Robosense Technology Co., Ltd ($2498)

Good evening, ladies and gentlemen. Thank you for standing by, and welcome to the First Quarter Results of 2026 Robosense Technology Company Limited Earnings Conference Call. [Operator Instructions]. Please note, this conference is being recorded. I would now like to turn the conference over to Ms. Grace, the Investor Relationship Director. Thank you. Please go ahead.

Thank you, operator. Hello, everyone, and welcome to Robosense Earnings Conference Call for the first quarter of 2026. The company's earnings results was released earlier today and are available on our IR website, www.ir.robosense.i, the website of Hong Kong Stock Exchange, www.hongxchangenews. Hong Kong as well as on News. Today, you will hear from Mr. Kevin Lo, our CFO; and Mr. Johnson, our Deputy CFO, who will take you through the company's operational and financial results for the first quarter of 2026. After their prepared remarks, Kelvin and Johnson will be available to answer your questions. Before we continue, please note that the discussion today may contain certain forward-looking statements, which involve known and unknown risks, uncertainties and other factors which are beyond our control and may cause our actual results, performance or achievements or industry results to be materially different from any future results, performance or achievements exed or implied by the forward-looking statements. In light of risks and uncertainties, the inclusion and the forward-looking statements in this discussion should not be regarded as representation by the Board of Directors or Rob objectives will be achieved and shareholders and investors of the company should not place undue reliance on such statements. RoboSense does not assume any obligation to update any forward-looking statements except as required under applicable law. Also, please note that some of the information to be discussed, including non-IFRS financial measures are not reified present in accordance with IFRS. IFRS financial measure and inform those non-IFRS financial measures to Robosense financial results prepared in accordance with IFRS are included in Robos which has been posted on the company's IR website at www. ww.ir.bos and the website of Hong Kong Stock Exchange, www.hongexchangemews.com. Finally, as a reminder, this conference call is being recorded. In addition, a webcast of this conference call is available on Robalatvestor Relations website. I will now turn the call over Kelvin Lau, CFO.

Thank you, Chris. So Robo delivered a solid start to 2026, posting robust revenue growth while accelerating the industry shift to next-generation digital LiDAR. The company's leadership at the center of AI powering intelligent vehicles and a broad range of robotic ropip2. 30 2%ipbliebbal backlog on hand featured a seasonal pattern of lower sales volume of products for ADAS in the first half of the year and higher shipment of products for ADAS application in the second half of the year. Our overall gross margin dropped slightly to 21.7% in Q1 2023 in Q1 2025, mainly attributable to higher overhead incurred in manufacturing our LiDAR products in the initial stage. However, benefiting from concentrated delivery of automotive vehicles in the second half of the year, market demand in the utilss26lf-de Sorchgthprietary chips. The first one is Phixhoptrignleip and single optical [indiscernible] product. Meanwhile, the [indiscernible] and install within 26noockld's highest resolution larger SoC chips as well as the highest specification mass producible area array chips in the current industry, VGA3Dsroipenc small to kick off large-scale mass production in the third quarter of this year. This in-house SoC chip for the core vertical that will drive leadership for the next global industry shift from traditional analog and mechanical LiDAR architecture to digital LiDAR system. This industry transition raises the overall te,[indiscernible] adoption of L3 and L4 fun over the next few years and mechanical LiDAR solutions fund limited by the hardware resolution and density, making them unable to meet the evolving requirement of high continues to lead the industry's digital transformation anchored by our proprietary chip architecture. The company is scheduled to start the mass production of our new in-house developed perception chip Phoenix and in the second half of the year. With our early technology advantage, [indiscernible] is at the forefront of driving the industry-wide shift towards pure digital LiDAR. We expect gradual gross margin improvement as more product lines migrate to our fully in-house chip solution. Our cost structure will be optimized step by step, supporting steady margin recovery over [indiscernible] sensing solution to our OEM and customers strengthen our long-term product and market positioning amid the rapid evolution of AI driven by new vehicle explosive robotic demand, ongoing chip cost optimizing capacity utilization, [ RoSs-Iutomot ] and robotic strategy, we are well positioned to capture the multiyear growth of the AI market delivering value for shareholders while -- looking forward, Ros remains dedicated to innovation in AI equipment and hardware technologies while continuously reinforcing its leading position in ADAS driving and robotic industry. We are committed to becoming a global leading robotic technology type of company and creating long-term and stable market value and benefits for the industry. Now I would like to turn the call to John.

