Nanochip suffered a decline in profits, and the automotive business became a growth highlight

Against the backdrop of a global economic slowdown, the semiconductor industry has entered a downward cycle, and Xiaomi's investment in Nanochip is also facing a decline in profits, with a loss of 305 million yuan in 2023. Despite this, Nanochip's automotive business has become its growth highlight, accounting for 30.95% of its revenue.