Understanding the Market | Suteng Juchuang Soars Over 32%, Included in Hang Seng Composite Index, to Release First Quarter Performance Today

Speeding Technology surged more than 32%, up 32.29% as of the time of publication, at HKD 55.1, with a turnover of HKD 2.0143 million. On the news front, on May 17th, the Hang Seng Index Company announced the latest quarterly review results, with Speeding Technology being included in the Hang Seng Composite Index, with the change taking effect from June 11th. It is understood that being selected as a constituent stock of the Hang Seng Composite Index signifies that Speeding Technology has met the eligibility criteria for inclusion in the Stock Connect, which is expected to bring positive effects on the company's stock liquidity and attract more fund inflows in the future. In addition, Speeding Technology will release its first-quarter performance today. It is reported that in the first quarter of this year, the company's sales of LiDAR products for ADAS applications and other LiDAR products for robots and others were approximately 120,400 units, 116,200 units, and 4,200 units, respectively. CITIC Securities previously pointed out that looking ahead to 2024, with the continued release of the company's economies of scale advantages, revenue is expected to maintain high-speed growth, gross margin is expected to continue to rise, operating expense ratio is expected to continue to optimize, absolute amount of net loss and loss rate are expected to significantly narrow, and profitability will continue to improve