速腾聚创：Product iteration results in an increment in sales volume but a lower ASP

| RESEARCH 26 Aug, 2024 RoboSense (02498.HK) Stock Rating (Previous Rating) BUY (BUY) Target Price (Previous TP) HK$ 19.90 (23.30) Current Price HK$ 11.42 52-Week Range HK$ 11.40 – 137.50 Market cap. (HKD, bn) HK$ 5.1 RMB, mn 23(A) 24(E) 25(E) 26(E) Revenue 1,120.1 2,300.3 3,726.0 4,863.5 Gross Profit 93.6 352.4 687.1 1,090.7 Gross Margin 8.4% 15.3% 18.4% 22.4% Profit Attr. (4,336.6) (473.1) (230.9) 30.8 Performance 1 mth 3 mth 6 mth 1 year Absolute -21.0% -83.0% -68.8% - Relative to HSI -24.5% -77.6 % -74. ...