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Soochow Securities: Maintaining a "buy" rating on Speeden Technology (02498) with third-quarter performance exceeding market expectations.
Suten surpasses market expectations in performance.
Suten Juchuang rose more than 8% in early trading, with a year-on-year increase in revenue of 91.51% in the first three quarters.
Suteng Juchuang (02498) opened over 7% higher this morning. As of the time of writing, the stock price has risen by 8.48%, trading at 20.35 Hong Kong dollars, with a transaction volume of 0.117 billion Hong Kong dollars. Suteng Juchuang has announced its unaudited financial performance for the 9 months ending September 30, 2024.
[Brokerage Focus] Haitong Int'l maintains an outperform rating on Sutrang Juchuang (02498), indicating that its products targeting low stock price models are expected to enhance lidar penetration.
Jingu Financial News | Haitong Int'l issued a research report, Speeden Technology (02498) achieved revenue of 1.135 billion yuan in the first three quarters, +91.5% year-on-year; gross profit of 0.17 billion yuan, +375.4% year-on-year, gross margin of 15.0%, +8.93pcts year-on-year; net loss attributable to equity holders of 0.351 billion yuan, reduced loss by 69% year-on-year, net margin of -31%, +169.49pcts year-on-year. Among them, the revenue in 3Q24 reached 0.408 billion yuan, +54.7%/11.4% year-on-year/quarter-on-quarter; gross profit of 0.071 billion yuan, +210.2%/31.7% year-on-year/quarter-on-quarter, gross margin of 17.5%.
Hong Kong stock market morning report on December 2: Funds have inflowed into U.S. stock funds for four consecutive weeks; electric vehicle companies' sales for November have been released.
①President-elect Trump met with Canadian Prime Minister Trudeau. ②The USA plans to impose tariffs of up to 271% on imported cecep solar energy from four Southeast Asian countries. ③Last Friday, the three major stock indexes in the USA collectively rose, with most china concept stocks trending higher. ④USA stocks fund attracted 12.78 billion US dollars, receiving inflows for the fourth consecutive week. ⑤BYD, XPeng Motors, and NIO released their November sales figures.
Siasun Robot & Automation: Sales volume increased by 259.6% in the first three quarters, and the shipment volume in the robot field is expected to exceed six figures | Direct hit earnings conference
①The increment of MX will account for approximately 30% to 40% of next year's shipment volume, depending on the specific sales situation of each customer's various models next year; ②Juchuang of Sagitar is expected to have a significant increase in revenue in the direction of robotaxi; ③Overseas customers' models are expected to gradually achieve mass production and delivery in 2026 and beyond. It is expected that the shipment volume in the field of robotics next year will break through six figures.
Siasun Robot&Automation (2498.HK) Q3 financial report: in-vehicle + robot targeted eruption, dexterous hand debut, sales growth of 259.6% in the first three quarters.
Financial summary • In the first three quarters, total revenue was approximately 1.13 billion yuan, a year-on-year increase of 91.5%, exceeding the full-year revenue of 2023. • In the first three quarters, total sales of lidar reached 381,900 units, a year-on-year increase of 259.6%; among them, sales of lidar products for ADAS applications were 365,800 units, a year-on-year increase of 292.9%; sales of lidar products for siasun robot&automation and other applications were 16,100 units, a year-on-year increase of 22.9%; as of the end of the third quarter, historical cumulative total sales of lidar surpassed 720,000 units. • Gross profit in the first three quarters was approximately 0.17 billion yuan, a year-on-year increase of 375.
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