On Aug.
15, 2498.
HK released its interim results for 2024.
In the first half of 2024, the total revenue of Suiteng Juchuang was 727 million yuan, an increase of about 121.
0 percent over the same period last year, of which the revenue from ADAS lidar products was about 610 million yuan, a substantial increase of 314.
6 percent from about 150 million yuan in the same period in 2023.
While the total revenue is growing rapidly, the gross profit margin of Quteng Juchuang also continues to improve.
In the first half of this year, Suiteng Juchuang achieved a gross profit of 98.
6 million yuan, an increase of about 670.
3% over the same period last year, while the gross profit margin rose sharply to 13.
6% from 3.
9% in the same period in 2023, an increase of nearly 10 percentage points.
The adjusted net loss was about 200 million yuan, down 17% from the same period last year.
Among them, the gross profit of ADAS lidar is 68.
2 million yuan, and the gross profit margin has increased significantly from 35.
5% in the same period in 2023 to 11.
2% in the first half of 2024.
Suteng Juchuang pointed out that the increase in the company’s gross profit margin is mainly due to economies of scale and lower procurement costs of raw materials.
With the continued expansion of the company’s ADAS lidar production scale, it expects the overall gross profit margin to further improve in the second half of this year.
In the first half of the year, the total sales of Suiteng Juchuang lidar was about 243400, close to the annual sales of 2023, a year-on-year increase of 415.7%. of which ADAS lidar sales were about 234500, an increase of about 487.
7% over the same period last year.
and lidar sales for robots were 8900, an increase of 21.
9% over the same period last year.
As of the second quarter, the total historical total sales of Suiteng Juchuang lidar exceeded about 580000.
In the ranking of lidar suppliers’ installed capacity from January to June 2024, Suteng Juchuang continues to lead the list with a market share of 40%.
Suiteng Juchuang believes that the current continuous outbreak of in-vehicle lidar loading is mainly driven by three major factors: first, the demand for L2+ self-driving market continues to grow, and the number of models equipped with lidar has increased significantly.
Especially in the main sales range of cars below 200000 yuan, the demand will gradually be infiltrated.
Second, with the rapid development of L3 + autopilot, the number of lidar configurations for a single model will increase significantly, and in order to meet the driving safety requirements in high-speed scenarios, the performance of forward lidar will also be further upgraded.
drive the average unit price upgrade of lidar products.
third, overseas growth opportunities.
At present, lidar applications are mainly concentrated in the Chinese market, and the high-level autopilot functions of overseas manufacturers will gradually fall to the ground in the next two years, which is expected to lead to a continuous increase in overall global sales of lidar.
In the first half of this year, Suiteng Juchuang further released ultra-long-range lidar M3 and full-stack chip medium-and long-range lidar MX to further improve the product matrix.
Among them, M3 has a detection range of 300m and supports a maximum angular resolution of 0.05o.05 °. The ROI area is equivalent to 500lines.
Its high-resolution mode can achieve a point cloud effect of 1000 lines in the ROI area.
In addition, it can also be used with Suteng Juchuang E platform high-performance blind lidar.
The MX has a detection distance of 200m and an angular resolution of up to 0.
1 °× 0.1 °. It is equipped with a global adjustable ROI function, which makes it possible for vehicles under 200000 to be equipped with high-order intelligent driving functions.
It is reported that as of June 30, 2024, Suteng Juchuang has won mass production orders for 80 models from 22 vehicle factories and Tier1, and has achieved mass production and landing of 29 models for 12 customers.
Among them, in the first half of this year, Suiteng Juchuang added 17 new mass production fixed-point orders, while opening large-scale mass production delivery to 5 new models.
By the end of July, Suteng Juchuang’s new products have been designated by five customers, including SAIC Zhiji and Xiaopeng Motor, and the first designated project will achieve mass production in the first half of 2025.
In the same month, Suiteng Juchuang also added one of the world’s top ten designated customers of overseas car factories.
Source: Suiteng Juchuang, in addition to the vehicle market, Suteng Juchuang lidar also serves more than 2400 customers in robots and other fields, and the applications of various scenarios are landing on a large scale.
it is expected that the group’s shipments in the robot field will increase significantly in the second half of this year, and the single-quarter shipments are expected to approach the total shipments for the whole year of 2023 and maintain a strong growth trend in the future.
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