RoboSense (02498) expects annual income to increase by approximately 45.5% - 49.1% to 1.63 billion - 1.67 billion yuan.

ROBOSENSE (02498) announced that it is expected to achieve revenue of approximately RMB 1.63 billion to RMB 1.67 billion for the year ending December 31, 2024, representing a significant increase of about 45.5% to 49.1% compared to the year ending December 31, 2023. The net loss attributable to owners of the company is expected to be approximately RMB 430 million to RMB 520 million, a significant decrease of about 90.1% to 88.0% compared to the year ending December 31, 2023. The announcement stated that the expected increase in revenue is mainly due to an increase in product sales, especially the number of LiDAR products sold by the group during the reporting period increased to approximately 544,200 units, compared to about 259,600 units in the year ending December 31, 2023. The decrease in loss is mainly attributed to a significant increase in the gross profit margin of LiDAR products used for ADAS applications, a decrease in share-based compensation, and all preferred shares automatically converting to ordinary shares at the time of listing, resulting in a significant decrease in the fair value change of financial instruments issued to investors.