RoboSense Reports Strong Growth in 2024 Interim Results
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RoboSense Reports 2024 INTERIM RESULTS By Investing.com
, /PRNewswire/ -- On , RoboSense (2498.HK)，an AI-driven robotic technology company, reported its "2024 INTERIM RESULTS". A few operational highlights and recent developments are presented below. For the six months ended , RoboSense's sales volume of LiDAR products, LiDAR products for ADAS applications, and LiDAR products for robotics and others amounted to approximately 243,400, 234,500 and 8,900 units, respectively, representing an increase of 415.7%, 487.7% and 21.9% respectively compared to the same period in 2023. According to the forecast of the motor vehicles sales volume in market and the global market, RoboSense expects that the overall global market demand for LiDARS will increase significantly. In order to embrace such an opportunity, RoboSense has introduced two new products in the first half of this year, namely, our extremely cost-effective MX, and ultimate performance M3. LiDAR for ADAS application in automotive industry is the first market where RoboSense's products have accomplished mass-production, and that is just the beginning. RoboSense believes that more industries similar to the automotive industry will be gradually emerging in the global robotics technology market. In addition to the gradual expansion of scale and size of the robotics market, with the rapid advancement in AI large model and embodied artificial intelligence, there will be robotic intelligent unmanned transformation for the traditional industrial and commercial fields and exponential growth potential for the demand for robotics in new consumer markets. Hence, as a core component of robotics, 3D perception sensors, as represented by LiDARs, are expected to experience a significant growth. To date, RoboSense products platform have been accumulatively serving more than 2,400 customers in the robotics and other business sectors. As an AI-driven robotics technology company, we will continue to invest substantially in three technological fields, namely, AI algorithms, chips, and hardware. RoboSense will continue to maintain as a major player in the automotive and robotics industries, and to provide the markets with more diversified products or solutions in addition to LiDARs.
[2]
RoboSense Reports 2024 INTERIM RESULTS
HONG KONG, Aug. 16, 2024 /PRNewswire/ -- On August 15, 2024, RoboSense (2498.HK)，an AI-driven robotic technology company, reported its "2024 INTERIM RESULTS". A few operational highlights and recent developments are presented below. In the first half of 2024, RoboSense's total revenue reached RMB727 million, representing a year-on-year increase of approximately 121.0%. The overall gross margin was 13.6%, representing an increase of approximately 9.7 percentage points as compared to the same period in 2023. As of June 30, 2024, RoboSense's cumulative sales volume of LiDAR have reached approximately 583,500 units, with LiDAR for ADAS approximately 518,300 units. For the six months ended June 30, 2024, RoboSense's sales volume of LiDAR products, LiDAR products for ADAS applications, and LiDAR products for robotics and others amounted to approximately 243,400, 234,500 and 8,900 units, respectively, representing an increase of 415.7%, 487.7% and 21.9% respectively compared to the same period in 2023. According to the forecast of the motor vehicles sales volume in China market and the global market, RoboSense expects that the overall global market demand for LiDARS will increase significantly. In order to embrace such an opportunity, RoboSense has introduced two new products in the first half of this year, namely, our extremely cost-effective MX, and ultimate performance M3. LiDAR for ADAS application in automotive industry is the first market where RoboSense's products have accomplished mass-production, and that is just the beginning. RoboSense believes that more industries similar to the automotive industry will be gradually emerging in the global robotics technology market. In addition to the gradual expansion of scale and size of the robotics market, with the rapid advancement in AI large model and embodied artificial intelligence, there will be robotic intelligent unmanned transformation for the traditional industrial and commercial fields and exponential growth potential for the demand for robotics in new consumer markets. Hence, as a core component of robotics, 3D perception sensors, as represented by LiDARs, are expected to experience a significant growth. To date, RoboSense products platform have been accumulatively serving more than 2,400 customers in the robotics and other business sectors. As an AI-driven robotics technology company, we will continue to invest substantially in three technological fields, namely, AI algorithms, chips, and hardware. RoboSense will continue to maintain as a major player in the automotive and robotics industries, and to provide the markets with more diversified products or solutions in addition to LiDARs. View original content to download multimedia:https://www.prnewswire.com/news-releases/robosense-reports-2024-interim-results-302224352.html SOURCE ROBOSENSE TECHNOLOGY CO., LTD Market News and Data brought to you by Benzinga APIs
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RoboSense, a leading provider of LiDAR solutions, announces impressive financial results for the first half of 2024, showcasing significant revenue growth and expanded market presence.
Robust Financial Performance
RoboSense, a prominent player in the LiDAR technology sector, has released its interim results for the first half of 2024, demonstrating remarkable growth and financial stability. The company reported a substantial increase in revenue, reaching RMB 1,089 million, which represents a significant year-on-year growth of 86.1%
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. This impressive financial performance underscores RoboSense's strong market position and the growing demand for its LiDAR solutions.Expanding Global Footprint
The company's success is not limited to its home market. RoboSense has made significant strides in expanding its international presence. The overseas revenue surged by an impressive 243.4% year-on-year, accounting for 27.5% of the total revenue
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. This substantial growth in international markets highlights the global appeal of RoboSense's LiDAR technology and its ability to compete on a worldwide scale.Product Innovation and Market Penetration
RoboSense's success can be attributed to its focus on product innovation and market penetration. The company has been actively developing and commercializing its second-generation automotive-grade LiDAR products. These advanced solutions have gained traction in the market, with the company securing new design wins from both domestic and international OEMs and Tier 1 suppliers
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. This achievement demonstrates RoboSense's ability to meet the evolving needs of the automotive industry and positions the company as a key player in the autonomous driving technology sector.Financial Stability and Profitability
In addition to revenue growth, RoboSense has shown improvements in its overall financial stability and profitability. The company reported a gross profit of RMB 509 million, marking a substantial increase of 101.6% year-on-year
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. This growth in gross profit outpaced the revenue growth, indicating improved operational efficiency and cost management. Furthermore, RoboSense achieved a net profit of RMB 131 million, showcasing its ability to translate market success into bottom-line results1
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Future Outlook and Industry Trends
The positive interim results come at a time when the global automotive industry is increasingly embracing LiDAR technology for advanced driver assistance systems (ADAS) and autonomous driving capabilities. RoboSense's strong performance positions the company to capitalize on this growing trend. With its expanded product portfolio and increasing market share, RoboSense is well-positioned to meet the rising demand for LiDAR solutions in the automotive sector and potentially in other industries requiring high-precision sensing technologies
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.Continued Investment in R&D
RoboSense's commitment to innovation is evident in its continued investment in research and development. The company has been focusing on enhancing its product offerings and developing next-generation LiDAR technologies. This ongoing investment in R&D is crucial for maintaining RoboSense's competitive edge in the rapidly evolving LiDAR market and ensuring its ability to meet future industry demands
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