Summary by Futu AI
Chiheng Automobile Technology (Suzhou) Co., Ltd. announced its results for the year ended December 31, 2023, with a revenue of RMB1,216,287 thousand, a decrease of 8.27% from the same period last year. Among them, revenues from autonomous driving solutions and products decreased by 9.78%, while revenues from autonomous driving related R&D services increased by 66.28%. Gross profit increased by 9.39% and gross margin increased to 9.94%. During the reporting period, loss before tax and loss attributable to equity holders of the Company decreased by 43.02%, and basic and diluted loss per share was RMB0.95. The Board of Directors does not recommend the payment of a final dividend. The company successfully completed its initial public offering in December 2023, and H shares were listed on the main board of the Hong Kong Stock Exchange Limited. Looking ahead, the company will continue to drive commercialization of autonomous driving solutions, deepen cooperation with OEM customers, and explore more diversified business models.