Shares of Seten Innovation (02498) rose more than 11%, as of press time, up 11.2% at HKD 82.4, with a turnover of HKD 10,859,300.
According to the Intelligence Finance App, shares of Seten Innovation (02498) rose more than 11%, as of press time, up 11.2% at HKD 82.4, with a turnover of HKD 10,859,300.
On the news front, on June 11, Seten Innovation was included in the Hong Kong Stock Connect. In the first quarter of this year, the total sales volume of the company's lidar products was about 120,400 units, a year-on-year increase of 457.4%. Among them, the sales volume of ADAS lidar was 116,000 units, a year-on-year increase of 542%. As of May 17, the company has obtained mass production orders for 71 models of 22 automobile manufacturers and Tier1, and has secured deals with Zhiji Auto and Xpeng for new models this year.
Sealand Securities' research reports pointed out that the company leads the industry in terms of revenue, mass production delivery, and cost control; self-developed chip solutions are expected to continuously improve cost reduction capabilities, and with the expansion of business scale, expense ratios are expected to decline rapidly. The bank believes that the company has high growth potential and is expected to fully benefit from the surge of smart autos and the increase of penetration rate of autonomous driving. It is rated as "shareholding" for the first time.