Robosense Technology (2498) H1 2025 earnings summary

Executive summary

• Revenue for H1 2025 reached RMB783.2 million, up 7.7% year-over-year, driven by strong robotics and other segment sales.

• Gross profit more than doubled to RMB203.1 million, with gross margin improving to 25.9% from 13.6%.

• Net loss for H1 2025 narrowed by 44.5% year-over-year to RMB148.6 million; adjusted net loss (non-IFRS) decreased 43.4% to RMB114.4 million.

• Significant milestones include the production of the 1,000,000th automotive-grade solid-state LiDAR and expansion of design wins to 134 vehicle models, including 8 overseas and joint venture OEMs.

• Robotics business entered a high-growth cycle, with breakthroughs in lawn-mowing robots and unmanned delivery.

Financial highlights

• H1 2025 revenue was RMB783.2 million (+7.7% YoY); gross profit RMB203.1 million (+106.1% YoY); gross margin 25.9% (up from 13.6%).

• Net loss for H1 2025 was RMB148.6 million, a 44.5% reduction from H1 2024; adjusted net loss (non-IFRS) was RMB114.4 million, down 43.4% YoY.

• Cash and cash equivalents as of June 30, 2025 were RMB2,921.3 million.

• Current ratio increased to 492.5% as of June 30, 2025 (from 399.9% at year-end 2024); gearing ratio decreased to 22.2% (from 25.8%).

• R&D expenses were RMB308.7 million, down 1.5% YoY; sales and marketing expenses as % of revenue reduced to 6.7%.

Outlook and guidance

• Mass production of new digital LiDAR products (E1, EM4, E1R, EMX) to accelerate in H2 2025.

• EM-platform expected to capture larger market share in 2026.

• Overseas markets anticipated to contribute revenue within one to three years.

• Shipment of E series LiDAR products projected to reach six figures in 2025.

• Continued investment in core technologies, manufacturing, and supply chain capabilities.