Seyond Releases 2025 Annual Report | Inflection Point Emerges: Multi-Engine Growth Unlocks Unlimited Potential of Physical AI

SUNNYVALE, Calif., March 31, 2026 (GLOBE NEWSWIRE) -- On March 31, 2026, Seyond (02665.HK) announced its audited full-year results for 2025. During the reporting period, the company's annual lidar shipments exceeded 332,000 units, representing a year-on-year increase of 45.0%. Along with the rapid expansion of business scale, operational quality also improved significantly: gross profit turned positive from a loss in 2024, with the gross profit margin rising to 7.9%. This milestone marks that, driven by economies of scale, cost optimization, and product structure upgrading, Seyond has entered a new phase of high-quality growth.

Continuous Release of Economies of Scale, Comprehensive Leap in Operational Efficiency

According to International Financial Reporting Standards (IFRS), Seyond's annual revenue reached approximately USD 154 million. Faced with intensifying industry competition and changes in the market environment, the company adhered to refined operations. Relying on the synergistic efforts of product structure optimization, cost reduction through large-scale procurement, and production efficiency upgrades, the total cost of sales in 2025 decreased by 18.2% year-on-year, achieving a crucial breakthrough in turning losses into profits and lifting operational efficiency to a new level.

Driven by both the optimization of revenue structure and the improvement of cost efficiency, Seyond's adjusted net loss (Non-IFRS) narrowed by 24.0%. This indicates that the company's core business is continuously enhancing its "self-hematopoietic capacity," accelerating the transformation from "financing-driven growth" to "operation-driven improvement."

Meanwhile, Seyond's cash and cash equivalents increased by 146% year-on-year in 2025, and its total assets grew by approximately 50% year-on-year. The ample cash flow has built a solid financial safety cushion, and the steadily expanding asset scale has further strengthened its strategic confidence, providing sufficient financial support for the company to continuously increase investment in R&D and innovation, promote capacity expansion, and deepen its global layout.

This impressive performance represents the fulfillment of Seyond's continuous efforts to promote high-quality growth strategies. It not only verifies the advanced nature of the company's product roadmap and the maturity of its commercialization path, but also demonstrates its strong development resilience and long-term growth potential, exploring a replicable and scalable model for the industry's large-scale profitability and high-quality development.

Diversified Product Matrix Takes Shape, Robin & Hummingbird Open New Growth Drivers

2025 was a crucial year for Seyond in achieving product structure iteration and market breakthroughs By leveraging its dual 1550nm and 905nm/940nm technology pathways, Seyond has created a full-domain perception ecosystem， spanning long-range to near-field detection and primary vision to blind-spot coverage， powered by its Falcon, Robin, and Hummingbird product platforms, and designed to meet the diverse needs of global customers.

The Robin platform entered a phase of large-scale mass production, with annual shipments rising from approximately 12,000 units in 2024 to 138,000 units in 2025, an increase of 1050% year-on-year—making it the primary driver of overall shipment growth.

At the same time, Hummingbird, the pure solid state lidar achieved a major breakthrough, securing mass production design wins from several leading automakers, positioning Seyond among the global leaders in the pre-installation of pure solid state lidar for passenger vehicles.

The matrix effect formed by the coordinated efforts of multiple product lines has been fully released, which not only enriches the company's business layout, but also promotes the upgrading of the revenue structure toward diversification and anti-cyclicality, laying a robust foundation for more sustainable high-quality development.

Simultaneous Efforts in "Automotive + Robotics + Infrastructure," Global Layout Blossoms in Multiple Areas

Seyond firmly promotes the diversified scenario layout of "Automotive + Robotics + Infrastructure," achieving multiple breakthroughs worldwide and continuously proving the unlimited potential of lidar as the "core sensor of physical AI."

As the core foundation, the automotive market has continued to expand its customer base and accumulate sufficient order reserves. As of December 31, 2025, Seyond had accumulated fixed-point project orders from 18 automakers and ADAS/ADS companies, covering more than 60 vehicle models. Building on its deepened partnership with NIO, the company has expanded into top-tier automakers such as SAIC Volkswagen and GAC Group, broadening its reach from emerging EV players to traditional automotive leaders and covering both mass-market and premium segments. At the same time, it deeply empowers leading players such as Shaanxi Heavy Duty Automobile, Foton Motor, PlusAI, DeepWay, and Inceptio Technology, providing precise perception support for intelligent heavy-duty trucks and mining trucks. It has also reached in-depth cooperation with Pony.ai, seizing the trillion-level blue ocean of Robotaxi in advance and capturing opportunities for future development.

Seyond has achieved large-scale acceleration in the pan-robotics track, with annual revenue of approximately USD 18.912 million, a substantial year-on-year increase of 130%. Seyond has won large-scale orders from leading enterprises such as Zelos Technology, UISEE Technologies, KUSA Technology, and Zhongli EP Equipment's X-Mover division. From precise distribution in urban logistics, efficient connection at civil aviation airports, to autonomous obstacle avoidance in environmental sanitation scenarios and intelligent handling in industrial sites, Seyond has built core capabilities of precise environmental perception, autonomous obstacle avoidance, and intelligent path planning for various robots, promoting the transformation of robots from pilot verification to large-scale implementation.

In the smart transportation scenario, Seyond's lidar has been deployed and operated on more than 15 major fully automatic subway lines in China, and has achieved substantial breakthroughs overseas. It has reached a strategic cooperation with Swedish ITS infrastructure provider Aventi Sweden, winning an order of nearly USD 2.6 million, and has deployed its independently developed intelligent traffic management platform (SIMPL) at key traffic intersections in Europe.

In the port and ship lock sector, Seyond's lidar solutions have been deployed at scale across applications such as ship lock monitoring, bridge collision avoidance, and port automation, providing a reliable perception foundation for the intelligent upgrade of traditional infrastructure.

Steady performance growth and clear strategic implementation have earned Seyond high recognition from the capital market. On December 10, 2025, Seyond successfully listed on the Hong Kong Stock Exchange; on March 9, 2026, it was smoothly included in the Hang Seng Composite Index and Stock Connect, opening up allocation channels for mainland and global capital, attracting continuous attention from southbound capital, and injecting sufficient capital momentum for future development.

Accelerating into 2026: Multi-Engine Growth Driving Long-Term Value

If 2025 was a year of building a solid foundation and achieving multiple breakthroughs, then 2026 will mark a year of accelerated growth and full-scale momentum for Seyond.

With strong momentum, Seyond's cumulative lidar shipments are set to exceed one million units soon, reinforcing its leading position in the industry.

This confidence stems from Seyond's clear and firm strategic layout:

• Driven by technological innovation: Continuously refine solutions, improve perception capabilities and cost-effectiveness, and further strengthen technological barriers and core product competitiveness.
• Expand global business development capabilities: Strengthen local sales and marketing teams in overseas markets, and deepen collaborative linkage with partners in the global industrial chain.
• Adhere to the three-dimensional development pattern of "diversified products + diversified customers + diversified applications": Continuously expand market boundaries and application scenarios, allowing the "smart eyes" of lidar to illuminate more intelligent scenarios.

As an intelligent perception "translator" connecting the real world and the digital space, Seyond has always focused on long-term value creation, not pursuing short-term brilliance, and adhering to its technological original aspiration and industrial mission. In the future, it will use more advanced perception technology, more comprehensive solutions, and stronger commercialization capabilities to help accelerate the global intelligent industry and create more sustainable and substantial value for shareholders, partners, and the industry.

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