West Niu Securities: Reiterates "Buy" rating on Suteng Juchuang (02498.HK) with a target price of 43.50 Hong Kong dollars.

Zhixintong Finance APP learned that West Cow Securities released a research report stating that Suteng Juchuang (02498.HK) is expected to achieve a year-on-year revenue growth of 47.2% in 2024, reaching 1.65 billion RMB, with 93.0% of the revenue coming from sales of laser radar used in ADAS, robots, and other applications. The group's gross profit margin is expected to significantly improve to 17.2% in 2024. The bank adjusted their forecast based on the explosive growth of laser radar used in robots and the changing product mix, and maintained their expectations for the group to achieve breakeven in 2026. Therefore, the bank revised the target price to 43.50 HKD per share and reiterated a "buy" rating.