Core Viewpoint - The company, SUTENG JUCHUANG (02498), has announced a share buyback of 2.9 million shares at a total cost of HKD 9.9175 million, signaling confidence in its future growth and current stock price [1] Company Summary - The company has achieved a significant milestone in core technology by successfully passing AEC-Q series automotive certification for its self-developed SPAD-SoC and 2D VCSEL chips [1] - It is the only global technology enterprise to have all three core links of digital lidar—transmission, reception, and processing—achieve automotive-grade standards with self-developed chips [1] - The new generation EM platform products have entered mass production, with EM4 being the only lidar in mass production with a range exceeding 500 meters, and E1 being the only fully solid-state lidar in mass production [1] - The company has secured orders from eight leading automotive manufacturers for 45 vehicle models, bringing the total number of designated models to 133 [1] Industry Summary - A new national standard in China, "Safety Requirements for Intelligent Connected Vehicle Combination Driving Assistance Systems," has included lidar for the first time, which is expected to benefit the industry [1] - The convergence of core technological breakthroughs, product mass production, and favorable policies is reinforcing the company's market leadership position [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 第 1 頁 共 6 頁 v 1.3.0 FF305 公司名稱： 速騰聚創科技有限公司 呈交日期： 2025年10月20日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 不適用 | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 02498 | 說明 | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | 事件 | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | 每股發行/出售價 (註4) | | | | | ...

Core Insights - RoboSense has achieved a significant milestone by having its fully self-developed chip pass the AEC-Q automotive certification, making it the only company globally to reach this achievement, which enhances its competitive edge in the lidar technology sector [2][7] Group 1: SPAD-SoC Chip - RoboSense's SPAD-SoC chip is the world's first lidar receiving processing SoC chip and the only one to pass the AEC-Q102 certification, featuring high performance, high integration, and high reliability [3] - The chip improves target recognition rate to 99% and has a sampling capability of 44 billion samples per second, effectively preventing missed detections [3] - It includes a 384-Core signal processing capability for high dynamic response and can detect low-reflectivity objects, while also being resistant to rain, fog, and dust interference [3] Group 2: Proprietary Technologies - The chip incorporates three proprietary technologies that enhance performance and reliability, including Crosstalk Immunity Encoding (ClE), which improves sunlight noise resistance by 95% and cross-talk resistance by 90% [4] - PicoSecond Timing Technology (PTT) enhances distance measurement accuracy by 15 times to 3 cm while reducing power consumption [4] - The Adaptive Fusion Algorithm (AFA) optimizes signal extraction, reducing blind spots by 70 times [4] Group 3: 3D Stacking and Bonding Technology - RoboSense has achieved a global first by integrating SPAD and SoC through 3D stacking, resulting in over 50% reduction in size and high integration [5] - Copper-copper bonding technology provides each SPAD with an independent processing circuit, ensuring low-loss and low-latency signal transmission [5] Group 4: 2D VCSEL Chip - RoboSense's 2D VCSEL chip is the only mass-producible two-dimensional addressable VCSEL chip in the industry, utilizing two-dimensional addressable scanning to suppress high reflectivity expansion [6] - The chip supports flexible matrix scanning, significantly enhancing laser emission efficiency, and features a combined SiP technology that improves accuracy while reducing parasitic parameters [6] Group 5: E Platform - The E platform, equipped with the AEC-Q certified SPAD-SOC and 2D VCSEL chips, is the first mass-producible all-solid-state digital lidar platform in the industry [7] - This platform not only showcases RoboSense's leading position in lidar technology but also provides robust technical support for the development of autonomous driving and intelligent transportation [7]

