On the evening of April 26, Guangfeng Technology announced its first quarter financial report for 2024. In the first quarter, the company achieved operating income of 445 million yuan; net profit attributable to the parent company was 44.5433 million yuan, a significant year-on-year increase of 226.21%.
In the first quarter, the Wenjie M9 equipped with the company's in-vehicle projector began mass production and delivery, marking a breakthrough in the company's in-vehicle business revenue from 0 to 1, becoming a key growth pole for the company in the future.
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In addition, Guangfeng Technology also released the world's first ALL-in-ONE all-purpose laser headlights at the 2024 Beijing Auto Show, and announced that the in-vehicle projection giant screens 2.0 and 3.0 are also continuing to be developed, putting the in-vehicle business on the fast track.
Net profit increased by 226% in the first quarter, and vehicle revenue broke through from 0 to 1
The financial report disclosed by Guangfeng Technology shows that the company achieved operating income of 445 million yuan in the first quarter of 2024, which remained stable compared with the same period last year.
However, the net profit attributable to the parent company surged 226.21% year-on-year to 44.5433 million yuan. Moreover, net profit excluding non-attributable profits to the parent company has turned around from loss to profit, and key financial indicators have performed steadily.
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In December 2023, Guangfeng Technology ushered in the official launch of the first designated model, the Wenjie M9, and entered the intensive mass production and delivery stage in March 2024.
With the smooth launch and delivery of the M9, Guangfeng Technology's car-grade projection giant screen has been fully verified by the market, and the vehicle-mounted optics business has also brought substantial revenue to the company for the first time.
Specifically, according to the delivery pace of car companies, the company's automotive optics business achieved operating income of 48.0268 million yuan in the first quarter.
On April 11, Wenjie announced that the cumulative number of M9 vehicles in the three months since its launch has exceeded 70,000, and its monthly delivery capacity has climbed to 25,000+ vehicles, becoming the new king of more than 500,000 vehicles, setting a new record for luxury car sales speed.
It is expected that the sales of Wenjie M9 will drive the continuous revenue generated by Guangfeng Technology’s automotive optics business.
The reason why Guangfeng Technology was able to achieve a breakthrough in vehicle revenue from zero to one is due to its continuous research and development efforts. The financial report shows that the company's R&D investment in 2023 will reach 281 million yuan, a year-on-year increase of 7.18%, and the R&D investment proportion will reach 12.69%, an increase of 2.38 percentage points from last year.
At the same time, the company is also continuously expanding its R&D team, and the number of R&D personnel has reached 428, accounting for 30.16% of the company’s total number of employees.
As of the end of 2023, Guangfeng Technology has applied for and authorized a total of 2,862 patents worldwide, of which 2,091 have been authorized, including 1,081 authorized invention patents, and won the “24th China Patent Excellence Award” and many other honorary recognitions.
In addition, as laser light source technology becomes more and more popular and movie box office continues to rise, Guangfeng Technology's revenue from the theater business has also grown steadily.
Released the world's first ALL-in-ONE all-purpose laser headlight
On April 25, the 2024 Beijing International Automobile Exhibition officially kicked off. With the theme of “New Cars in the New Era”, this auto show is expected to have 117 global premiere cars, 41 concept cars, and 278 new energy models.
Guangfeng Technology, following its wonderful debut at the 2023 Shanghai Auto Show, once again participated in the Beijing Auto Show as an independent exhibitor.
At this exhibition, Guangfeng Technology released the world's first ALL-in-ONE all-purpose laser headlight, marking its major breakthrough in automotive lighting technology.
As we all know, the development of automobile headlights has evolved from halogen lamps, xenon lamps, LED lamps to laser headlights.
At present, although LED lights occupy the mainstream position in the market, laser headlights are gradually emerging with their more advanced technical characteristics.
Compared with traditional LED light sources, laser light sources not only maintain the advantages of fast response speed and low brightness attenuation, but are also more compact.
Its most notable feature is its extremely high brightness. The brightness of the ALPD laser light source used by Guangfeng Technology is 10 times that of traditional automotive-grade LEDs. When paired with the same DLP digital light processing chip, the luminous flux output by the system can be increased by more than 2 times, which provides the possibility to reduce energy consumption and meet the energy conservation and environmental protection requirements of smart cars.
Thanks to the small size and high brightness of the laser light source, the ALL-in-ONE all-purpose laser headlights launched by Guangfeng Technology have achieved ultimate integration and intelligence.
This innovative product integrates multiple functions – including high-beam ADB headlights, variable color temperature headlights (compatible with fog light mode), high-beam lighting, ground information display, car theater, etc. – into a compact car lighting module .