Thank you, Kelvin. So you've just heard from our CFO, Kelvin, that walk you through our Q1 highlights. Now I wanted to first address some of the key questions I know you guys will ask a lot of the people online also my friends. So I wanted to answer some of the top questions that I know I'll be getting from you guys, let me open the floor for questions. And I also want to set the scene on how one should think about RoboSense going forward. Now first and foremost, RoboSense is a physical AI company, right? Humans receive 80% to 90% of the world through vision. Our LiDAR and next-generation LiDAR camera solutions are the eyes, and we are delivering super human vision to power the physical world of AI. And that is, of course, built upon our in-house SoC that we've already spent 8 years researching and developing. This breakthrough will unlock substantial new TAM across many sectors have actually not explored previously for LiDAR, which will enable us to capture market share from traditional cameras in a wide range of industrial scenarios, including factory automation, human robots, passenger vehicles. Now the market right now is heavily focused on upstream AI infrastructure names as a core investment. and have largely overlooked the booming physical AI segment. And as you can tell from our strong shipment growth, all our business lines are gaining strong momentum and the LiDAR adoption cycle is still in the early stages. It's only a matter of time before the market fully recognizes this tremendous opportunity. Now turning back to our Q1 results. We have very strong top line growth, 40% growth year-over-year, shipment more than 200%. Now simply put, the strategic priority for RoboSense in 2026 is market share expansion. We'll continue to extend our competitive advantage, especially in robotics LiDAR, which is a segment that we see a structurally healthier gross margin of around 30% to 40%. Now we're very happy to announce that we are #1 in market share across many, many robotic runways such as robotic robotaxis, lawn mowers, commercial cleaning, robotocs, mining trucks and many more. And we plan to steadily scale these high-margin businesses to strengthen the overall profitability of our company. Now on the ADAS front, gross margins faced temporary gross margin pressure, and that is a function of a deliberate and strategic product transition that we've undertaken. We're actually proactively driving all our major OEM partners to migrate from legacy analog and mechanical LiDAR to our SA SoC-based solutions, and we've actually made substantial progress so far. Now today, approximately 50% of our ADAS shipments are actually SA-based units. Our first-generation Sat chips are, however, currently sourced externally, which will, however, push up the component cost and weigh on short-term gross margins. Now additionally, we've actually ramped up factory automation to prepare for in-house chip production, and that has also contributed to the year-over-year margin compression. Now that said, we want to reiterate that the current margin pressure is temporary. Our self-developed SA SoC chips will enter mass production in the second half, and this will help us bring notable chip cost reductions. Now even so -- and we have to admit that our ADAS gross margin stayed below 20% in Q1 and is expected to remain below this level for most of 2026. Now as a result, RobosSense will strive to achieve profitability for the full year of 2026. We view these investments as highly value accretive rather than a negative outcome. Onboarding top-tier OEMs onto our SA architecture will actually build lasting customer stickiness, raise switching costs and further fortify our long-term technological moat. We are already in active discussions with OEMs on the next-generation vehicle LiDAR projects and all our partners have expressed to us a clear demand for higher line count products for next year, which will create a distinct technological gap between RoboSense and our peers by 2027. It is clear that our OEM partners are positioning themselves and for our -- it is clear that our OEMs are positioning themselves for higher line count products and our external chip procurement strategy in first half will lead us to a cost headwind. So you can think of us as taking the pain first. Now I know you guys will also ask about our ASP, which fell 55% year-over-year in the first quarter. And I think that is a function of the higher Q1 base from last year, but the pace of decline will moderate as we go towards the second half of the year. And broadly speaking, our ASP decline, even though it's comparable to peers, the underlying causes are fundamentally different. Our ASP compression is actually driven by mainly changes in the product mix and not so much a function of the price competition. First, if you look at our lawn mower LiDAR volume, that was close to 0 in first Q 2025, but that contributed meaningfully to our robotics volume in Q1 2026. Second, we shipped a meaningful amount of our E1 blind spot LiDAR in this quarter. Now these 2 product lines collectively accounted for more than 50% of our Q1 total shipments and that -- and those products carry a lower average selling price compared to our flagship automotive LiDAR products. So with that, I want to open the floor now for questions.