Core Insights - RoboSense has achieved AEC-Q102 automotive-grade reliability certification for its two core digital lidar chips, making it the only technology company globally to have self-developed chips for the entire lidar link that meet automotive standards [1] - The SPAD-SoC chip is the world's first integrated chip that combines SPAD receiving arrays with data processing SoC, meeting AEC-Q certification and ready for mass production [2] - RoboSense's E and EM platform digital lidar matrices have entered automotive-grade mass production, covering various applications such as Robotaxi, ADAS, and service robots [3] Group 1 - The AEC-Q certification involves rigorous testing under extreme conditions, ensuring long-term stability of the chips in harsh environments [1] - The digital architecture developed by RoboSense requires only two core chips to achieve the same functionality as traditional analog lidar, with performance capabilities exceeding those of analog systems by over ten times [1] - The SPAD-SoC chip features a high sampling rate of 44 billion samples per second, improving target recognition rates by 99% and enabling effective detection of low-reflectivity objects [2] Group 2 - The EM platform series has secured contracts with eight major manufacturers for 45 vehicle models, including a significant partnership with a leading global electric vehicle company for 32 models [3] - The integration of SPAD and SoC through 3D stacking technology allows for a 50% reduction in the size of the lidar system, enhancing its compactness and efficiency [2] - Current models equipped with RoboSense's EM platform include the Zeekr 9X and the IM LS6, which have been launched and delivered to the market [3]

Core Viewpoint - RoboSense has achieved a significant milestone by having its two core chips for digital lidar pass the AEC-Q102 automotive reliability certification, making it the only company globally to have self-developed chips for the entire digital lidar link that meet automotive standards [1][4] Group 1: Certification and Technology - RoboSense's self-developed SPAD-SoC and 2D VCSEL chips have successfully passed the AEC-Q certification, marking a breakthrough in the global certification of digital lidar core chips [1][4] - The AEC-Q certification involves rigorous testing under extreme conditions, ensuring the reliability of automotive electronic components [4] Group 2: Performance and Innovation - The digital architecture established by RoboSense requires only two core chips to achieve the same functionality as traditional analog lidar, which typically needs seven key components [6] - The SPAD-SoC chip integrates SPAD receiving arrays with data processing SoC, enhancing target recognition rates by 99% and achieving a high sampling rate of 440 billion samples per second [6] - The 2D VCSEL chip is the world's only mass-produced two-dimensional addressable VCSEL emitting chip, which significantly improves laser emission efficiency and energy utilization [8] Group 3: Proprietary Technologies - RoboSense's proprietary technologies include Crosstalk Immunity Encoding, PicoSecond Timing Technology, and Adaptive Fusion Algorithm, which enhance signal processing and measurement accuracy while reducing power consumption [10][11] Group 4: Market Applications and Partnerships - RoboSense's digital lidar platforms have entered mass production, covering applications in Robotaxi, ADAS, and service robots [11] - The EM platform has secured contracts with eight major manufacturers for 45 vehicle models, including a significant partnership with a leading new energy vehicle company [13][14] - The combination of EM4 and E1 products is becoming the preferred choice for L3 and L4 autonomous driving applications, with multiple contracts from top Robotaxi clients [14][16]

Core Insights - RoboSense has achieved AEC-Q102 automotive-grade reliability certification for its two core digital lidar chips, making it the only company globally to have self-developed chips for the entire lidar link that meet automotive standards [1][4] - The SPAD-SoC chip and 2D VCSEL chip represent a significant technological advancement in lidar, with the SPAD-SoC integrating reception and processing capabilities, and the 2D VCSEL chip utilizing a unique 2D addressable scanning technology [6][9] Group 1: Certification and Technology - The AEC-Q certification is a global standard for automotive electronics, established by the Automotive Electronics Council (AEC) to ensure product reliability through rigorous testing under extreme conditions [4] - The SPAD-SoC chip features a high sampling rate of 440 billion samples per second and a 99% effective target recognition rate, significantly enhancing signal collection and processing capabilities [6] - The 2D VCSEL chip achieves an energy utilization rate of up to 70%, reducing power consumption and improving heat dissipation [9] Group 2: Competitive Advantages - RoboSense's digital lidar technology offers advantages over traditional analog systems, including higher resolution, stronger anti-interference capabilities, and a reduction in system size by over 50% [6][13] - The company has developed three proprietary technologies that enhance the performance of its chips, including Crosstalk Immunity Encoding, PicoSecond Timing Technology, and Adaptive Fusion Algorithm, which collectively improve measurement accuracy and reduce blind spots [11][13] Group 3: Market Position and Applications - RoboSense's EM4 and E1 lidar products have been selected by multiple leading Robotaxi clients in North America and China, establishing a strong market presence [15] - The EM platform has secured 45 model designations from eight major automotive manufacturers, indicating robust demand for its lidar solutions across various driving assistance and autonomous driving applications [17]

