消息面上，速腾聚创公布第二季度及中期业绩报告。财报显示，公司本季度实现营收约4.6亿元，同比 增长24.4%，环比增长38.9%。其中，机器人业务呈现爆发式增长，产品销量达34,400台，同比劲增 631.9%。此外，公司产品毛利率从2024年第一季度的12.3%提升至2025年第二季度的27.7%，连续6个季 度环比上升。 智通财经APP获悉，速腾聚创(02498)绩后涨超8%，截至发稿，涨7.48%，报37.08港元，成交额3.83亿港 元。 公告显示，速腾聚创的激光雷达总销量在第二季度达15.82万台，同比增长28.6%，环比增长45.7%。其 中，ADAS领域交付12.38万台，同比增长4.6%，环比增长28%，EM系列产品在半年内斩获了来自8家主 机厂的45个车型定点，全球首家量产520线激光雷达；机器人及其他领域销量飙升至3.44万台，同比暴 涨631.9%，对比第一季度环比增长也达到了189.1%。第二季度机器人赛道加速爆发，为速腾聚创带来 了约1.5亿元营收，环比增长100.7%。 ...

Investment Rating - The report maintains a "Buy" rating for the company [3] Core Views - The company is expected to achieve revenue of 22.2 billion, 34.3 billion, and 50.0 billion yuan for the years 2025, 2026, and 2027 respectively, with a projected net profit of -276 million, 29 million, and 411 million yuan for the same years [3] - The current stock price corresponds to a PS valuation of 6.9, 4.5, and 3.1 times for the years 2025, 2026, and 2027 respectively [3] Revenue and Profit Analysis - The company is projected to have a revenue growth rate of 111.22% in 2023, followed by 47.20% in 2024, and a steady growth rate in subsequent years [8] - The net profit is expected to improve significantly from -4.34 billion in 2023 to 411 million in 2027, indicating a strong recovery trajectory [8] - The gross profit margin is anticipated to increase from -7.4% in 2023 to 29.4% in 2027, reflecting improved operational efficiency [11] Quarterly Performance - In Q2 2025, the company reported a revenue of 4.55 billion yuan, representing a year-over-year increase of 24.4% [9] - The total shipment of laser radars reached 158,000 units in Q2 2025, with a year-over-year growth of 28.6% [9] - The adjusted net loss for Q2 2025 was 240 million yuan, a reduction of 79.9% compared to the previous year [9] Segment Performance - The ADAS segment generated revenue of 2.71 billion yuan in Q2 2025, accounting for 59.6% of total revenue, despite a year-over-year decline of 10.5% [9] - The Robotics segment saw a significant revenue increase of 285.2% year-over-year, reaching 1.47 billion yuan in Q2 2025 [9] - The Solutions segment also performed well, with a revenue increase of 46.1% year-over-year, achieving 300 million yuan in Q2 2025 [9] Cost Management - Operating expenses (OpEx) were optimized, with a year-over-year decrease of 3.0% in Q2 2025 [9] - The company demonstrated strong cost control capabilities, with sales, management, and R&D expense ratios improving compared to the previous year [9]

Summary of the Conference Call for SUTENG JUCHUANG Company Overview - **Company**: SUTENG JUCHUANG - **Industry**: LiDAR technology and robotics Key Financial Performance - **Q2 2025 Revenue**: RMB 455 million, up 24.4% YoY and 38.9% QoQ [3] - **Total LiDAR Sales**: 158,200 units in Q2, up 28.6% YoY and 45.7% QoQ [3] - **Gross Margin**: Increased to 27.7%, marking the sixth consecutive quarter of growth [4] - **Net Loss**: Reduced by 63.6% YoY and 49.6% QoQ [4] Product Developments - **Launch of e Platform**: The first all-solid-state digital LiDAR platform, with the first product "Ivan" in mass production [2][5] - **EM Platform**: Long-range LiDAR platform expected to enter mass production in Q3 2025, with significant model adoption [2][5] - **Active Camera (AC)**: New product line aimed at enhancing robotic perception capabilities, with the second model "AC Two" set to launch in H2 2025 [3][12] Market Trends and Predictions - **LiDAR Technology Competition**: The core technology competition is shifting towards chip technology, indicating a future focus on chip development [2][6] - **Digital LiDAR Features**: Integration of chip transceiver systems and echo feature recognition into SPAD SoC chips to improve performance in adverse weather conditions [7] - **Growth in Non-Automotive Business**: Significant growth in non-automotive sectors, with partnerships established in industrial warehousing and autonomous delivery [10][11] Sales and Market Penetration - **Automotive Sector**: Achieved 1 million units of vehicle-mounted LiDAR delivered, with 133 models adopted globally [9] - **Robotaxi Market**: Strong demand for high-performance LiDAR in the robotaxi sector, with significant partnerships established [25][26] - **Sales in Robotics**: Revenue from robotics and other applications surged by 180.8% YoY, reaching RMB 220.7 million [15] Cost and Profitability - **Sales Cost**: Decreased by 7.7% YoY due to lower raw material costs [18] - **Gross Profit**: Increased by 106% YoY, with a gross margin of 25.9% [18] - **R&D and Marketing Expenses**: Slight decrease in R&D expenses by 1.5%, while marketing expenses remained stable [19][20] Strategic Insights - **Competitive Landscape**: EMX product is positioned as a leading solution in the L2 market, with significant performance and cost advantages over competitors [22][23] - **Future Outlook**: Anticipation of increased market share in the robotaxi segment and continued innovation in chip technology to maintain competitive edge [26][27] Conclusion SUTENG JUCHUANG is experiencing robust growth in both automotive and non-automotive sectors, driven by innovative product launches and strategic partnerships. The company is well-positioned to capitalize on the evolving LiDAR technology landscape and the increasing demand for advanced robotics solutions.

