The acceleration of industrialization for service and humanoid robots, coupled with an explosion in demand for multi-scenario intelligent applications, is driving a shift for LiDAR from being a premium feature in smart vehicles towards becoming a standard core component in the robotics field. ROBOSENSE (02498) released its financial results for the fourth quarter and full year of 2025 on March 25, delivering a report card that significantly exceeded expectations and demonstrated a marked improvement in operational quality and efficiency, confirming the company's long-term high-growth potential amidst the intelligent transformation of the LiDAR industry.
The financial report shows that ROBOSENSE achieved revenue of approximately RMB 19.41 billion in 2025, a year-on-year increase of 17.7%. Gross profit reached RMB 5.14 billion, surging 81.3% compared to the previous year. The overall gross profit margin improved from 17.2% in 2024 to 26.5% in 2025. In the fourth quarter of 2025, the company reported revenue of about RMB 7.51 billion, up 46.1% year-on-year. Gross profit was approximately RMB 2.14 billion, an increase of 87.9%, with the quarterly gross profit margin further rising to 28.5%. The quarter saw an operating profit of roughly RMB 1.3 billion and a net profit of about RMB 1.04 billion, successfully achieving a turnaround and marking the company's first profitable quarter in its history.
Buoyed by the strong results, ROBOSENSE's stock price opened nearly 5% higher in early trading on March 26 and surged over 9% intraday. On March 27, the stock price continued its upward trend, closing at HKD 34.04, a gain of 4.42%. Notably, this better-than-expected profitability attracted interviews from leading international financial media outlets, with questions focusing on the explosive growth of the robotics business and progress on innovative robotics products, indicating that domestic and international capital is reassessing the company's growth thesis.
In terms of product sales, the financial report indicates that the company's total LiDAR sales volume for full-year 2025 was approximately 912,000 units, a 67.6% year-on-year increase. This consisted of 609,000 units for ADAS automotive LiDAR, up 17.2%, and 303,000 units for robotics and other fields, which skyrocketed by 1141.8%. In the fourth quarter of 2025, total LiDAR sales reached 459,600 units, a 183.2% increase. ADAS automotive LiDAR sales were 238,400 units, growing 54.8%, while robotics and other fields LiDAR sales were 221,200 units, an explosive increase of 2565.1%.
In 2025, ROBOSENSE's robotics business revenue surged to RMB 7.10 billion from RMB 1.99 billion, a 257.7% year-on-year increase. Fourth-quarter revenue from this segment was RMB 3.47 billion, accounting for 46.2% of total revenue and establishing it as the core growth driver for the company. This rapid volume expansion stems from large-scale deployment across multiple scenarios, with the company's technical strength and product innovation capabilities gaining full industry recognition.
In the commercial cleaning and sanitation robot sector, the company has deep collaborations with leading enterprises. In the lawn-mowing robot field, it has strong partnerships with key clients, advancing the rollout of customized products. In the humanoid and quadruped robot sectors, ROBOSENSE has established cooperation with nearly 50 companies, assisting clients in achieving mass production of their flagship products.
Data from multiple third-party research institutions shows that the company not only leads in 3D LiDAR sales within China's robotics sector but also ranks first in five specific segments globally, solidifying its industry position. In January 2026, at the International Consumer Electronics Show (CES), the company's humanoid robot successfully debuted, equipped with its "true robotic eye" sensors and dexterous hands, capable of performing tasks without remote control.
With the industrialization of service and humanoid robots advancing, demand for LiDAR continues to expand. The company is well-positioned to further consolidate its market standing and reshape the competitive landscape, leveraging its scaled production capacity and advantages in product-scenario adaptation.
It is important to note that ROBOSENSE's "volume and profit simultaneous growth" performance results from the combined effect of three factors: production scale, technological cost reduction, and business structure optimization, providing a solid foundation for long-term profit sustainability.
On the production side, the company has established an annual LiDAR production capacity of 4 million units, supporting the large-scale deployment of its digital LiDAR products. Standardized module design has optimized supply chain efficiency, and the ongoing release of mass production scale effects has led to steadily declining unit costs, directly driving the improvement in overall gross margin.
In research and development, the company's self-developed chips have been widely adopted in ADAS products, gradually replacing externally sourced chips and reducing hardware costs. This has pushed the gross margin of the ADAS product line from 13.4% in 2024 to 19.1% in 2025, and further to 22% in the fourth quarter of 2025, becoming a significant contributor to gross profit growth.
Regarding business structure optimization, the revenue contribution from the high-margin robotics business increased from 12% in 2024 to 36.6% in 2025. With a gross margin of 37.3%, higher than the company's average, the increasing share of this business continues to lift overall profitability. These factors collectively support the strong sustainability of the company's profits.
As the "ballast" for the company's development, the automotive business continues to expand while stabilizing the foundation, forming a "twin-engine" growth model alongside the robotics business. In the fourth quarter of 2025, the company secured projects from three major automakers. By the end of 2025, it had accumulated projects for 163 vehicle models from 34 automakers and Tier-1 suppliers, with 57 models already in mass production and delivery, continuously validating its scaled delivery capability and deepening customer partnerships.
According to industry data, the company held a market share exceeding 70% among LiDAR suppliers for joint-venture automotive brands in 2025. Furthermore, reports suggest that prices for digital LiDAR are expected to stabilize, with industry competition shifting focus from cost reduction to penetration rate increase, moving the automotive business into a new phase centered on scale expansion.
Strong product competitiveness underpins project wins. The company's digital LiDAR excels in core metrics, meeting the perception requirements for high-level autonomous driving and solidifying the technical foundation for customer cooperation and mass production delivery.
Building on this, overseas deployment is fully realized, with globalization transitioning from order backlog to revenue realization. The company has coverage in core automotive markets across Asia-Pacific, Europe, and North America, securing projects. By the end of 2025, it had projects from 14 overseas and Sino-foreign joint venture brands, with cumulative overseas orders exceeding 1 million units. Leveraging local teams to optimize product compliance with overseas regulations and standards, overseas business revenue accelerated, increasing over 90% year-on-year in 2025.
As of March 25, 2026, the company's mass production projects had further increased, with a significant portion being international, indicating solid progress in global layout and the further opening of long-term growth space.
The year 2025 was pivotal for ROBOSENSE, marking an operational turnaround and value re-rating. The company transitioned from a phase of continuous investment into a new stage characterized by high-quality profit realization and robust growth momentum. Its business structure shifted from being "automotive-focused" to a "twin-engine" drive of automotive and robotics, exploring a differentiated development path for the industry.
According to several foreign media reports, ROBOSENSE's new robotics vision product category is scheduled for mass production by the end of this year, with a new generation product also planned for release simultaneously. The company stated that over the next three to five years, this new category has the potential to become a product line rivaling or even surpassing LiDAR.
Long-term, the company aims to strengthen its self-developed chip and digital architecture capabilities centered on LiDAR, stabilize its automotive foundation, expand its robotics advantage, and gradually upgrade from a hardware supplier to a comprehensive solutions provider. With the simultaneous development of the autonomous driving and robotics industries, demand in the LiDAR sector still has significant room for growth. The gradual rollout of innovative businesses like the new vision category will further expand ROBOSENSE's long-term development boundaries in the era of physical AI.
ROBOSENSE has established a strong foundation in profitability, production capacity, and customer base. The synergistic advantages of scaled capacity, technological barriers, and the twin-engine business structure position the company to continually realize its growth value through business expansion and profit enhancement.
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