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【券商聚焦】东吴证券维持速腾聚创(02498)“买入”评级 指其汽车与机器人双线发力

【Brokerage Focus】Soochow maintains a "Buy" rating on Suxun Juchuang (02498), indicating its dual efforts in Autos and Siasun Robot&Automation.

Jingu Financial News ·  Jan 6 06:45  · Ratings

Jinwu Financial News | Soochow's research reports indicate that Suten Juchuang (02498) held the "Hello Robot" 2025 AI Robot Global Launch Conference, fully presenting the company's strategy and achievements in robotics technology platform for the first time. The firm pointed out that the company develops humanoid robot Ontology as a foundation for application development, based on the understanding of embodied robot system needs. Additionally, the company launched new mobile solution products to empower intelligent mobility for Autos and robots.

The firm indicated that the overseas customers for robots have broken through and mass production has been released, which is expected to replicate the growth trajectory of ADAS. In 2024 Q3, the company is expected to gain multiple major domestic and international robot clients, with the number of cooperation partners in the robot field increasing from 2,400 to 2,600. Several new products have already been designated for mass production by leading robot companies, and the company expects that the shipments of robot Lidar will likely exceed six digits by 2025.

The firm believes that the company has initially succeeded in implementing the strategy to reduce the cost of Lidar for car manufacturers to accelerate the release. Looking ahead, the demand for intelligent driving is penetrating into models with large bases, while the company has accumulated high-quality designated projects among leading overseas OEMs, accumulating more momentum for development in 2026 and beyond.

Considering the company's dual focus on Autos and robots, the firm has adjusted the company's expected revenue for 2024-2026 from 1.76/2.86/4.14 billion yuan to 1.79/2.89/4.19 billion yuan. The closing price on January 3, 2025, corresponds to a PS ratio of 3.9/6.3/9.1 times, maintaining a "Buy" rating.

The translation is provided by third-party software.


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