Group 1 - The company, Sutech Juchuang, announced a share buyback of 323,000 shares at a total cost of approximately HKD 10.01 million, with prices ranging from HKD 30.72 to 31.2 per share, reflecting management's confidence in the business outlook [1] - In Q3, the company reported total revenue of approximately CNY 407 million, with expectations for a significant increase in digital lidar deliveries in Q4, aiming for its first quarterly profit [1] - The total sales of lidar units reached approximately 185,600, representing a year-on-year growth of 34.0%, while sales in the robotics and other sectors surged by 393.1% year-on-year in Q3 [1] Group 2 - In the RoboTaxi sector, the company achieved a breakthrough by partnering with Didi Autonomous Driving for a new generation model, utilizing a combination of 10 lidar units for all-weather operational capabilities [2]

格隆汇11月26日丨速腾聚创(02498.HK)发布公告，2025年11月26日耗资1001万港元回购32.3万股，回购 价格每股30.72-31.2港元。 ...

FF305 公司名稱： 速騰聚創科技有限公司 呈交日期： 2025年11月26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) | | | | | 已發行股份（不包括庫存股份）數 目 | 佔有關事件前的現有已發 行股份（不包括庫存股 份）數目百分比 (註3) | 庫存股份數目 | | 已發行股份總數 | | 於下列日期開始時的結 ...

Core Viewpoint - The report from Guotai Junan Securities maintains an "overweight" rating for SUTENG JUCHUANG (02498), raising the target price to HKD 43.36, highlighting the company's active exploration in the pan-robotics and Robotaxi, Robovan market applications, with impressive order progress and strong performance in the third quarter [1] Group 1 - The EM platform has successfully expanded the customer base for passenger car lidar applications, with recent significant contracts from a major new energy vehicle company and a leading global SUV and pickup manufacturer [1] - The company has secured a three-year exclusive contract for a new pure electric model from Japan's largest automaker and a Chinese joint venture brand [1] Group 2 - The Robotaxi business is expected to see a trend of multiple lidar applications per vehicle, with a recent partnership with Didi to provide an EM4+E1 solution featuring ten lidar units for all-weather operational capabilities [2] - The company has delivered 35,500 lidar units in the third quarter for the pan-robotics sector, marking a significant year-on-year increase [2] - SUTENG JUCHUANG has become the preferred perception solution for several unmanned delivery developers, including JD.com, Meituan, and others [2] - New products such as Fairy and AC2 have been launched, with Fairy being a high-precision mid-to-long-range lidar and AC2 integrating multiple sensing technologies, expanding the company's market into robotics and consumer sectors [2]

Core Viewpoint - The report from Guotai Junan Securities maintains an "overweight" rating for SUTENG JUCHUANG (02498), raising the target price to HKD 43.36, highlighting the company's active exploration in the pan-robotics and Robotaxi, Robovan market applications, with impressive order progress and strong performance in the third quarter [1]. Group 1 - The EM platform has successfully facilitated the acquisition of laser radar for passenger vehicles, with a continuous expansion of customer coverage. The company recently secured two significant contracts, including one with a major new energy vehicle manufacturer and another with a leading global SUV and pickup truck manufacturer for new model contracts. Additionally, the company obtained a three-year exclusive contract for a new pure electric model from Japan's largest automaker and a Chinese joint venture brand [2]. Group 2 - The Robotaxi business is expected to see a trend of multiple laser radars per vehicle. The company announced a new generation model contract with Didi, providing an EM4+E1 combination solution for all-around perception with ten laser radars per vehicle, aimed at creating a new benchmark model for autonomous driving with all-weather operational capabilities. Collaborations have also been established with well-known companies in the industry, including Pony.ai, WeRide, and leading L4 companies in Silicon Valley [3]. Group 3 - In the third quarter, the company delivered 35,500 laser radars for the pan-robotics sector, showing a significant year-on-year increase. In the unmanned delivery field, SUTENG JUCHUANG has become the preferred perception solution for several unmanned delivery developers, including JD.com, Meituan, New Stoneware, Nine Senses, WeRide, Cainiao, and Coco. The EMX+E1R product combination has become a solution for urban distribution. Recently, the company launched new products, Fairy and AC2, with Fairy being a high-precision mid-to-long-range digital laser radar already applied in New Stoneware's unmanned vehicle X3, and AC2 integrating dTOF, RGB stereo, and IMU into one sensor, facilitating the company's entry into the robotics and consumer markets [3].

