Summary by Moomoo AI
SHENZHEN GROUP CO., LTD. (SHANTA-W) ANNOUNCES CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2023. For the period, Group revenue was RMB3,405.8 million, down 10.6% year-on-year; gross profit was RMB1,500.8 million, gross profit was 44.1%; annual loss was RMB6,494.7 million, an increase of 6.6% year-on-year. EBITDA was negative RMB5,449.6 million, down 2.2% year-over-year. The company achieved 199.9% growth in its generative AI business, with revenues exceeding RMB 1,183.7 million, accounting for 34.8% of total revenue. Smart car business revenue was RMB383.7 million, up 31.1% year-on-year. Revenue from the traditional AI business fell 41.1% to RMB1,838.4 million. R&D, management, and sales of the three categories of operating expenses decreased by 10.6% year-on-year and capital expenditures decreased by 20%. The Group has not paid a final dividend.