DBS raises the target price of ROBOSENSE to 50 yuan, with second-quarter performance exceeding expectations

AASTOCKS
2025.08.27 07:49

The DBS research report indicates that ROBOSENSE (02498.HK) achieved better-than-expected performance in the second quarter, with a gross margin of 28%, surpassing the target of 25%, mainly benefiting from the mass production of the MX series and cost control measures. Additionally, the management's attitude has become more optimistic and reiterated the goal of achieving breakeven in the second half of 2025.

The bank believes that growth drivers for 2026 include mass production of the EM platform, expansion of BYD-related businesses, acquiring new customers, and orders for robotics business. Based on the upward revision of gross margin forecasts, the earnings forecasts for 2025 and 2026 have been raised by 22% and 16%, respectively; maintaining a "Buy" rating, with the target price raised from 45 yuan to 50 yuan

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