Core Viewpoint - Robosense signals a strong turnaround potential with a focus on achieving profitability in Q4 2024, as indicated by CEO Qiu Chunchao during the Q3 earnings call [2]. Financial Performance - In Q3 2024, Robosense reported total revenue of approximately 407 million RMB, a slight decrease of 0.2% compared to 408 million RMB in the same period of 2023 [2]. - The company aims to achieve profitability in Q4 2024, highlighting confidence in future performance despite a challenging Q3 [2]. Product Development and Market Strategy - The company has been preparing for mass production of digital lidar, having launched five products this year and secured numerous orders [2]. - In October, Robosense achieved a record shipment of 120,000 lidar units, with expectations for higher shipment levels in the remaining months of Q4 [2]. Strategic Partnerships - Robosense announced a significant partnership with Didi Autonomous Driving for a new generation of Robotaxi models, indicating a trend towards using 8 to 10 lidar units per vehicle [3]. - The company has also secured lidar contracts with Leap Motor and Great Wall Motors, previously clients of competitor Hesai Technology, marking a strategic gain in market share [3][5]. Technological Advancements - Robosense emphasizes its technological edge in digital lidar, which operates on single-photon avalanche diode (SPAD) technology, allowing for direct digital signal output [5]. - The company contrasts digital lidar with analog lidar, suggesting that digital lidar offers superior efficiency in data processing and decision-making [5]. Future Growth Potential - The global Robotaxi market, projected to be worth hundreds of billions, is expected to drive demand for Robosense's digital lidar solutions, providing significant growth opportunities [6]. - The company is exploring additional growth avenues, including partnerships with overseas and joint venture brands, as well as potential in logistics and robotic applications [6].

Core Viewpoint - Robosense has signaled a strong turnaround since its IPO, aiming for profitability in Q4 2023, as stated by CEO Qiu Chunchao during the Q3 earnings call [1]. Financial Performance - In Q3 2023, Robosense reported total revenue of approximately 407 million RMB, a slight decrease of 0.2% compared to 408 million RMB in the same period of 2024 [1]. - The company is focusing on improving its performance in Q4, with a goal of achieving profitability [1]. Product Development and Market Strategy - Robosense has been preparing for mass production of digital lidar, having launched five products this year and receiving numerous orders [1]. - In October, the company achieved a record shipment of 120,000 lidar units, with expectations for higher shipment levels in the remaining months of Q4 [1]. Strategic Partnerships - On November 24, Robosense announced a significant partnership with Didi Autonomous Driving for a new generation of Robotaxi models, indicating a trend towards using 8 to 10 digital lidar units per vehicle [2]. - The company also secured lidar contracts with Leap Motor and Great Wall Motors, previously clients of competitor Hesai Technology, marking a significant competitive breakthrough [2]. Technological Advancements - Robosense is positioned as a leader in digital lidar technology, utilizing single-photon avalanche diode (SPAD) technology for direct digital signal output, which is seen as superior to traditional analog lidar systems [4]. - The company emphasizes the efficiency of digital lidar compared to analog systems, likening the former to "climbing a mountain by helicopter" versus "taking a cable car" for the latter [7]. Future Growth Potential - The company anticipates continued growth driven by the expanding global Robotaxi market, projected to reach hundreds of billions of dollars [7]. - Robosense is exploring additional growth avenues, including partnerships with overseas and joint venture brands, as well as potential in logistics and robotic applications [7].

