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Lidar has over half of the market share, will Speed Team Juchuang enter the list of HK stock connect? | Jianzhi Research
Speed rise, the "Hong Kong Stock Exchange's first lidar stock" which has been listed for less than half a year, was included in the list of Hong Kong stock throughs standards on June 11, becoming one of the 559 standards. The company's stock price has also recently undergone significant fluctuations. As of June 11th, 25 companies have been approved to be included in the Hong Kong stock, but the stock performance was different on that day. Among them, the stock prices of enterprises such as Speed Rise, Yuanminghui Alliance, and Tuhu rose, while the stock prices of companies such as Youbao Online and Junshengtai Medicine fell. In the first quarter of this year, the speed rise far exceeded the sales volume of its peers, accounting for more than half of the market share, significantly converged net losses, and continued to grow.
Suteng Juchuang (02498) has been included in the Hong Kong Stock Connect under the Shenzhen-Hong Kong Stock Connect and comes into effect today.
On June 11th, according to the announcement of the Shenzhen Stock Exchange, the list of securities for the Hong Kong stock through the Shenzhen-Hong Kong Stock Connect has been adjusted, with Suteng Juchuang (02498) being added to the list of eligible securities.
HK stocks - Speedy Global Holdings (02498) increased by over 10% to reach a new high this week, with an accumulated rise of over 26%. The company's product sales volume has increased significantly.
According to the Zhītōng Cáijīng app, Suteng Jùchuàng (02498) rose more than 10%, reaching a record high of HKD 79.85. The stock price this week has increased by more than 26%. As of the time of publication, it has risen by 9.28% to HKD 78.9, with a turnover of HKD 1.4183 million, and a total market value of more than HKD 35 billion. In terms of news, Suteng Jùchuàng'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 ADAS lidar sales reached about 116,200 units, a year-on-year increase of 542.0%. The overall gross margin has improved from 8.4% in the full year 2023 to 202.
HKEX News | Speedy-Tech Electronics (02498) has surged by over 4%. In Q1, ADAS sales volume increased sharply by 5 times. The company's production and delivery capacity continue to improve.
Zhicheng Finance and Economics APP learned that Suteng Juchuang (02498) is now up more than 4%, up 4.67% to HKD 65.05 as of press time, with a turnover of 1.8736 million Hong Kong dollars. 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 about 116,200 units, a year-on-year increase of 542.0%. The overall gross margin improved from 8.4% in the full year of 2023 to 12.3% in the first quarter of 2024. Adjusted net losses narrowed by 11.49% year-on-year, and the overall trend is improving.
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Changes in Hong Kong stocks | Sagiteng Juchuang (02498) bucked the market, the biggest increase in the intraday period exceeded 8%, and total sales of lidar products increased by 457.4% in the first quarter
Suteng Juchuang (02498) reversed 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.
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