[Operator Instructions].

This is Joey Yang from BOFA Securities. I question regarding ASP. We see a shift towards higher performance products or more premium products overseas or joint venture clients. I was wondering if there is any chance that there will be a potential inflection point for ASP in second half of 2026 or in 2027?

Yes, good question and also a company asked by a [indiscernible] So you aware that okay, LiDar Cast 2 years on the phasing from in gene industry, I think in 2023 the LiDAR like ASP is around RMB 3,000 and then used 20 and then further dropped around 1,000 units in the second half or dividends. But I would tell you I did this type of gas price division or the close long term, okay, posted. What I'd say is because I think if you aversion we are the divesting to cash expenditures, I think the high performance, high entire lives. And the other 1 is, I think the brexit lower lease cut -- as far John mentioned a bit in his remarks, right now, I think we will see the neos of the automate now transition at least we have to high performance and high recent current lives. And this type of trend will become the major midstream in cycle of operation for all those 2 years. I think for highly seller specification going forward be visible at the initiative trend going forward. Of course, this is a high performance, highly recent time either deserve or higher ASP high-price However, I think as we say some of high-delight be press to higher production costs because because our sales team house state citrate other in think most next cost advantages to reduce the tacos. So -- like all those highly being like I think for some term and 720 lease has already going forward, we would have a medium-term competition for all those leaders. Therefore, for all those targets, again, we billing the air space can be status. And also, first, I think we stand update in on those higher laser fee lines. But I think for all those lowering like line. I mean going forward, I think with the increase in the installation and titration of this level based on like we can enter a higher to of scale and further reduce the cost. And then again, we forecast, I think, for this number so that going forward the ASP would visit. So net-net, I would say, the overall ASP for a beating will not really happen again at a 3 to a petrostation even we have it again. This is what we did Yes. So yes.

[Operator Instructions]

This is Cherry Liu from JPMorgan. And also want to congrats on the robust volume and revenue growth, and we're also glad to see a very more balanced product mix in terms of volumes but we do see the blended gross margin dropped basis. I think Jonson already mentioned margin pressure from also. But could you elaborate a bit more on the reasons behind the margin connection.

Thank you, Cherry, for the question. To elaborate, I think there are probably a few reasons and externally sourced chips is only one of the few reasons. First of all, we all know this year's auto market is slower than previous years because of the overdraft in subsidies. So as a result of poor sales on the automotive side, that has actually led to lower utilization rate of our facilities and that actually increased our fixed costs. Second of all, as we are now upgrading to upgrading all our lines to digital LiDAR, we've actually had to put in new pieces of machinery and that actually increased our costs. And until they're fully ramped up, that will also impact our gross margins. Third, we've also seen increase in some of the raw material costs, as you are aware that there is a global commodity inflation that is happening only on certain products. And also our cost reductions with our upstream suppliers in terms of those negotiations have not yet fully been completed, and those negotiations will be completed throughout the year. So -- and of course, the last reason was the externally sourced chip question, which is as we can migrate to more of our in-house SoC chip, that will actually help improve the margin profile of our company in the coming quarters and months once we fully migrate to our in-house.

[Operator Instructions].

