Zhixun Finance APP learned that Suteng Juchuang (02498) rose by more than 10% to a new high of HK$79.85. The stock price has risen by more than 26% this week. As of press time, it rose by 9.28% to HK$78.9, with a turnover of HK$1.4183 million and a total market value exceeding HK$35 billion.

On the news front, Suteng Juchuang's total revenue in the first quarter of this year reached RMB 361 million, a year-on-year increase of 149.1%. Among them, the sales volume of ADAS lidar reached approximately 116,200 units, a year-on-year increase of 542.0%. The overall gross margin further improved from 8.4% for the full year of 2023 to 12.3% for the first quarter of 2024. Adjusted net loss narrowed year-on-year by 11.49%, and the overall trend is positive.

As of May 17, 2024, Sutong Juchuang has successfully obtained mass production orders for 71 models from 22 automobile manufacturers and Tier 1 companies, which is an increase of 9 models compared with the 62 designated models by the end of December 2023. As of the end of the first quarter, it has helped 12 customers achieve mass production and delivery of 25 models.