速腾聚创系列五-中报点评：单二季度收入同比增长24%，在手订单充沛【国信汽车】

Core Viewpoint - The company, RoboSense, is positioned as a leading player in the laser radar and perception solutions market, focusing on becoming a global leader in robotic technology platforms, driven by AI innovations and advanced hardware solutions [24][26]. Industry Insights - The market for laser radar is expanding rapidly, with significant growth in applications for Advanced Driver Assistance Systems (ADAS) and robotics, indicating a robust demand for innovative solutions [5][49]. - The company has achieved a milestone of producing its one millionth vehicle-mounted laser radar, reinforcing its leadership in the global automotive market [49]. Company Performance - In Q2 2025, the company reported a revenue of 455 million yuan, marking a year-on-year increase of 24.1% and a quarter-on-quarter increase of 38.9% [10]. - The gross margin for Q2 2025 was 27.70%, reflecting a year-on-year increase of 13 percentage points and a quarter-on-quarter increase of 4 basis points [4][18]. - The company’s net profit for Q2 2025 was -51 million yuan, an improvement from -100 million yuan in Q1 2025 and -137 million yuan in Q2 2024 [10]. Product Development - The company launched its first all-solid-state digital E platform product, E1, which has entered mass production, and introduced the EM platform for long-range laser radar [30]. - RoboSense has developed a digital product matrix and new robotic vision products, including the Active Camera, which integrates laser radar and traditional camera information to enhance robotic vision capabilities [32][35]. Client and Market Expansion - The company has secured orders from 30 automotive manufacturers for 119 models, with 133 models confirmed for mass production, including significant orders from international clients [6][49]. - In the robotics sector, RoboSense has established partnerships with over 20 robotic companies, enhancing its presence in the global market [46]. Future Outlook - The company aims to continue focusing on innovations in AI algorithms and hardware technology, reinforcing its competitive edge in the ADAS and robotics industries, and striving to create long-term market value and social benefits [58].