The Zhitong Finance App learned that Suteng Juchuang (02498) rebounded against the market throughout the day, with the biggest intraday increase of over 8%. By the close, Sagitengjuchuang had risen 6.9% to HK$62, with a total market value of nearly HK$28 billion.

According to the news, on May 20, Suteng Juchuang announced its first quarter results. During the period, revenue was 360 million yuan, up 149.1% year on year, of which ADAS product revenue was 310 million yuan, up 327% year on year; the company's gross margin increased by 12.3%, up 16.4 percentage points year on year. The total sales volume of the company's lidar products during the period was about 120,400 units, up 457.4% year on year; sales volume of lidar products used in the ADAS field was about 116,200 units, up 542.0% year on year. In the first quarter of '24, the installed capacity of the company's lidar products exceeded 116,000 units.

First Shanghai released a research report saying that as of May 17, the company had obtained targeted orders for mass production of 71 Tier 1 models from 22 automakers. This year, the company has targeted new models with Zhiji Auto and Xiaopeng Motor. By the end of the first quarter, 25 models from 12 customers had been mass-produced and delivered on a large scale. In addition, MX products received 3 fixed targets upon launch, and will enter large-scale mass production in the first half of '25; demand for long-range measurement will gradually increase, and overseas markets will be actively deployed.