March 21st News: Changying Precision released its 2023 annual report. In 2023, Changying Precision achieved a total operating income of 13.722 billion yuan for the full year, with a net profit attributable to shareholders of the listed company of 85.7028 million yuan. During the reporting period, Changying Precision continued to focus on its two main businesses: precision components for consumer electronics and precision components for new energy products. Despite facing pressure from weak demand in the first half of the year, the company closely followed industry trends and customer needs, steadily navigating through the challenges. As a result, it achieved a doubling of net profit attributable to shareholders of the listed company compared to the same period last year, despite a decrease in revenue scale year-on-year.
During the reporting period, Changying Precision's consumer electronics business achieved a total revenue of 101.32 billion yuan, a decrease of 19.63% compared to 2022, due to weak downstream demand in the first half of the year. Despite the slight decline in revenue scale, Changying Precision made significant progress in new projects. In the fourth quarter of 2023, Changying Precision's major customer XR (AR/VR/MR) project successfully achieved mass production. As XR (AR/VR/MR) products represent the trend of the AI+ era as innovative intelligent terminals, the successful mass production of this project indicates that Changying Precision is prepared for the arrival of the AI+ era.
In 2024, AI (Artificial Intelligence) products are expected to be widely applied across various fields including PC, mobile phones, smart cars, robots, drones, XR (Extended Reality), digital health, smart education, smart cities, and smart homes. The user experience of consumer electronics products is expected to be redefined under the empowerment of AI. Mobile phones and IoT (Internet of Things) devices are expected to become the main access points for ubiquitous connectivity and AI+ applications in the future, potentially enhancing the downstream value of smart hardware, promoting innovation in various AI software ecosystems, and accelerating the renewal and recovery pace of the downstream consumer electronics industry.
In the future, Changying Precision will closely follow industry trends. While serving large clients on projects such as AI phones and AIPC (AI Personal Computers), Changying Precision will also leverage its precision manufacturing advantages in new terminal products such as XR and humanoid robots to provide customers with precision components that meet their needs.
Source: Changying Precision
The original article was first published on the WeChat official account (Aibang VR Industry News)：Changying Precision released its 2023 annual report, announcing the successful mass production of major XR projects for large clients
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