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Skyworth Digital released its 2023 annual report, further expanding its XR market both domestically and internationally.

Bysun, keting

Mar 22, 2024
On March 22nd, Skyworth Digital released its annual report for the year 2023. In 2023, Skyworth Digital achieved operating revenue of 10,627.45 million yuan, a year-on-year decrease of 11.50%. The net profit attributable to shareholders was 602.07 million yuan, a year-on-year decrease of 26.85%. The gross profit margin was 16.75%, and the net cash flow from operating activities was 475.25 million yuan, a year-on-year decrease of 70.49%.
创维数字2023年报发布，进一步拓展国内外XR市场
创维数字2023年报发布，进一步拓展国内外XR市场
The report pointed out that in 2023, with the widespread deployment of 5G network infrastructure and advancements in technologies such as artificial intelligence and AIGC, the XR industry encountered new opportunities. Various manufacturers successively launched consumer-grade VR/MR/AR terminals. Apple's debut of the "Spatial Computing" Vision Pro headset at WWDC2023 had a profound positive impact on the industry, enriching the XR content ecosystem continuously. Skyworth Digital, primarily focusing on its Pancake series products, customized projects for overseas industry B-end customers. It notably expanded its presence in XR industry applications in countries such as Japan, the United States, South Korea, India, and Brazil, achieving sales in these regions. During the reporting period, Skyworth Digital entered into a strategic partnership with Indian customers to provide customized MR product equipment services. The MR products supported gesture recognition, eye tracking, and RGB VST high-definition color perspective functions, showcasing upgraded performance and features, thus offering users a new MR experience. Skyworth Digital actively participated in XR professional exhibitions both domestically and internationally, enhancing brand awareness and further expanding market space.
Skyworth Digital's AI team has conducted extensive and in-depth research in various AI technology directions, including computer vision (CV), natural language processing (NLP), speech recognition, image super-resolution reconstruction, low-light image enhancement, face detection and recognition, general object detection, ReID recognition, action recognition, abnormal behavior detection, among many other algorithms. They have also delved into virtual reality 6DOF/SLAM algorithms, as well as autonomous algorithms such as camera calibration, IMU joint calibration, visual-inertial localization, visual reorientation, and others. Algorithms related to CMOS and TOF focusing, ladder correction, and obstacle avoidance have been applied in the company's products such as smart set-top boxes, smart cameras (IPC), smart network video recorders (NVR), VR/MR devices, and others.
The report indicates that Skyworth Digital has expanded its investment projects and production lines based on the funds raised from the original projects. The main focus is on investing in the construction of Phase I of the Huizhou Skyworth Digital Industrial Park. This project involves the construction of digital factories, related smart parks, IT facilities, acquisition of advanced intelligent terminal product assembly lines, SMT production lines, information systems, etc. These efforts aim to expand the production capacity of the company's digital smart set-top boxes, network communication devices, and VR/MR/AR products. On one hand, this expansion caters to the long-term and sustained development needs of the company's business, further enhancing its market share in the smart terminal product market and consolidating and expanding its market leadership position. On the other hand, by improving the level of independent production and reducing the proportion of outsourced production, the company aims to enhance the profitability of its smart terminal product series.
创维数字2023年报发布，进一步拓展国内外XR市场
The company's plan for its MR/VR/AR business involves several key strategies:
Domestic market：
The translation is: "Domestically, the focus is on applications in industries such as VR + healthcare and VR + education, expanding the customer base in sectors like healthcare and education. At the same time, based on VST technology, the company's products are optimized and innovated in terms of clarity, distortion, latency, etc., and are maturely applied to expand the domestic MR market for large-scale multi-user interaction."
Overseas market：
  • The Swaii MR PACAKE 2 product, competing with Apple's Vision Pro in basic capabilities, is based on the Qualcomm XR2+Gen 2 chip and algorithm platform, featuring a single-eye 4K Micro-OLED screen and dual-eye 8K resolution (3552*3840*2). It supports binocular color perspective (RGB Video See Through), enabling natural gesture recognition interaction, eye tracking, and voice input for hands-free interaction in real environments. It actively explores new application customers in overseas B-end markets such as education, training, and healthcare.
  • The Swaii MR PACAKE 1 product, featuring binocular color perspective (RGB Video See Through), is equipped with a FastLCD screen with 1512PPI and a 90Hz refresh rate. Additionally, the lightweight and thin VR PACAKE 1 product with dual-eye 5K high-definition display has achieved incremental bulk sales in overseas B-end markets such as India, Japan, Brazil, the United States, and Europe.
  • The AR A1 product, boasting a high-definition large screen and a pocket-sized cinema experience, is expanding its sales in overseas ToC (Consumer-oriented) retail markets.
Based on XR products evolving into spatial computing platforms, the company plans to increase investment in spatial perception algorithms for future products and for both ToC (Consumer-oriented) retail markets and ToB (Business-oriented) operator markets. This includes implementing in-depth research and development on 3D reconstruction structure light, gesture recognition, and six-degree-of-freedom positioning algorithms, as well as the use of AIGC tools such as ChatGPT and Sora on MR products, and the development and design of new ID and structural components.
Future Development Strategy
Skyworth Digital currently focuses on and nurtures strategic emerging industries including next-generation information technology, broadband network communication, virtual reality/mixed reality/augmented reality (XR), automotive intelligence, ultra-high-definition audio and video, etc. Based on the "Digital China" strategy and the evolution of global digital economy and artificial intelligence development, the integration and development of XR spatial computing platforms and industry applications, combined with the action plan for the ultra-high-definition audio and video industry and broadband network communication and 5G-A applications, are continuously advancing. Leveraging broadband networks, virtual (augmented) reality, big data and edge computing, automotive intelligence, smart homes/cities, and more are continuously developing. The company will continue to deepen its roots in China, further solidify its industrial foundation, and, from an international perspective, seize new opportunities, formats, applications, and services in industrial layout.
For virtual reality (VR)/mixed reality (MR)/augmented reality (AR) devices and the operation of new ecosystems, the positioning is as an integrated provider of spatial computing and system platforms with content distribution. Based on new applications such as spatial gaming, MR broadcasting (sports, stage arts, talent shows, etc.), education, healthcare, conferences, office work, cultural tourism, socializing, etc., tailored solutions are provided for industries domestically and internationally, targeting B2B operators and ToC consumers for XR device sales and content/application operations. Development and design efforts are focused on XR technology, spatial perception algorithms, 3D reconstruction structured light, six-degree-of-freedom SLAM positioning and interaction technologies, etc., to build the underlying core of spatial computing platforms and new space applications.

The original article was first published on the WeChat official account (Aibang VR Industry News)：Skyworth Digital released its 2023 annual report, further expanding its XR market both domestically and internationally.

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By sun, keting

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