Member Info for Maplinman

HI JC,

Interesting post. My understanding (helped by Chat GPT) is that Yaguang Technology (亞光 / Asia Optical, ticker 3019.TW) produces cameras/optics - essentially the physical eye for Optimus 3. SEE's tech would actually complement it. Yaguang gives a humanoid robot eyes:

Seeing Machines potentially gives it social intelligence. What do you think?

Labour and the Tories are heading into the dustbin of history. Burnham is a rotten as Starmer, only he is better at disguising it. The UBS economist at UBS made a very insightful comment: "“…the successor apparent, former Manchester Mayor Burnham, is not expected to radically change the policies investors care about (instead offering small changes and better social media skills).”

We need to get rid of the first past the post system that allowed only 20% of voters to elect a bunch of Labour shysters in 2024. Our corrupt mainstream media won't make that easy: https://www.safestocks.co.uk/2024/07/05/the-falsification-of-history/

Israel is still bombing Lebanon and is determined not to comply with the terms of the ceasefire signed by the US and Iran. There is zero chance that Israel voluntarily ends its occupation of Lebanon unless Trump comes down hard on it, threatening to cease arming and paying for its army. Most Israelis support the genocide in Lebanon and Netanyahu is going to bomb Beirut again, which will cause Iran to punish it. The question is what will Trump do when that happens? Will the deeply corrupt Trump, who is bankrolled by the Israel lobby and compromised by his sexual shennanigans with Epstein (who worked for Mossad) have the balls to deny US support to Israel in extremis? I doubt it. Trump is scared of his rabid attack dog.

Very interesting situation. Israel is determined to continue its genocide in Lebanon and Gaza. The war isn't over. Either Trump stops the rogue state of Israel by withdrawing aid and military support (Israel cannot go it alone) or the peace agreement will break down when Iran punishes Israel. .

Peel Hunt target price is 363p. Here's a quote from the note: "Outlook and guidance. Serica guides FY26 production to significantly over

40Mboe/d (PHe: 46.3Mboe/d), with post-tax CFFO guided at $470–520m (PHe:

$483m). The company maintained all other guidance (PHe FY26: current capex

of $190m and opex of $27/boe), with net debt trending towards net cash by end-

June (PHe FY26: net cash of $34m). Elsewhere. Serica indicated that the AIM-to-

Main Market transition is on track for 3Q26 and the Catcher/Golden Eagle

acquisition is due to complete around mid-June. Importantly, Serica’s investment

programme is forecast to be more than covered by FCF, supporting production of

over 50Mboe/d into the next decade and sustainable shareholder returns. We

intend to update our forecasts, incorporating today’s CMD, in the short term"

I can't see the oil price coming down until Trump can swallow the fact that the US has lost the war with Iran. My understanding is that the price is only going to increase until he does as the shortage is increasing and stockpiles are being run down. Happy to hear any other views as I'm no expert on oil stocks.

Peel Hunt target price is 363p. Here's a quote from the note: "Outlook and guidance. Serica guides FY26 production to significantly over

40Mboe/d (PHe: 46.3Mboe/d), with post-tax CFFO guided at $470–520m (PHe:

$483m). The company maintained all other guidance (PHe FY26: current capex

of $190m and opex of $27/boe), with net debt trending towards net cash by end-

June (PHe FY26: net cash of $34m). Elsewhere. Serica indicated that the AIM-to-

Main Market transition is on track for 3Q26 and the Catcher/Golden Eagle

acquisition is due to complete around mid-June. Importantly, Serica’s investment

programme is forecast to be more than covered by FCF, supporting production of

over 50Mboe/d into the next decade and sustainable shareholder returns. We

intend to update our forecasts, incorporating today’s CMD, in the short term"

I can't see the oil price coming down until Trump can swallow the fact that the US has lost the war with Iran. My understanding is that the price is only going to increase until he does as the shortage is increasing and stockpiles are being run down. Happy to hear any other views as I'm no expert on oil stocks.

Nice post Whatif...FoxConn doing some very interesting things with robots.., not just cobots for smart factories. https://www.foxconn.com/en-us/press-center/press-releases/latest-news/1601

I think a robot licence deal could be the catalyst for a complete re-rate that ensure us holders receive pounds, rather than pennies, when Seeing Machines is bought.

A few thoughts: according to my research and previous info from contacts.

1) Aisin has been playing catch-up re. DMS. Toyota owns part of Aisin and there are cross holdings. Still, I don't think it is accurate to say "Toyota owns Aisin". It doesn't even control the majority of its shares, only holding around 25% in total (according to my quick research).