8月21日，速腾聚创公布2025年中期业绩报告。财报显示，公司第二季度实现营收4.55亿元，同比增长 24.4%，环比增长38.9%。其中，机器人产品销量达34400台，同比增631.9%。 ...

于2025年上半年，该集团的激光雷达产品、用于ADAS应用的激光雷达产品及用于机器人及其他的激光 雷达产品的销量分别约为26.68万台、22.05万台及4.63万台，比较2024年同期分别增加9.6%、减少6.0% 及增加420.2%。其中，该集团第二季度的激光雷达产品、用于ADAS应用的激光雷达产品及用于机器人 及其他的激光雷达产品的销量分别约为15.82万台、12.38万台及3.44万台，同比分别增加28.6%、4.6%及 631.9%。 截至2025年6月30日，该集团已成功取得30家汽车整车厂及增加至一级供应商的119款车型的量产定点订 单，并为其中14家客户的44款车型实现SOP。截至本公告日期，该集团的量产定点车型数量已进一步增 加至133款。其中，8个定点订单来自海外整车厂及中外合资整车厂，覆盖日本、北美及欧洲市场。 智通财经APP讯，速腾聚创(02498)公布2025年中期业绩，收入约7.83亿元，同比增长7.72%;毛利约2.03 亿元，同比增长106.12%;毛利率由2024年同期的13.6%大幅提升至25.9%;公司拥有人应占亏损约1.51亿 元，同比收窄43.91%。 公告称，收入同比 ...

格隆汇8月21日丨速腾聚创(02498.HK)公告，截至2025年6月30日止六个月，公司的总收入为人民币 783.2百万元，较2024年同期的人民币727.1百万元增加7.7%。同比增加主要是由于2025年上半年产品销 售增加。 公司于2025年上半年录得的毛利为人民币203.1百万元，较2024年同期的人民币98.6百万元增加约 106.1%。因此，2025年上半年的毛利率由2024年同期的13.6%大幅提升至25.9%。2025年上半年，净亏 损为人民币148.6百万元，较2024年同期的人民币267.5百万元减少44.5%。 截至2025年6月30日，公司已成功取得30家汽车整车厂及增加至一级供应商的119款车型的量产定点订 单，并为其中14家客户的44款车型实现SOP。截至本公告日期，公司的量产定点车型数量已进一步增加 至133款。其中，8个定点订单来自海外整车厂及中外合资整车厂，覆盖日本、北美及欧洲市场。 ...

