2月19日，《每日经济新闻》记者从速腾聚创(02498.HK)官方获悉，公司于2025年第四季度首次实现单 季度盈利，且盈利不少于人民币6000万元。 官方数据显示，2025年，速腾聚创机器人领域激光雷达销量突破30.3万台，同比增长超11倍。2025年第 四季度，速腾聚创总销量达45.96万台，其中机器人应用达22.12万台，与ADAS业务基本持平。 ...

Group 1 - The company SUTENG JUCHUANG has announced a profit forecast, expecting to achieve its first quarterly profit in Q4 2025, with profits not less than RMB 60 million [1] - In 2025, the sales volume of laser radars in the robotics sector is projected to exceed 303,000 units, representing a year-on-year increase of over 1100% [1] - The total sales volume in Q4 2025 is expected to reach 459,600 units, with 221,200 units attributed to robotics applications, which is roughly on par with the ADAS business [1]

Group 1 - The company expects a significant reduction in net loss attributable to shareholders for 2025, projected to be no more than 180 million yuan, compared to an estimated net loss of approximately 481.8 million yuan for 2024 [1] - The improvement in the estimated loss is primarily due to the continued growth in sales of lidar products in the fiscal year 2025, as well as net gains from financial assets measured at fair value [1] - The company anticipates achieving a quarterly net profit of no less than 60 million yuan in the fourth quarter of fiscal year 2025 [1]

Core Viewpoint - SUTENG JUCHUANG (02498.HK) is expected to achieve its first quarterly profit in Q4 2025, with profits projected to be no less than RMB 60 million [1] Group 1: Financial Performance - The company anticipates a significant increase in sales, with laser radar sales in the robotics sector expected to exceed 303,000 units in 2025, representing a year-on-year growth of over 1100% [1] - Total sales for Q4 are projected to reach 459,600 units, with sales from robotics applications at 221,200 units, nearly equal to the ADAS business [1] Group 2: Partnerships and Collaborations - In the humanoid robotics sector, SUTENG JUCHUANG has established partnerships with over 20 key clients, including YUSHU Technology, ZHIYUAN Robotics, and GALAXY General [1]

Group 1 - The core viewpoint of the article indicates that the company, Sutech Juchuang (02498.HK), expects a significant reduction in net loss for the fiscal year 2025, projecting it to be no more than RMB 180 million compared to a net loss of RMB 481.8 million for the year ending December 31, 2024 [1] Group 2 - The anticipated net loss for fiscal year 2025 represents a substantial improvement, indicating a positive trend in the company's financial performance [1]

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） 盈利預告 本公告乃由速騰聚創科技有限公司（「本公司」，連同其附屬公司統稱「本集團」）根據香港聯合 交易所有限公司證券上市規則（「上市規則」）第13.09(2)(a)條及香港法例第571章證券及期貨條 例第XIVA部項下的內幕消息條文而作出。 本公司董事會（「董事會」）謹此知會股東（「股東」）及本公司潛在投資者，根據董事會目前可得 之本集團初步資料（包括但不限於本集團截至2025年12月31日止年度（「 2025財年」）的未經審 核綜合管理賬目），股東於2025財年應佔本集團淨虧損與截至2024年12月31日止年度的人民幣 481.8百萬元比較，預期將大幅收窄至不多於人民幣180.0百萬元。 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。 本公司正在落實本集團於2025財年的業績。上述估計虧損金額僅基於董事會目前可 ...

Group 1 - The report assigns a "Outperform" rating to the company, with a target price of HKD 43.1 [1] Group 2 - The core viewpoint of the report indicates that the company is approaching a turning point, benefiting from the accelerated growth in optical radar installations and increased penetration in the high-level autonomous driving sector [1] - The report anticipates that the company's EM digital radar products will be the main driver of sales this year [1] - Additionally, the company is strengthening its positioning in the autonomous lawn mower and driverless van markets [1] - The report projects that the company will reach breakeven by the fourth quarter of 2025 [1]

Investment Rating - The report assigns a "BUY" rating to RoboSense (02498.HK) with a target price of HK$ 48.50 per share [2][7]. Core Insights - RoboSense reported strong Q4 2025 operating metrics, achieving breakeven in the quarter due to significant increases in LiDAR shipments for both ADAS and robotics [3][7]. - The robotics segment, particularly lawn mower robots, was a key driver of growth, supported by product upgrades and new customer additions [4]. - Demand for new digital LiDAR products, EMX and EM4, is expected to exceed expectations, contributing significantly to revenue in 2026 [5]. - Technological advancements showcased at CES, including a Delivery Assistant robot, highlight RoboSense's innovation capabilities [6]. - The upward revision of sales volume forecasts and revenue assumptions reflects stronger-than-expected demand, leading to improved gross margin forecasts [7]. Financial Overview - For 2025, RoboSense is projected to generate revenue of RMB 2,019.6 million, with a gross profit of RMB 557.9 million and a gross margin of 27.6% [8]. - The company anticipates a significant increase in revenue to RMB 4,002.8 million by 2026, with a gross profit of RMB 1,142.1 million [8]. - The financial metrics indicate a path to profitability, with net profit expected to turn positive by 2026, reaching RMB 221.6 million [8].

Investment Rating - The report assigns a "Buy" rating to the company with a target price of HK$ 48.50 [2][5]. Core Insights - The company achieved a breakeven point in Q4 2025, driven by strong operational performance, with ADAS lidar sales reaching 238,400 units (up 54.8% year-on-year) and robotic lidar sales soaring to 221,200 units (up 2,565.1% year-on-year) [2][5]. - The growth in robotic lidar sales is primarily attributed to the demand for lawnmower robots, with expectations for continued growth due to product upgrades and new customer acquisitions [3]. - The new digital lidar products EMX (192 lines) and EM4 (>500 lines) are expected to become major revenue sources in 2026, gradually replacing older models [4]. - The company showcased advanced technology at CES, including a delivery robot capable of performing nearly 20 complex tasks, enhancing its product matrix with new lidar products [5]. Financial Summary - Revenue projections for the company are as follows: RMB 1,648.9 million for 2024, RMB 2,019.6 million for 2025, RMB 4,002.8 million for 2026, and RMB 5,147.3 million for 2027, reflecting a growth rate of 47.2% in 2024 and 22.5% in 2025 [13]. - Gross profit is expected to increase from RMB 283.6 million in 2024 to RMB 1,445.4 million in 2027, with gross margins improving from 17.2% to 28.1% over the same period [13]. - The company anticipates a net profit of RMB 221.6 million in 2026 and RMB 421.9 million in 2027, following a loss of RMB 481.8 million in 2024 and a reduced loss of RMB 239.2 million in 2025 [6][13].

Core Viewpoint - The report from Citi indicates that SUTENG JUCHUANG (02498) is approaching a turning point, benefiting from the accelerated growth in optical radar installations and the increasing penetration of high-level autonomous driving, with an initial "Outperform" rating and a target price of HKD 43.1 [1] Group 1 - Citi expects that SUTENG JUCHUANG's EM digital radar products will be the main driver of sales this year [1] - The company is also strengthening its layout in autonomous lawn mowers and driverless vans [1] - The firm anticipates that the company will reach breakeven by the fourth quarter of 2025 [1]