Core Viewpoint - Xinteng Juchuang (02498) maintains a "Buy" rating with a target price of HKD 48.50 per share, adjusting financial forecasts for FY2025 downwards while increasing expectations for FY2026 and FY2027, driven by significant contributions from robotic application lidar [1] Group 1: Financial Performance - In the first half of FY2025, Xinteng Juchuang recorded revenue of RMB 780 million, a year-on-year increase of 7.7%, primarily from robotic application lidar sales, which surged by 184.8% [1] - The group's gross margin improved to 25.9%, reflecting economies of scale and continuous improvements from proprietary technology [1] Group 2: Market Dynamics - Sales of ADAS lidar in the first half of FY2025 decreased by 18.8% year-on-year, with shipments dropping to 220,500 units due to reduced orders from two major clients [2] - The introduction of cost-effective EMX and digital lidar EM4, compliant with L3/L4 standards, is expected to strengthen the group's position in the digital lidar market [2] Group 3: Growth Drivers - In the first half of FY2025, Xinteng Juchuang delivered 46,300 units of robotic application lidar, a nearly sixfold increase year-on-year, driven by strong demand in the lawnmower robot market [3] - The group has secured a significant order for approximately 1.2 million automotive-grade solid-state lidar units, laying a solid foundation for future revenue growth [3]

Core Viewpoint - Xuteng Juchuang (02498) maintains a "Buy" rating with a target price of HKD 48.50 per share, with adjusted financial forecasts reflecting a decrease in estimated revenue for FY2025 but an increase for FY2026 and FY2027, driven by significant contributions from robotic applications of LiDAR technology [1] Group 1: Financial Performance - In the first half of FY2025, Xuteng Juchuang recorded revenue of RMB 780 million, representing a year-on-year growth of 7.7%, primarily driven by a 184.8% increase in revenue from robotic LiDAR sales [1] - The company's gross margin improved to 25.9%, indicating ongoing enhancements from economies of scale and advancements in proprietary technology [1] Group 2: Market Dynamics - Sales of ADAS LiDAR in the first half of FY2025 decreased by 18.8% year-on-year, with shipments dropping to 220,500 units, mainly due to reduced orders from two major clients [2] - The introduction of cost-effective EMX and digital LiDAR EM4, compliant with L3/L4 standards, is expected to strengthen the company's position in the digital LiDAR market [2] - Despite a decline in average selling price to RMB 2,192.5, the increase in EMX sales proportion is anticipated to enhance sales performance in Q4 [2] Group 3: Growth Potential in Robotics - In the first half of FY2025, Xuteng Juchuang delivered 46,300 units of robotic LiDAR, marking an approximate sixfold increase year-on-year, driven by strong demand in the lawnmower market [3] - The company has secured a significant order for approximately 1.2 million automotive-grade solid-state LiDAR units, laying a solid foundation for future revenue growth [3] - The upcoming release of the improved AC2, which integrates camera, LiDAR, and IMU data, aims to meet the increasingly complex demands of downstream industry applications [3]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 速騰聚創科技有限公司 呈交日期: 2025年10月8日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02498 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 800,000,000 | USD | | 0.0001 | USD | | 80,000 | | 增加 / 減少 (-) | | | 0 | | | | USD | | | | 本月底結存 | | | 800,000,000 | USD | | 0.0001 | USD | | 80,000 | 本月底法定/註冊股本總額： U ...

Core Viewpoint - The stocks of several companies, including Sanhua Intelligent Control, UBTECH, Jinli Permanent Magnet, and Sutech, have experienced notable increases in their share prices, indicating positive market sentiment towards these firms [1] Group 1 - Sanhua Intelligent Control (02050.HK) has seen a share price increase of 7.29% [1] - UBTECH (09880.HK) has experienced a rise of 4.49% in its stock price [1] - Jinli Permanent Magnet (06680.HK) has recorded a 2.67% increase in its share price [1] - Sutech (02498.HK) has risen by 2.35% in its stock price [1]