Goldman Sachs released a research report stating that it maintains a "Buy" rating for Siasun Robot&Automation-W (09660), with a Target Price of 6.1 HKD.
The report states that Siasun Robot&Automation launched the new generation "Journey 6" series, with solutions covering a wide range of computing power from 10 TOPS to 560 TOPS, aiming to first mass-produce 80-128 TOPS J6E/J6M in 2025, followed by J6P/J6B in 2026.
The "Journey 6" series products will be launched in April 2024, with potential customers reaching 10 (SAIC, Peking Autos (01958), Li Auto-W (02015), GAC, etc.). Goldman Sachs expects that the revenue contribution from this series of products will begin starting in 2025. It is anticipated that J6E/J6M will start shipping to original equipment manufacturers in 2025, while the 560 TOPS J6P will gradually increase in 2026, driving the revenue contribution of the J6 series to as high as 3%/15% in 2025/2026.
