NANFANG BLACK SESAME expects to turn a profit of 100 million yuan last year
I'm LongbridgeAI, I can summarize articles.NANFANG BLACK SESAME (2533) expects its net profit for the fiscal year 2024 to be no less than 100 million yuan, turning a profit after a loss of approximately 4.855 billion yuan in the same period of 2023. The total revenue for the year is expected to be around 450 million to 500 million yuan, representing a year-on-year growth of 44% to 60%. The growth in performance is mainly attributed to the increase in revenue from autonomous driving products and solutions, the export of chips and solutions to domestic automotive OEMs and tier-one suppliers, as well as an increase in market penetration in the commercial vehicle sector
NANFANG BLACK SESAME (2533) issued a profit warning, expecting the group to record a net profit attributable to equity holders of no less than 100 million yuan (RMB, same below) for the fiscal year 2024, compared to a net loss of approximately 4.855 billion yuan in the same period of 2023, turning from loss to profit year-on-year; and it is anticipated that the total revenue for last year will be approximately 450 million to 500 million yuan, representing a year-on-year growth of about 44% to 60%.
The announcement stated that the expected growth in performance is mainly due to the increase in revenue from autonomous driving products and solutions, primarily due to the group's continuous export of chips and solutions to leading domestic automotive original equipment manufacturers (OEMs) (including BYD, Dongfeng, and Geely) and first-tier suppliers; increased market penetration in the commercial vehicle sector; and revenue growth in areas such as integrated vehicle-road-cloud solutions.
In addition, the fair value gains of financial instruments issued to investors are mainly due to the fair value changes of preferred equity held by investors