2) Toyota launched the first camera-based DMS in around 2009 but fell technically and the Japanese suppliers of DMS aren't in the same league as SEE.

Chill. SEE is the global market leader.

Thanks. I was hoping SEE had bundled a few pilots together and put out some sort of RNS Reach. Not sure posting on LinkedIn really does it for the share price.

Hi Seize,

Great find. Do you have the original source for this information? Thanks.

Aaron,

Well spotted, I was hoping someone else would have a dig into this goldmine. I feel a re-rate coming on.

Https://www.auto-innovations.net/news/109662-valeo-at-auto-china-2026

"A significant differentiator for Valeo in 2026 is its expansion into Embodied AI and humanoid robotics. Recognizing that bipedal robots share the same fundamental needs as "wheeled robots"—sensing, thermal management, and motion control—Valeo is repurposing its automotive-grade hardware for the industrial robotics market. By establishing a dedicated humanoid training center in Nanjing and integrating these robots into its own assembly lines, Valeo proves the durability and versatility of its AI-driven components. This move allows the Group to capture value in the burgeoning robotics sector while simultaneously optimizing its own manufacturing productivity."

I think this is of interest: https://valeo.wd3.myworkdayjobs.com/en-US/valeo_jobs/details/-Optronics-Team-Leader---In-Cabin-Camera-Systems-BRAIN-IX_REQ2025067567?q=driver%20monitoring

This looks like a pilot programme, probably with a Swedish police authority. This is more of a gimmick as it can't actually identify the cause of the impairment. For that you need a blood test. More smoke and mirrors from Smart Eye. What you should be focused on is the reluctance of Smart Eye to provide transparent figures for the number of cars produced with its technology each quarter. Colin Barnden has done an excellent job of debunking its claim to leadership in interior monitoring. The crown belongs to Seeing Machines.

Best news this week, isn't the BdMS contract, it's the news that SEE is now going to be licensing its DMS software to partners (presumably Valeo/Magna/Mitsu) who have the muscle to put it into trucks at scale. It is discussed in this interview with Paul McGlone from 36m-39m: https://www.youtube.com/watch?v=iouQ07JkU94

That's the business model I referred to in an earlier post and it would be transformational in Aftermarket. Can't wait till the analysts pen notes on this.

The fact a subsidiary of Alphabet, which owns Waymo, has the confidence to extend its previous orders for Seeing Machines tech proves SEE is the global leader in interior monitoring. It ought to double the share price. They will have done their due diligence, so its a helluva recommendation. Well done SEE.

Thanks JC, that's good news. Hopefully, it will lead to more investment in safety to reduce insurance premiums for the big players. I assume the supply shortage is due to ma and pa truckers being forced out by rising petrol prices, which they can't pass on to customers?

Thanks JC, that's good news. Hopefully, it will lead to more investment in safety to reduce insurance premiums for the big players. I assume the supply shortage is due to ma and pa truckers being forced out by rising petrol prices, which they can't pass on to customers?

Thanks for engaging with me guys. You've all made some valid points imho.

Grey - I've noticed the European Truck manufacturers do seem focused on 'integration' and probably SEE is a more expensive than many competitors (I'm not sure) - perhaps especially with what's happening re. the price of petrol. Though there ought to be reduction in insurance premiums for the bigger players.

BB - I completely agree re. the business case for going down the Tier 1 route. Though there must be pros and cons, I assume that is what the customers ultimately want.

Whatif -- I'd completely forgotten about the h-omologation issue re OEMs. That's why I'd quite like SEE to provide me with an idiots guide to their strategy re. trucks and buses. Has it changed? What are the timelines? How are we working with the wide variety of partners we have? While another 2 months won't kill me, I'd appreciate answers.

Thanks Seeing2020,

I appreciate it takes time and those recurring revenues are not only increasing in size but margins are also growing. That said, given the regulatory impetus I'm impatient. I'd appreciate a more in-depth explanation of the strategy that encompasses what SEE is doing with partners to boost sales of our DMS in trucks. Mitsubishi in the US seems to be taking a long time to leverage its customer base of 1m trucks, never mind what is happening in the EU. It would be good for us investors and the share price to have clarification on what we are doing with Valeo and Magna in the truck arena, (ideally mentioning some of the European truck OEMs with whom we're working). Probably, that latter wish is subject to NDAs, but there are ways round that.

Aftermarket could be much more valuable for sure. I've noticed some scepticism from analysts in the past re. Gen 3 sales and, like all investors, want it finally put to bed with some big orders this quarter. Unfortunately, I fear Trump's insane actions in the Middle East and the spillover economic impact could further slow progress. I guess we'll see.