This is Kai from Sinofert. My question is about halted. We note that compared with major suppliers such as Sony, 1 of key performance advantages of our in-house by technology and also compared with third-party solutions, how much impact do in-house chips have on product pricing and overall cost structure -- in addition, how is the mass production ramp up from products based on the company's in-house chips, such as Sonix and [indiscernible.

Thank you for your question. Okay. Also to answer your question itself in terms of the core lineages, our share development retail the most number 1 is, I mean, our superior and comprehensive performance of our share repurchase. Again, our elite early helps higher later in life efficient and also to optimize the cost structure, okay? -- is number one. I think it's very poignant PPE that on operations our in-house chip again is the capacity and we are possibly 45% of the PPE, which is well above having the industrial average is very important. I think those 2, I mean another important point of that, I think it's the cost efficiency. So if you compare with, I mean, all those chips, we have the similar chips of our equipment ships we purchased parts, in terms of cost, again, we decided cost by about 20% by half. So I mean it's a very vocally important of the cost efficiency factors we have proceeded. Another advantage of chips is that I say, okay, our chips get support, I think out high the spot again like we mistreat 2020 date. And going forward, our next-generation products and 10 achieve the reason being existing be 4,000 4,000 less this life. The last is a of course, it provide more contacts I mentioned in teen. Tests are all the core as I think we we do focus on because our e-mails provide trip is very important for the future competition in this industry. So in terms of the position same time, we mentioned this before in exchange. Opioids are this, we always can decide mean from some easy OEMs on the market already. and we expect to start it the last position of our pettiness in the second half of this year. Culture is we already are now starting we already achieved the small cash delivery as we mentioned in my remarks and you end in a discussion in Q3 of this year. So you will see the top of high performance customized there's so many have been rain the market. Going forward, we then business there, sort besetting high performance is later to our OEM customer and also our bucket customer will be some captions initial trend moving forward.

[Operator Instructions]. We now invite the participant whose phone number ends in 7131 to ask a question.

Congrats on your strong results. So my question is about your RGBD solution and technology. We see the peers also launched the 6D color products. Could you help us understand and share more details on the difference between your RGBD solution and peers boodcllor approach. Also, you have already established a leading position in B technology. So going forward, what product or pricing strategy will you plan to adopt to strengthen and monetize this advantage?

Thank you for the question. I think you have seen on the media that some of our competitors peers have actually launched similar RGBD camera products, for example, Ouster in the U.S. also launched the product recently. But I think the core difference of our products versus that of others is that, first of all, we have our own in-house SoC chip, right? And that our line count has now reached 2,160 lines and our next-generation product is going to be double that, right, in terms of the line count. Now if you think back to LiDAR, we always communicated our LiDAR be count using lines, right? Now if I was to convert that into resolution of pixels, 120 lines is only 150,000 pixels. So it's actually very, very poor in terms of resolution. But when we get to 2,160 lines, that's actually 4 million pixels. When we get to 4,300 lines, it's going to be 8 million pixels. Now the human eye, the cornea of your eye is actually 6 million to 8 million pixels. So the first time ever, we are able to create a sensor that is better, if not on par with the human eye. So -- and that's why I referred to our LiDAR solution or LiDAR camera solution as the super human vision solution that many people have actually not thought about that LiDAR is capable of doing. So it is definitely going to replace a lot of the camera solutions that are in the market right now. And I want to give you a couple of examples of whether -- where we can deploy these products. First of all, you can think about just an auto itself, right? A typical car can have, let's just say, 1 LiDAR, 12 cameras, 6-millimeter ultrasonic radars. But what if I was to tell you that we can start replacing a lot of the cameras on the cars now by using our LiDAR camera. That in itself is a significant TAM. Second of all, you will also see that there are a lot of scenarios on the industrial side, such as industrial inspection that the LiDAR solution is probably cheaper and more precise versus that of some of the 3D vision solutions that are out there. So this RGB camera or LiDAR camera that we're going to be launching very soon, it's going to be game changing. So I don't want to disclose too many details of our product until it's officially launched, but please be on the lookout for this product.

