Di Yi Cai Jing·2025-08-21 15:55Core Viewpoint - The laser radar business is increasingly shifting from Advanced Driver Assistance Systems (ADAS) to robotics, with significant growth in the latter segment as evidenced by recent financial reports from leading companies in the industry [1][2]. Group 1: Financial Performance - SUTENG's laser radar sales for ADAS reached 123,800 units in Q2 2025, but the year-on-year growth was only 4.6%. In contrast, sales for robotics and other applications surged to 34,400 units, reflecting a year-on-year growth of 631.9% [1]. - Revenue from robotics and other businesses amounted to 147 million yuan, accounting for 54% of SUTENG's ADAS revenue [1]. - Hesai Technology reported ADAS deliveries of 303,600 units in Q2 2025, a year-on-year increase of 275.8%, while robotics laser radar deliveries reached 48,500 units, with a year-on-year growth of 743.6% [1]. Group 2: Market Trends - The global market for robotic lawn mowers is substantial, with millions of units expected to be sold, primarily targeting overseas markets [2]. - SUTENG has secured a significant order of 1.2 million units over three years for robotic lawn mowers in collaboration with Kuka Technology [2]. - The company is also partnering with major delivery platforms in North America and China to expand its presence in the unmanned delivery sector [2]. Group 3: Future Projections - Both SUTENG and Hesai Technology anticipate continued growth in the robotics sector, with SUTENG projecting laser radar shipments for robotics to reach six figures this year [3]. - The expected surge in demand for robotic laser radars is anticipated to occur in the second half of the year, particularly in Q4, driven by the upcoming sales season for robotic lawn mowers [3]. - The gross margin for laser radars used in robotics is currently high, with SUTENG reporting a margin of 41.5% for robotics products compared to 19.4% for ADAS [3].