速腾聚创上半年营收超7亿，机器人业务暴增！股价涨超11%

Core Viewpoint - SUTENG JUCHUANG (2498.HK) reported strong financial performance for the first half of 2025, with significant growth in revenue and gross profit, particularly driven by its robotics business [1][3]. Financial Performance - Total revenue for the first half reached RMB 783 million, a year-on-year increase of 7.7% [1] - Gross profit was approximately RMB 203 million, showing a substantial year-on-year growth of 106.12% [1] - In Q2 alone, revenue was about RMB 460 million, reflecting a year-on-year growth of 24.4% and a quarter-on-quarter increase of 38.9% [1] - Overall gross margin improved to 25.9% for the first half, compared to 13.6% in the same period last year [1] - The gross margin for the robotics segment reached 41.5%, significantly contributing to the overall margin improvement [1] Robotics Business Growth - The robotics segment experienced explosive growth, with revenue for the first half reaching RMB 220.7 million, a year-on-year increase of 184.8% [3] - Laser radar sales for robotics and other fields reached 34,400 units in Q2, a staggering year-on-year increase of 631.9% [3] - The gross margin for the robotics business was notably high at 45.0%, well above the company's overall margin [3] Market Position and Partnerships - The company has established a broad presence in various verticals, including industrial warehousing and unmanned delivery, serving over 3,200 global clients [5] - In the lawn mower segment, SUTENG JUCHUANG has secured exclusive partnerships with several top global manufacturers, with order sizes reaching seven figures [5] - In the unmanned delivery sector, the company has formed long-term collaborations with notable firms such as COCO Robotics and major domestic platforms [5] ADAS Business Adjustments - Despite the rapid growth in robotics, the ADAS segment remains a crucial foundation for the company [6] - ADAS laser radar sales totaled 220,500 units, a year-on-year decrease of 6.0%, with revenue declining by 17.9% to RMB 500.3 million [6] - The decline was attributed to product cycle adjustments with two major automotive clients [6] - However, the gross margin for ADAS improved from 11.2% to 17.4% due to optimized raw material costs and the application of self-developed SOC chips [6] - The company continues to expand its market presence in the ADAS sector, securing 133 model designations, including projects in key markets like Japan, North America, and Europe [6]