Daiwa has released a research report reiterating its "Buy" rating on ROBOSENSE (02498). Based on the price-to-sales ratio, the firm has raised its 12-month target price from HK$56 to HK$60 and increased its revenue forecasts for this year and next by 8% to 12%. The report also revised the non-ADAS LiDAR shipment forecast for this year upwards from 450,000 units to 746,600 units, and the forecast for 2027 from 650,000 units to 1.2 million units, reflecting the company's solid business progress with Robotaxi operators and unmanned delivery vehicle operators. The report stated that the company, with its SPAD-based 520-line digital LiDAR (EM4) and the industry's first mass-produced solid-state blind spot LiDAR (E1), is in an increasingly favorable position amid the commercial expansion of Level 4 autonomous driving technology. Furthermore, its 520-line LiDAR is gaining increasing popularity among Robotaxi operators and has secured orders for over 200,000 unmanned delivery vehicles.