东吴证券指出，公司ADAS出货持续高增，毛利率逐季度提升。此外，公司2024Q3收获多个海内外机器人重点客户，机器人领域合作伙伴由2400家突破至2600家，多款新品已获头部机器人公司量产定点，并有望于18个月内完成交付；公司预计2025年机器人领域出货量有望突破六位数。该行认为公司机器人产品的出货有望在收入及毛利上为公司贡献可观增量。Suteng Juchuang (02498) rose more than 9%. As of press release, it had risen 9.05% to HK$22.9, with a turnover of HK$0.233 billion.
The Zhitong Finance App learned that Suteng Juchuang (02498) rose more than 9%. As of press release, it had risen 9.05% to HK$22.9, with a turnover of HK$0.233 billion.
According to the news, Sagiteng Juchuang recently announced the results for the first nine months ending in September. The group obtained revenue of RMB 1.135 billion, an increase of 91.51% over the previous year, which has exceeded the total revenue for the full year of 2023. The cumulative sales volume of lidars in the first three quarters reached 381,900 units, an increase of 259.6% over the previous year; by the end of the third quarter, the Group's total historical total lidar sales had exceeded 0.72 million units, setting a new industry delivery record. Meanwhile, the Group's gross margin increased quarterly from 12.3% in the first quarter of 2024 to 17.5% in the third quarter of 2024.
Dongwu Securities pointed out that the company's ADAS shipments continued to increase rapidly, and gross margin increased quarterly. In addition, in 2024Q3, the company received many key robotics customers at home and abroad. The number of partners in the robotics field surpassed 2,600. Many new products have already been targeted for mass production by Head Robotics Company and are expected to be delivered within 18 months; the company expects shipments in the robotics sector to exceed six digits in 2025. The bank believes that shipments of the company's robot products are expected to contribute a considerable increase in revenue and gross profit to the company.
It is also worth mentioning that in October of this year, the M-Core SoC chip developed entirely in-house by Sagiteng Juchuang obtained AEC-Q100 automotive-grade reliability certification, making it the first LiDAR SoC chip in the world to pass this certification. As the first next-generation lidar product equipped with an M-Core chip, the ultra-thin medium- and long-range lidar MX, which is the first to achieve full-stack chipization, will be mass-produced and delivered early next year.
