March 28th News: Geely Group released its 2023 annual report. Against the backdrop of insufficient demand in the consumer electronics industry, Geely's revenue remained stable, with a total revenue of 98.574 billion yuan for the year and a net profit of 1.088 billion yuan. Compared to the first quarter, the gross profit margin continued to improve in the fourth quarter. Meanwhile, the total expenses throughout the year were about 7.8 billion yuan, a decrease of 5.11% year-on-year.
Geely Group has innovative competitive advantages in the fields of acoustics, optics, microelectronics, and precision manufacturing. It possesses rich proprietary intellectual property in the field of precision components and has accumulated extensive product project experience in the smart acoustics and smart hardware sectors through cooperation with leading industry customers using models such as "ODM" and "JDM". During the reporting period, the company maintained long-term and good cooperative relationships with leading customers in the global technology and consumer electronics industries. Its product solutions and service capabilities were recognized by customers, and it continued to occupy a leading market position in fields such as microspeakers, MEMS acoustic sensors, VR (including MR) products, TWS smart wireless headphones, smart wearable products, smart home electronic gaming consoles, and accessory products.
In the fourth quarter of 2023, the company completed the acquisition of 100% equity of Yuguang Technology (Shaoxing) Co., Ltd., further strengthening its layout in the fields of micro-nano optical devices, projection/display modules, and 3D sensing. This acquisition effectively enhances the company's comprehensive competitiveness in the field of precision optics and supports the long-term development of its optical business.
报告显示，歌尔股份有多个AR/VR相关项目正在进行：
The development of emerging smart hardware products, along with the growing demand for related precision optical components and modules, precision acoustic components, MEMS sensors and microsystem modules, haptic devices, precision structural components, and other products, will bring new opportunities for the company's emerging smart hardware business and precision components business. Faced with the opportunities of this post-mobile era, the company will actively respond by leveraging its existing strengths, continuously consolidating its core competitiveness, expanding its existing business areas, and actively exploring new product business directions to achieve sustained and healthy development.
During the reporting period, the company adhered to the product strategy of "precision components + smart hardware devices," upheld a customer-centric approach, and implemented a strategy focused on key clients. Leveraging the synergies between its component and device businesses, the company successfully expanded its operations, delivered projects, and improved its operations. The management team reinforced its crisis management awareness and actively conducted various initiatives to enhance customer orientation and service capabilities, achieving positive results in these areas. Continuous efforts were made to drive organizational changes and improve operational management, resulting in efficient internal decision-making processes and enhanced operational capabilities, laying a solid foundation for the company's long-term development. The company continued to invest in independent research and development and technological innovation, leading to a continued increase in the number of patent applications and grants. The strength of its R&D and talent pool was further strengthened, consolidating the company's core competitiveness.
During the reporting period, the company experienced a certain degree of decline in overall revenue and profitability due to various factors, including the overall shortage of demand in the consumer electronics industry, a decrease in shipments of smart hardware products such as VR devices, and changes in the company's business structure. However, the company's core competitiveness and industry position remain solid. The short-term pressure on performance will not undermine the company's stable development foundation, nor will it change the long-term trend of the company's healthy growth.
In the future, Goer will continue to adhere to the product strategy of "precision components + smart hardware devices," leveraging the synergies between the company's component and device businesses. It will seize the development opportunities presented by emerging smart hardware products in the post-mobile era.Building upon the existing competitive advantages in precision components and smart hardware products, Goer aims to further expand into new business directions and opportunities. It will actively seize new product opportunities in areas such as precision optical components and modules, sensors, microsystem modules, VR, MR, AR, smart wearables, and others. The company will also focus on acquiring key projects from core customers while continuing to actively monitor and pursue new business opportunities in fields like automotive electronics and microdisplays.
The original article was first published on the WeChat official account (Aibang VR Industry News)：Geely's 2023 annual report has been released, indicating that several AR/VR-related projects are underway
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