On May 28, RoboSense (02498.HK) fell 5.1% in regular trading, trading at HK$31.28/share, with trading volume of HK$25.13 million. The decline followed the company's Q1 earnings release on May 27, which revealed a gross margin contraction that prompted profit-taking after the stock had accumulated gains on prior positive catalysts.

RoboSense reported Q1 revenue of approximately RMB 4.59 billion, up 39.9% year-over-year, with total LiDAR shipments reaching 330,300 units, surging 204.1%. Robot LiDAR sales of 185,500 units soared 1,458.8%, surpassing ADAS business for the first time at 56% of total volume. Net loss narrowed 35.9% to RMB 63.32 million. However, gross margin fell to 21.7% from 23.5% a year earlier, primarily due to higher manufacturing costs from the ramp-up of its next-generation EMX LiDAR product line and reduced capacity utilization in its automotive segment.

Management attributed margin pressure to automotive subsidy withdrawal slowing vehicle demand, new production line upgrades, and commodity inflation, but expressed confidence that proprietary SoC chip deployment would drive margin recovery in coming quarters. The stock had rallied approximately 5% on May 21 after Morgan Stanley included the company in its Global Humanoid Robot Top 100 list.

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