Shares of SEYOND (HKEX: 02665) opened sharply higher, gaining nearly 7% at the start of trading.
The stock was up 6.86% at HK$3.27 by the time of reporting, with a turnover of HK$2.0045 million.
The significant move follows the company's recent announcement regarding its second-quarter performance.
For the period, the company's total shipments of lidar products reached approximately 271,100 units, representing a year-on-year increase of around 385% and a sequential quarterly growth of about 49%.
Within this total, shipments of the Falcon series accounted for roughly 77,800 units, up approximately 55% year-on-year and 19% quarter-on-quarter.
Shipments of the Sparrow series reached about 191,600 units, surging by roughly 3,209% compared to the same period last year and increasing 66% from the previous quarter.
Analysts note that the company maintains a deep strategic partnership with Nio, serving as its exclusive supplier, with business from Nio constituting 86% of its revenue from January to May 2025, forming the core of its operations.
Concurrently, the firm is actively pursuing new customer relationships.
It has successfully secured designated supplier agreements with several automakers, including Leapmotor, GAC Group, and SAIC Motor.
Most of these collaborative projects are anticipated to enter the delivery phase between late 2025 and 2026, which is expected to reduce reliance on any single client and potentially increase market share.
Regarding production capacity, the company's total annual output is projected to reach 2.2 million units by the end of 2026, doubling from 2025 levels.
This expansion in scale is anticipated to enhance cost-reduction effects through economies of scale.
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