Core Insights - The company reported a revenue of approximately 783 million yuan for the first half of 2025, representing a year-on-year increase of 7.72% [1] - Gross profit reached about 203 million yuan, with a significant year-on-year growth of 106.12%, leading to an improved gross margin of 25.9% compared to 13.6% in the same period of 2024 [1] - The loss attributable to shareholders narrowed to approximately 151 million yuan, a reduction of 43.91% year-on-year [1] Revenue and Profitability - The increase in revenue was primarily driven by higher product sales in the first half of 2025 [1] - The overall growth in gross margin was mainly due to a substantial increase in the gross margins of lidar products used for ADAS applications and other robotic lidar products [1] Sales Performance - In the first half of 2025, the sales volumes of the company's lidar products were approximately 266,800 units for general lidar, 220,500 units for ADAS applications, and 46,300 units for robotic and other lidar products, reflecting a year-on-year increase of 9.6%, a decrease of 6.0%, and an increase of 420.2% respectively [1] - In the second quarter, the sales volumes for lidar products were approximately 158,200 units for general lidar, 123,800 units for ADAS applications, and 34,400 units for robotic and other lidar products, showing year-on-year increases of 28.6%, 4.6%, and 631.9% respectively [1] Market Position and Orders - As of June 30, 2025, the company successfully secured mass production orders from 30 automotive manufacturers for 119 models, with the number of mass production designated models increasing to 133 [2] - Among these, 8 orders came from overseas manufacturers covering markets in Japan, North America, and Europe [2] - Since the launch of the EM digital lidar platform in April 2025, the company has obtained mass production orders for EM lidar products from 8 automotive manufacturers for a total of 45 models, including a leading global electric vehicle manufacturer that awarded mass production orders for 32 models [2]

智通财经APP获悉，8月21日，速腾聚创(02498)公布2025年第二季度及中期业绩报告。财报显示，公司 本季度实现营收约4.6亿元，同比增长24.4%，环比增长38.9%。其中，机器人业务呈现爆发式增长，产 品销量达34,400台，同比劲增631.9%，成为驱动业绩的核心引擎。 速腾聚创产品毛利率从2024年第一季度的12.3%提升至2025年第二季度的27.7%，连续6个季度环比上 升，凸显技术自主带来的经营效率优势。 速腾聚创的激光雷达总销量在第二季度达15.82万台，同比增长28.6%，环比增长45.7%。其中，ADAS 领域交付12.38万台，同比增长4.6%，环比增长28%，EM系列产品在半年内斩获了来自8家主机厂的45 个车型定点，全球首家量产520线激光雷达；机器人及其他领域销量飙升至3.44万台，同比暴涨 631.9%，对比第一季度环比增长也达到了189.1%。第二季度机器人赛道加速爆发，为速腾聚创带来了 约1.5亿元营收，环比增长100.7%，速腾聚创以"机器人之眼"赋能产业，为后续增长奠定基础。 速腾聚创凭借数字化激光雷达的技术、自研芯片及规模量产交付的优势，在车载业务、Robotax ...

8月21日，速腾聚创(02498)公布2025年第二季度及中期业绩报告。财报显示，公司本季度实现营收约4.6 亿元，同比增长24.4%，环比增长38.9%。其中，机器人业务呈现爆发式增长，产品销量达34,400台，同 比劲增631.9%，成为驱动业绩的核心引擎。 速腾聚创凭借数字化激光雷达的技术、自研芯片及规模量产交付的优势，在车载业务、Robotaxi业务、 机器人业务上表现亮眼，同时通过Active Camera平台及AI-Ready生态赋能具身机器人，为AI机器人产 业创造长期价值。 速腾聚创产品毛利率从2024年第一季度的12.3%提升至2025年第二季度的27.7%，连续6个季度环比上 升，凸显技术自主带来的经营效率优势。 速腾聚创的激光雷达总销量在第二季度达15.82万台，同比增长28.6%，环比增长45.7%。其中，ADAS 领域交付12.38万台，同比增长4.6%，环比增长28%，EM系列产品在半年内斩获了来自8家主机厂的45 个车型定点，全球首家量产520线激光雷达；机器人及其他领域销量飙升至3.44万台，同比暴涨 631.9%，对比第一季度环比增长也达到了189.1%。第二季度机器人赛道加 ...

ROBOSENSE TECHNOLOGY CO., LTD （於開曼群島註冊成立的有限公司） 速騰聚創科技有限公司 （股份代號：2498） 截至2025年6月30日止六個月的中期業績公告 董事會欣然公佈本集團截至2025年6月30日止六個月的未經審核合併中期業績，連同2024年相 應期間的比較數字。本集團截至2025年6月30日止六個月的中期簡明合併財務報表（「中期財務 資料」）已由本公司根據國際會計準則第34號「中期財務報告」編製。中期財務資料未經審核，惟 已由本公司獨立核數師羅兵咸永道會計師事務所根據國際審計與鑒證準則理事會頒佈的國際 審閱委聘準則第2410號「由實體的獨立核數師執行中期財務資料審閱」進行審閱。中期財務資 料亦已由本公司審核委員會審閱。該等中期業績乃摘錄自中期財務資料。 運營亮點及近期發展 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發 表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承 擔任何責任。 1 • 截至2025年6月30日止第二季度，本集團的激光雷達產品、用於ADAS應用的激光雷達產 ...