We now invite the participant whose phone number ends in 4,503.

This is Sara from China Gas International. So my first question is about our chip business. We established the in-house chip strategy back in 2017. Could you please share more what are the key advantages we have observed now? My second question is about the market share. What are the key factors that will help the company continue gaining market share going forward? And how will the company further strengthen its leading position and capture a bigger market share in the future?

Good section. Okay. yes, gas quite a lot of is that you are asking us why we establish our in-house ship development teams have been 2017. At this time factor 2017 I think starting back to 2017, we already realized that, going forward, we want to capture a larger market share in the industry, we have our own self develop in-house chip. Why? First of all, in-house developers semoniplfipsgen our core competitive advantages, okay? We keep on going forward, in terms of let all the competition will focus on the semicon already become a very sophistic [indiscernible] develop chips. And our chips will also constitute another core technical are for those in the future. Second reason is that, in-house develop chips can facilitate the LiDAR performance upgrade. So you can see right now based on our and also our chips, we can achieve LiDAR to laser to 3,160 in the future will go up to more than the accurate. So this is very important for those the efficiency in my last question I also mentioned that the cost of those in-house in terms of cost. So in terms of efficiency we can get more advantage right now those [indiscernible] market chips can develop more robotic in past years, I think we already developed some new products and some [indiscernible] we are holding a leading position in the industry with of, okay, why those pureipipfurer, they don't know how to do LDAnot0quse -- another is to remember that all those OEMs want to ship from one to another, we have to add... So those are terms of the people, some of the investors say, okay, why are these pure chip especially we cannot provide to some of chips for later company a little bit more as a air all those pure chips, manufacture they don't know how to do lines we cannot come out of all those products, which 100% to be the requirement of a supply line company. So I think all this, I think we've got to be light on our in-house gives to support more and lesser portfolio for -- Okay. That's a very important point is you have to remember that for all those OEMs, okay, you look if you want to see a test from 1 line of spread and other supply to another largest print we have to additional shipping costs, I think on the shipping I think after -- so at this stage, we've got a leading position in terms of the highest list ensure the business of the kind of customer relationships for those in the year. So goes to say kind of type of in-house development technology. we come there going forward, again, we can capture a lot of later shares in the leases and also in copresenter.

We now invite the participants to phone number and in 6237 to ask a question.

This is Shiwen Li from CICC. Congratulations on the consecutive and strong Y-o-Y growth on our shipment and also revenue. So I have 2 questions. The first one is we found that LiDAR players are all pushing for higher beam count and RoboSense has already reached 2,160 beams. So the question for me is how much real-world improvement do you actually get from higher resolution for Level 2+, Level 3 and Level 4 robotaxi applications? What would you say is the rough upper limit of beams that is really needed? And my second question is, looking ahead over the next 2 to 3 years, where do you see the main competition in ADAS and robotic sensors? Is it higher resolution sensor fusion or cost? And how is RobosSense positioning itself in this direction?

