Qi Jinzhao China Securities Journal 2025-02-10 20:53

China Securities News (Reporter Qi Jinzhao) After the market on February 10, Guangfeng Technology (688007) announced that the company recently received a development fixed-point notice issued by a well-known car company, and will supply intelligent cockpit display products for its SUV models of the new era technology brand, which is expected to be mass-produced and supplied in 2025.

Guangfeng Technology said that with the rapid growth of consumers' demand for intelligent cockpits, as well as the increasing favor of various car companies for on-board projection screens and the issuance of new fixed-point notices for the company, the company's first vehicle-grade projection giant screen has increased the penetration rate in the field of automotive electronics, and is suitable for SUVs, sedans, MPVs and buses and other models. The receipt of the fixed-point notice this time is the customer's recognition of the company's innovative on-board product performance, excellent service performance and supply qualification. Up to now, based on the technology, innovation and differentiation of on-board products, the company has obtained a total of 11 on-board business designations.

According to the performance forecast previously disclosed by Guangfeng Technology, the company expects to achieve operating income of about 2.418 billion yuan in 2024, a year-on-year increase of about 9.26%. It is worth mentioning that based on the company's technical advantages, the diversification of product categories and the differentiation of customers, the on-board optical business will enter the stage of rapid start-up in 2024, deliver on-board products with quality and quantity, and achieve an operating income of more than 600 million yuan. This is also the first year that the company's automotive optics business contributed revenue, that is, the revenue accounted for about 24.8%, which fully reflects the company's precise layout in innovative business and the excellent results of original core technology advantages.

A few days ago, the China Association of Automobile Manufacturers released data that in 2024, China's automobile production and sales will be 31.282 million and 31.436 million respectively, an increase of 3.7% and 4.5% year-on-year, respectively. This is the second consecutive year that China's automobile production and sales have exceeded 30 million, which has played an important role in supporting the steady growth of the industrial economy. With the vigorous development of the automotive industry, new technologies, new products and new models are also emerging. Among them, Guangfeng Technology has successfully innovated application scenarios with its first automotive-grade projection giant screen, bringing more possibilities to the cockpit display field.

Guangfeng Technology said that the company will focus on core brand customers and high-quality customers, and actively cooperate with car companies to jointly promote the implementation of fixed-point projects.

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