BRIEF: Robosense’sloss narrows sharply on strong revenue gains
Light detection and ranging (LiDAR) technology manufacturer Robosense Technology Co. Ltd. (2498.HK) said on Monday it expects to report its revenue last year rose to between 1.63 billion yuan ($225 million) and 1.67 billion yuan, up between 45.5% and 49.1%. Meanwhile, its annual loss narrowed sharply to between 430 million yuan and 520 million yuan, marking a 90.1% to 88.0% improvement over 2023.
The company attributed the strong revenue growth to a more than doubling of its LiDAR units sold to 544,200 units. The narrowing loss owed partly to the company’s growing economies of scale, which resulted in significant improvement in its gross margin. Other factors behind the improving bottom line included a reduction in share-based compensation, and a significant decrease in fair value changes in financial instruments issued to investors.
Robosense shares opened down by 6% at HK$45.90 on Tuesday, but quickly reversed course and were up 5.4% in afternoon trade. But the shares are still down over 60% from their high last year.
By Lau Chi Hang
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