SmartSens' performance in the first three quarters of 2024 has increased significantly, with outstanding performance in the field of smart security and smartphones
SmartSens recently released its third quarter 2024 report, which shows that the company has achieved significant performance growth in the first three quarters. Specifically, the company achieved operating income of 4.208 billion yuan, a year-on-year increase of 137.33%; The net profit attributable to shareholders of the listed company was 273 million yuan. Among them, in the third quarter, the company achieved operating income of 1.751 billion yuan, a year-on-year increase of 150.04%; The net profit attributable to shareholders of listed companies was 123 million yuan, a year-on-year surge of 14181.63%.
The report pointed out that the rapid growth of the company's performance was mainly due to the strong shipments of smart phones, automotive electronics and smart security. In the field of smart security, the company's newly launched iterative products have achieved a significant increase in sales and sales revenue by virtue of better performance and competitiveness. In the field of smartphones, the company's shipments of high-end 50 million pixel products applied to the main camera, wide-angle, telephoto and front camera lenses of flagship mobile phones have increased significantly, while the cooperation with customers has been deepened in an all-round way, and the market share has continued to increase, successfully opening up a second growth curve.
In addition to revenue growth, SmartSens also sought to achieve cost savings and efficiency by controlling the expense of selling and administrative expenses, thereby improving profitability and resulting in a significant increase in net profit. In terms of R&D investment, the company invested a total of 321 million yuan in the first three quarters, a year-on-year increase of 50.11%, showing that the company attaches great importance to technological innovation and product research and development.
As a high-tech enterprise engaged in the R&D, design and sales of CMOS image sensor chip products, SmartSens has always focused on the innovation and R&D of high-end imaging technology. The company's products have covered the full performance requirements of multi-scenario applications such as security monitoring, machine vision, intelligent vehicle electronics, and smart phones, and have been recognized and favored by many customers by virtue of their own performance advantages.
Looking ahead, with the recovery of downstream terminal demand such as smartphones, the market size of the global CIS industry will show a steady growth trend. According to industry forecasts, the global smartphone CIS market size will reach $13.22 billion in 2024, while the global CIS market is expected to grow from $21.8 billion in 2023 to $28.6 billion in 2029 at a compound annual growth rate of 4.7%. In addition, considering that Sony and Samsung are gradually reducing part of the CIS share in the Chinese market, and local CIS manufacturers are introducing high-specification CIS products, the localization rate of China's CIS is expected to further increase.
SmartSens said that it will continue to increase R&D investment and enhance product competitiveness to meet the changing needs of the market and promote the company's continuous growth.
