Summary of Robosense Investor Meeting Company Overview - Company: Robosense (2498.HK) - Industry: LiDAR and Advanced Driver Assistance Systems (ADAS) Key Points Industry Trends - LiDAR Adoption: Management anticipates an increase in China's LiDAR adoption rate to 20% in 2025 from 15% in 2024 [1][2] - Regulatory Changes: Enhanced ADAS safety standards are being implemented: - The Ministry of Industry and Information Technology (MIIT) has mandated Advanced Emergency Braking Systems (AEB) for passenger vehicles, effective January 1, 2028 [2] - New safety requirements for Combined Driving Assistance Systems are expected to take effect on January 1, 2026 [2] Financial Performance - Gross Margin: Robosense achieved a 28% total gross margin and a 19% gross margin for ADAS LiDAR in 2Q25. Management believes a sustainable gross margin of 20%-25% is achievable [2][5] - Net Loss: The company reported a net loss of RMB 133 million in 2Q25 and aims for quarterly/full-year break-even by 4Q25/2026 [5] Product Development - New Product Launch: Robosense launched the affordable ADAS product EMX in April 2025, securing design wins with 40+ vehicle models [1][5] - Future Products: The EM4 product targets Level 3 autonomous driving with a detection range of 600 meters and is set to be equipped on the Zeekr 9X, which has received 42,000 pre-orders within one hour of its pre-launch event [5] Strategic Partnerships - Robotics Collaboration: Robosense has partnered with Mammotion for lawnmower robotics, securing an order for 1.2 million units of E1R LiDAR over the next three years [5] Cost Management - Cost Reduction: Management expects a 20% cost reduction driven by higher sales volume and scale effects in the upcoming year [5] Research and Development - R&D Team Composition: The R&D team consists of 150 personnel focused on chips, 300 on hardware, and 200 on software [5] Additional Insights - Management's outlook on the ADAS market is optimistic, with a focus on regulatory compliance and product innovation to capture market share in the growing LiDAR segment [1][2][5]
速腾聚创-亚洲领导人会议2025-核心要点：计划在2026年第四季度实现季度全年盈亏平衡