MINIEYE (02431) L4 business revenue surged by 4.5 times on a month-on-month basis, reinforcing growth expectations. The intelligent driving "potential stock" is poised to enter the realization period.

In the secondary market, the scarce and gradually advancing full-stack self-developed autonomous driving "potential stock" MINIEYE (02431) has entered a new stage of accelerating the realization of its growth expectations. According to MINIEYE's latest financial report, the company's total revenue in 2025 increased by 16% year-on-year to 759 million yuan; achieving a gross profit of 141 million yuan, with a gross profit margin of 18.6%, an increase of 2.6 percentage points year-on-year. While the logic of scale expansion steadily materializes, more noteworthy is that MINIEYE's L4 business also achieved a breakthrough during the period. After successfully achieving a breakthrough from 0 to 1 in the first half of 2025, MINIEYE's L4 business continued to thrive in the second half of the year, ultimately delivering performance that exceeded expectations. Data shows that the company's revenue from unmanned vehicles and operation services increased by about 4.5 times compared to the first half of the year. On the same day, MINIEYE voluntarily announced a cooperation intention with the intelligent driving company neueHCT (established by Horizon Robotics and Omey Group), announcing the establishment of a joint company to integrate technology, capital, and market resources and focus on the mobile Siasun Robot&Automation field. They aim to create a full-scenario product system covering "indoor-park-city-open road", with unmanned logistics vehicles as a strategic pivot, extending to multiple scenarios such as Siasun Robot&Automation for delivery, forming a full-chain solution from research and development to global delivery. This cooperation will help the company deepen its intelligent logistics business layout, expand its overseas market map, accelerate the commercialization of technological achievements, and further enhance its competitiveness in the global intelligent driving and intelligent logistics market. Looking at the capital market, MINIEYE can be said to be the only listed company that has achieved the advancement from L2 to L4 in autonomous driving capability and completed commercial verification at scale. For MINIEYE, which has reached a turning point in commercialization, its growth certainty has been greatly increased. With the accelerated realization of MINIEYE's growth expectations, market perception of the company's value is expected to undergo a major transformation. The explosive growth of the L4 business strengthens the foundation for MINIEYE's growth Looking at MINIEYE's latest financial report, GMTEight believes that this can be initially characterized as a "futuristic" financial report. In March of this year,...