Suteng Juchuang (02498) announced the results for the year ended December 31, 2023. The group received revenue from the public...
According to the Zhitong Finance App, Suteng Juchuang (02498) announced the results for the year ended December 31, 2023. The group obtained revenue of RMB 1.12 billion (same unit), an increase of 111.22%; R&D expenses of RMB 635 million, an increase of 107.59%; the owner of the company should account for a loss of 4.337 billion yuan, an increase of 107.63% over the previous year; and a loss of 44.67 yuan per share.
During the period, product sales revenue increased by 141.2% from 399 million yuan for the year ended December 31, 2022 to 964 million yuan for the year ended December 31, 2023, mainly due to increased sales of products used in ADAS applications, such as the company's automotive-grade solid-state lidar.
In 2023, the Group's revenue from sales of lidar products for ADAS applications increased from 160 million yuan in 2022 to 777 million yuan, a significant increase of 384.6% over the previous year. The total number of lidar products sold by the company increased from about 57,000 units in 2022 to about 259,600 units in 2023. Sales of lidar products for ADAS applications increased dramatically from about 36,900 units in 2022 to about 243,000 units in 2023. Part of the revenue growth driven by increased sales of products for ADAS applications fell from about 4,300 yuan per unit in 2022 to about 3,200 yuan per unit in 2023 because the company sold more mass-produced lidars in 2023, and the unit price of such lidars was generally lower than the unit price of their respective prototypes; and sales revenue of robots and other products fell from 239 million yuan in 2022 to 186.5 million yuan in 2023, a year-on-year decrease of 22.0%, mainly due to the company's strategic focus on seizing the ADAS market Market opportunities, and production of RS-LiDAR-16 (products for robotics and other applications) will be suspended from December 2022.
Innovation is at the core of the company's corporate culture. The company has invested significant resources in the research and development of lidar technology. The company's lidar products and solutions based on this proprietary technology have been widely recognized by customers for their excellent performance and cost advantages. The company's full-stack integrated software and hardware perception capabilities give the company greater commercial opportunities than companies that only provide lidar hardware products.
Looking forward to the future, the company will use the company's competitive advantage to continue to implement the company's growth strategy, including continuing to invest in core technology and improving product supply, strengthening manufacturing and supply chain capabilities, strengthening and expanding the customer base, and attracting and retaining talents.