Reported on August 15, 2024 RoboSense (2498.HK)a provider of AI-driven robotics technology, its INTERIM RESULTS FOR 2024. Some operational highlights and recent developments are presented below.
In the first half of 2024, RoboSense’s total sales reached 727 million RMBwhich represents an increase of around 121,0 % compared to the previous year. The overall gross margin was 13,6 %which represents an increase of around 9.7 percentage points compared to the same period in 2023.
As of June 30, 2024, RoboSense’s cumulative LiDAR sales volume is approximately 583,500 units achieved, with LiDAR for ADAS approximately 518,300 units.
For the six months ended June 30, 2024, RoboSense sales volume of LiDAR products, LiDAR products for ADAS applications and LiDAR products for robotics and others were approximately 243,400, 234,500 and 8,900 units, respectively, an increase of 415.7%, 487.7% and 21.9% respectively compared to the same period in 2023.
RoboSense expects that the demand for LiDAR products in the global market will increase significantly, taking into account the forecasts for automobile sales in China and the global market. To take advantage of this opportunity, RoboSense launched two new products in the first half of this year, namely the extremely cost-effective one MX and the high performance M3.
LiDAR for ADAS applications in the automotive industry is the first market where RoboSense’s products have reached mass production volumes, and this is just the beginning. RoboSense believes that more industries similar to the automotive industry will gradually emerge in the global robotics technology market. In addition to the gradual expansion of the scope and size of the robotics market, with the rapid progress in Large Model AI and Embodied AI, there will be a shift towards unmanned intelligent robotics in traditional industries and exponential growth potential for demand for robotics in new consumer markets. Therefore, 3D perception sensors such as LiDARs are expected to experience significant growth as a core component of robotics. To date, the RoboSense product platform has a total of more than 2,400 customers in robotics and other business areas.
As a provider of AI-driven robotics solutions, we will continue to invest significantly in three technology areas, namely AI algorithms, chips and hardware. RoboSense will continue to be a key player in the automotive and robotics industries, offering other diversified products and solutions to the markets alongside LiDARs.
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