BUZZ-HK-listed RoboSense hits 7-1/2-month peak on robust earnings outlook

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BUZZ-HK-listed RoboSense hits 7-1/2-month peak on robust earnings outlook

Reuters02-25

** Shares of RoboSense Technology Co Ltd 2498.HK jump 8.5% to HK$53.5, their highest since July 4, 2024, and on course for a third straight session of gains

** Chinese developer and producer of light detection and ranging (LiDAR) products says it expects its 2024 revenue to jump 45.5%-49.1% y/y to 1.63 bln-1.67 bln yuan ($224.7 mln-$230.2 mln) as sales of its LiDAR products increased

** Expects 2024 net loss to amount to 430 mln-520 mln yuan, a reduction of 88%-90.1% as gross margin of its LiDAR products improved

** The Hang Seng Tech Index .HSTECH adds 0.1%, while the Hang Seng Commerce & Industry Index .HSNC slips 0.7% and the Hang Seng Index .HSI eases 0.6%

** Stock up 70.5% YTD

($1 = 7.2549 Chinese yuan)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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