Thank you. I'll take this question. So I think, first of all, if you look at safety, safety for autonomous vehicles, I don't think there is a limit in terms of safety, right? So -- and obviously, with a higher beam count to a LiDAR, you are enabling the vehicle to drive safer. So for example, our 2,160 beam LiDAR can see objects that are 600 meters away or the same LiDAR that was only 128 lines, you can only see the object that's only 100 or so meters away. So in which scenario is it safer? Is 100 scenario or the 128 beam scenario, right? So currently, if you look at a lot of the L2+ vehicles in this year, they are now adopting EMX, which is the 192 line solution, but we're already in talks with a lot of the OEMs for next year's product. And don't want to disclose too many details, but the jump is going to be a lot higher, and it's not going to be 300 lines, right? Now L3, I think currently will -- this year will require 500 lines because the L3 and L4 lines quite good. Our EM4 products are typically about 520 lines. And a lot of the robotaxi players right now are equipping their main LiDAR with our EM4 LiDAR. But the 500-plus line lineup for L4 is likely going to go to more than 1,000 lines next year. Now I think the breakthrough is when we start producing this 2,69, 4,320 line because, like I said, we're creating a sensor that is better than the human eye. And we think about it because LiDAR gives you the depth information, right? So in the past, we've always been training a lot of the autonomous driving by 2D data that we're getting from the cameras. But we're not using the 3D depth information that you actually get from our LiDAR camera. So in the future, I actually think a lot more OEMs will adopt our LiDAR camera because it actually can actually help them save on the compute capacity, right, going forward. And basically, we're at the point where the competition, right, for LiDAR is now all going to be digital based and the competition, therefore, on a digital-based LiDAR is on your chip. And I think we have a head start from a lot of our peers since we spent the last 8 years doing R&D.

We now invite the participants whose phone number ends in 6,922 to ask a question.

This is Bin Wang from Deutsche Bank. I have a question for BIP most important in to make you share more detail about the Talmoperation with CID no exclusive all those move any new developments in additional activity this year to use what is is to be an event and no not evening. Is there any code or can tomorrow?

Yes, yes, we is major of around the total 40,000, so of our more customers on the ES business. So if you do a little last year were part the later in penetration of all those in order as last year, I think the is a new vehicle in all 3 of the meter. So they are like bus from global and our competitors do around 40,000 marketing. -- the are rates of 10% sometimes. So as what we mentioned before, very now we capture the larger stuff the shares from already so because of our new progenic -- so I think which ever in terms of specification of our are being involved most products. So we charge more operational -- so this year, we forecast, I think the shipment of light as go to is around -- from 1 center around 45,000 6,000. So I think the total number of the domestic, we are pushing this year is $35 million to end last year. So that means that the penetration we work on the estimation about equal to about 12% to 70% on is some small number, and we salute 70%. So let us see, okay, what they are tonalite most some -- also wondering if you think government, I think the beating opposite see that effect for VIBecles or those paces estate to install lives in this lower price vapes. We really hope to see again going forward specific we will increase epitope vehicles on .

I want to add a quick comment also. I think not only do we have BIB and Geely, I think that have effectively given us not as the primary supplier to LiDAR. If you look at the penetration rate of these 2 companies combined, they're only -- their penetration rate for LiDAR stands at about 10% to 15%. So over the next few years, we're going to see a lot of growth from these 2 customers alone, and that will actually help us regain our market share in the LiDAR market. So it's safe to say that the market share for RobosSense in terms of -- in the ADAS market will bottom out. We will probably regain a leading position likely in 2027, if not 2028, just by the sheer size of these customers. And that's why I started the call by telling our friends here that market share is a strategic priority for OboSense in this year and getting them on board, switching them to our digital LiDAR solutions is key to this.

And also starting of this year, you can see that in more and more lower price [indiscernible] slightly a bit more than like it. So we we're very [indiscernible] in terms of the lighter demonstration at a comfort.

We now invite the participants whose phone number ends in 7,820 to ask a question.

This is Xiaoyi Lei from Jeffries. I've got a couple on the Lower business. So first, on the RoboRock partnership you just announced. Any color you can share on the incremental shipment contribution we should expect? And just to get a better sense of the landscape, where does RoboSense sit in terms of market share in the Lower today? And most of your key customers sourced with you. And my second question is regarding the shipment trend from here. So looking into the second half, what does the order cycle typically look like with these customers? I'm also curious how you are factoring the potential EU tariff changes at the end of June and whether you've already seen any pull forward demand earlier this year that might impact the second half run rate?