Core Insights - SUTENG JUCHUANG Technology Co., Ltd. reported significant growth in laser radar sales and improved financial performance for the nine months ending September 30, 2025, highlighting a strong business momentum across multiple sectors [2][3] Sales Performance - In Q3 2025, total laser radar sales reached 185,600 units, a year-on-year increase of 34% and a quarter-on-quarter increase of 17.3%, marking two consecutive quarters of growth [2] - For the nine months ending September 30, 2025, total laser radar sales amounted to 452,400 units, up 18.5% year-on-year, with ADAS application sales at 370,600 units and robot-related sales at 81,800 units, reflecting growth rates of 1.3% and 408.1% respectively [2] Financial Performance - Total revenue for the first three quarters of 2025 was CNY 1.19 billion, a year-on-year increase of 4.8%, with gross profit reaching CNY 301 million, up 77% year-on-year [3] - Gross margin improved to 25.2%, an increase of 10.2 percentage points compared to the same period in 2024 [3] - Net loss for the first three quarters narrowed to CNY 249 million, a reduction of 29.1% from the previous year [3] Market Position in ADAS - The company has secured 144 mass production orders from 32 automotive manufacturers and suppliers, with 47 models already achieving SOP [4] - The EM digital laser radar platform launched in April 2025 has gained recognition, securing orders for 56 models from 13 automakers, including 36 models from a leading global EV manufacturer [4] Growth in Robotaxi and Robotics - The transition from mechanical to digital laser radar is becoming a trend, with the "EM4+E1" combination being adopted as the industry standard [4] - The company has established mass production partnerships with over 90% of leading L4 autonomous driving companies, including Didi and Baidu [4] Robotics Business Expansion - The robotics segment has seen explosive growth, serving over 3,400 global clients, with significant partnerships in the lawn mowing and urban delivery sectors [5] - The company achieved a milestone of producing its one-millionth automotive-grade solid-state laser radar, showcasing its scalable production capabilities [5] Strategic Focus for 2025 - 2025 is a pivotal year for the company as it transitions from laser radar to a robotics technology platform, with digital products entering large-scale delivery [6] - The company aims to achieve profitability in Q4 2025 and is focused on core areas such as chips, algorithms, and digital architecture to support its growth trajectory [6]

Core Insights - The latest financial report from Sutech Jun Chuang indicates a revenue of 407 million yuan for Q3 2025, representing a year-on-year decrease of 0.2% [1] - Revenue from products amounted to 387 million yuan, with 245 million yuan generated from ADAS products and 142 million yuan from robotics and other sectors [1] - The solutions segment contributed 11.945 million yuan in revenue, while services and other areas added 8.028 million yuan [1] - The adjusted net loss for Sutech Jun Chuang was 64.573 million yuan, which is a 7% year-on-year reduction [1]

Core Insights - SUTENG JUCHUANG (02498.HK) reported strong sales growth in Q3 2025, with expectations of profitability in Q4 2025 [1] - The company has secured multiple overseas and joint venture brand projects, with total orders exceeding one million units [1] - The robotics sector has shown explosive growth, contributing significantly to revenue [1][2] Financial Performance - Total revenue for Q3 2025 was approximately 407 million yuan, with over 100% year-on-year growth in overseas markets [1] - Gross profit for the same period was around 97 million yuan, reflecting a year-on-year increase of approximately 36.8% [1] - Total sales volume reached 185,600 units, with the robotics sector experiencing a 393.1% year-on-year increase in sales [1] Product Development - SUTENG JUCHUANG has developed the industry's only mass-producible digital LiDAR matrix, including models such as EM4 and EMX [2] - The company has secured contracts with 32 automakers for 144 vehicle models, with significant orders from leading electric vehicle manufacturers [2] - The EM4 model is recognized as the only mass-producible ultra-500 line digital LiDAR, already applied in several vehicle models [2] Market Position - Over 90% of global RoboTaxi and RoboTruck players have partnered with SUTENG JUCHUANG, including major companies like Didi Autonomous Driving and Baidu [3] - The company has established collaborations with 90% of leading players in the unmanned delivery robot sector [3] - SUTENG JUCHUANG's digital LiDAR deliveries surpassed 120,000 units in October, setting a new monthly delivery record [3]