weighted average ROE: 21.67%.

• Total assets: ¥29.85 billion, up 38.92% year-over-year; net assets: ¥15.42 billion, up 59.88%.

• Gross margin: 19.07%, down 0.81 percentage points year-over-year.

Outlook and guidance

• Expects continued expansion in global markets, leveraging AI and intelligent vehicle technologies.

• Anticipates further growth in overseas revenue and market share as L3 autonomous driving policies are implemented globally.

• Focus on sustainable development, digital transformation, and strengthening supply chain resilience.