Thank you Xiaoyi for your question. So I want to first update our friends here on our 2026 full year volume guidance. So we do expect our annual shipments to grow 2 to 3x this year. So last year, our total shipments was about 900,000, among which 600,000 was ADAS and 300,000 was robotics. So we're going to build on that and grow our volume 2 to 3x this year. Now if I look at by segment, the robotics LiDAR segment is probably going to be on the higher end of that range, so closer to 3x. The ADAS LiDAR growth segment will be closer to the lower end of that guidance. Now if I was to look at the -- to answer your question in terms of the lawn mower business, yes, we just signed a huge contract or strategic partnership with RoboRrok. So that is going to increase our volume. So on the lawnmower side, we think the volumes are going to be going to closer to 600,000 plus. So last year, we were about 200,000 in lawnmowers. And 2 years ago, we actually had almost no lawnmower volume. So you can actually see how fast the robotics segment is growing. They just come from nowhere, right? And our market share in the robotics segment right now is about -- in the lawnmower segment right now is about 70%. So a lot of the key customers like hao, Puma, right, Go Rock, basically, they use our company's products. Now there is seasonality though, right, with lawnmowers and a lot of the shipments from lawnmower happen in Q1 and Q4 of each year because they're used in Q2 and Q3 typically. So therefore, what you will see in the Q2 is that we're going to have very little contribution from lawn mowers, but higher contribution from the ADAS side. Now in terms of the tariff, so far in terms of our shipments, we've actually not seen an impact. We've actually seen customers coming in and placing orders for the back half of this year, and that will obviously be already past June. And I think a lot of our partners, they also have capacity overseas also. So the tariff impact is actually minimized or not as big as what the market thinks it is. We are still seeing extremely strong growth on the long haul.

We now invite the participants whose phone number ends in 2650 to ask a question.

This is [indiscernible]. I'd like to ask about the robotaxi business. How is the robotaxi business trending as a share of Rboense's overall business? Which clients are driving the incremental growth? Could you also provide some guidance on this year's shipment volume and overall business progress? And lastly, have there been any new breakthroughs with the overseas robotaxi clients?

Thank you for the question. I will leave it up to the above tax segment. Give us right now on the safe oversales holding permanent have been positioned in the tent. So everybody get is good to go very fast this year that we did the previous in terms -- I think because of the occasion to increase is significantly to -- so what I think we are on the way to the local tax sector is that we have seen last year. I think in terms of harvesting this moves center, I think the industry instrument we estimate group rates caps. But in the month think this type of global tax center is going to have rubles. So we look at our customers, I think this was mobile sector. All those for fixation of our business, so does include TV, Roy and I mean then we go to icon for PC, all the lighter radar installed in Doberstein, including the forming line and also the fixed price solar at all surprised by late. Okay. And also recently, we already get opportunities from. So the armies will be actually to adopt our main like our light emanate. So you mentioned before Misery very powerful like long-range also long in China. We reaction of meters and also in terms of 1 recently up to 5 candidates of another big time be right, okay. realizing the next generation rotors high possibility that we will adopt our EM -- and also, they are using our -- for bite as the FX for line. Not a lot of these studies are similar for factories also seriously considering, okay, to see our year or even as a new market in the next generation of testing -- so you'll see far we are right now very dominant and position in the global KFC sectors, both because of our in-house set more powerful like us. So in terms of OCs worker tax business specialists close to do is that every is a thin focusing slowly were coming the orders are big moats in overseas market. So -- going forward, we will disclose more I think that we can come to a more appropriate moments on this. But I think in terms of , don't be okay disclosing and other call, I know you mentioned you also certain all the investors can make now in platform. Okay. All the global tax business both logic and others, just a separate life will look at Australia still on a very low level. So in 3 years, I think the market and also the revenue position become more minute. So I will come up of our separate lines to discuss more real, mean the reset contribution for.

Due to time constraints, we will now conclude the Q&A ession and turn the call back to management for closing remarks.

Should you don't have any questions or for additional information we encouraged to visit our investor relations www.irrobosense. com. Thank you much for everyone.

Thank you. Ladies and gentlemen, that does conclude our call for today. Thank you for participating. You may all disconnect.