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.