This design revolutionizes the functions that can only be achieved by multiple car light modules in the past, greatly reduces the power consumption and volume of the system, and significantly reduces the total cost. It not only meets safety needs, but also enhances the social attributes and personalized features of the vehicle.
New energy vehicles are a general trend, and high-end models have growing demands for high performance, personalization and interactivity, all of which need to be achieved through laser headlight technology.
Guangfeng Technology's ALL-in-ONE all-purpose laser headlights provide a practical and personalized solution for high-end models.
It is worth mentioning that at this Beijing Auto Show, a number of Guangfeng Technology’s designated models were also displayed on the same stage, including SMART’s latest concept car equipped with laser projector lights provided by the company, which can provide outdoor viewing and Various experiences such as road surface display; at the same time, BAIC New Energy and Hongqi Motors also demonstrated related applications.
Audiences in Beijing may wish to come to the event in person to see these innovative technologies.
Car projection system 1.0 is very popular! 2.0 and 3.0 raise expectations
In addition to laser headlights, Guangfeng Technology has already made achievements in vehicle-mounted projection giant screens, and has achieved substantial success.
As a luxury technology flagship SUV, the Wenjie M9's sales exceeded 70,000 units within three months of its launch, fully proving its strong position and wide recognition in the market.
This 500,000-class SUV model is not only equipped with cutting-edge technology, but also equipped with the industry's first car-level projection giant screen, providing passengers with an immersive audio-visual experience.
The core device of this innovative design is derived from the technology of Guangfeng Technology, one of the first companies listed on the Science and Technology Innovation Board.
The car-grade projection giant screen of Wenjie M9 adopts the original ALPD semiconductor laser light source technology of Guangfeng Technology. It has a projection size of 420x720mm and can be infinitely zoomed between 20 and 32 inches to meet users’ requirements for high definition, high brightness and The need for wide viewing angles.
In addition, its 100% P3 color gamut display capability is comparable to Hollywood cinema-level colors, and it can automatically adjust the brightness according to changes in ambient light to ensure a comfortable viewing experience.
During the development process, the biggest challenge faced by Guangfeng Technology was the lack of ready-made solutions on the market, because almost all existing curtain and optical-mechanical solutions cannot meet the requirements of vehicle regulations.
Guangfeng Technology has achieved a breakthrough from 0 to 1 through original research and development, from curtain material selection to structural design.
After tens of thousands of experiments and hundreds of material screenings, the curtain of its special elastic material remains stable under extreme temperatures, is wrinkle-resistant, scratch-resistant, and easy to clean. The aircraft-grade aluminum alloy frame performed well in crash tests, ensuring the screen is stable and shake-free when driving at high speeds.
It is precisely because of this diligent pursuit that the perfect giant car projection screen was finally created, which can be used on the Wenjie M9.
It is worth mentioning that at the Beijing Auto Show, Guangfeng Technology revealed that it is developing a new generation of vehicle projection systems 2.0 and 3.0.
Among them, the 2.0 solution doubles the brightness and resolution, and the screen material is upgraded to better resist ambient light, thereby providing a better visual experience.
The 3.0 solution integrates AI technology and greatly enhances interactive functions, making the projection system much more powerful than a simple display.
Summary: Guangfeng Technology leads the development of automotive laser headlights and projection industry
According to statistics from the Passenger Car Association, the domestic retail penetration rate of new energy vehicles in March was 41.6%, an increase of 7.6 percentage points from the same period last year. The penetration rate of new energy vehicles among independent brands reached an astonishing 63.3%.
There is no doubt that the rise of new energy vehicles will be a historic opportunity, and companies that master the core technology of new energy vehicles will be able to occupy broad market prospects.
Guangfeng Technology is such a company. It relies on its profound accumulation in the field of laser projection technology to actively expand the market for automotive laser headlights and vehicle-mounted projection giant screens. It has achieved major technological breakthroughs in these two fields and continues to maintain its position in the industry. leading position.
As Li Yi, the founder, chairman and CEO of Guangfeng Technology, expressed to shareholders in the 2023 annual report, the company will seize the opportunity of transforming from a small market to a large market and further expand the company's strategic advantages and achievements in the field of automotive optics.
We have reason to believe that in the near future, Guangfeng Technology will launch more innovative automotive optics and smart cockpit products and become one of the core suppliers in the high-end new energy vehicle market.
At the same time, it is precisely because of the unremitting efforts of pioneering companies like Guangfeng Technology that consumers can look forward to more intelligent new car products and a new driving experience.
