Chinese autonomous driving chip firm Black Sesame International (2533) expects to make a net profit of no less than 100 million yuan (HK$107.15 million) in 2024 from a net loss in the previous year, mainly due to increased revenues from autonomous driving products and solutions.

The company expects revenue to rise to 60 percent year-on-year to 500 million yuan in the same period.

The growth was mainly attributed to increased revenue from sales of chips and solutions to China’s leading automotive original equipment manufacturers including BYD (1211), said the company.

Black Sesame recorded a net loss of around 4.86 billion yuan in 2023.