Summary by Moomoo AI
Zhihang Automobile Technology (Suzhou) Co., Ltd. (referred to as Zhihang Automobile Technology) released its mid-year report for 2024. The report shows that in the first half of 2024, the company achieved revenue of 636.16 million RMB, an increase of 17.11% year-on-year; gross profit of 44.85 million RMB, an increase of 9.29% year-on-year. The gross margin slightly decreased from 7.55% to 7.05%. The loss for the period was 98.61 million RMB, slightly less than the 99.75 million RMB in the same period last year. The company's main business is the development, manufacturing, and sales of autonomous driving products and solutions, and it was listed on the Main Board of the Hong Kong Stock Exchange on December 20, 2023. During the reporting period, the company obtained 18 fixed-point letters from well-known OEM customers such as Chery Automobile, Geely Auto, and Dongfeng Automobile, actively promoted overseas production capacity layout. The company continues to increase investment in more advanced algorithms and launches a new generation of automatic driving domain controller products.
