Hesai

Hesai Group rose 8.4% on the day as US-listed Chinese ADRs rallied broadly, with the Nasdaq Golden Dragon China Index closing up 3.60% after a Democratic landslide removed political uncertainty and drew flows back into China assets. Pre-market the stock touched 12.23 USD at 04:01 ET, then opened at 13.00 USD at 09:30 ET and trended higher to an intraday high of 13.445 USD at 10:15 ET before easing to 13.09 USD at the close; post-market at 16:09 ET it printed 13.08 USD. Fundamentals contrast with the price: Q2 2026 revenue of 126.8 million USD grew 28.57% year on year and net profit of 10.39 million USD rose 68.84%, with net margin at 8.20%, yet operating income was only 0.32 million USD, down 89.87%. The shares remain below MA20 of 13.49 and MA60 of 15.96, 55.43% under the 29.35 USD high of 22 January and down 45.68% year to date. Morgan Stanley cut its price target to 22 USD, while another 12-month target was cut to 26.26 USD. The durability of the single-day China ADR rebound, though, is still unproven.

Hesai closed Monday up 4.42% at $13.71 after securing an exclusive LiDAR supply agreement for Li Auto's next-generation intelligent driving platform. The stock spiked to $14.18 in pre-market before fading, then oscillated between $13.13 and $13.96 through the regular session and edged down to $13.69 after hours. Fundamentals kept repairing: Q2 revenue of $126.8mn rose 28.57% yoy and net profit of $10.39mn grew 68.84% yoy on an 8.20% net margin, though operating income of just $0.32mn fell 89.87% yoy; PE is 30.06x and PB 1.63x. The shares remain 53.29% below the 52-week high of $29.35 hit on January 22 and down 43.06% year-to-date, trading under the 20-day MA of $14.55 and the 60-day MA of $16.62, only 14.25% above the October 22 low of $12.00. Most brokers maintain a buy rating and attention is building on its Kosmo robotics push, though Goldman Sachs flagged weakening domestic demand as weighing on new energy vehicle stock targets.

Hesai Group closed Friday up roughly 8% at $13.13, driven by news that the company secured an exclusive LiDAR supply deal for Li Auto's new-generation intelligent driving platform, a session that traced a low-open, high-close path from the pre-market low of $12.10 at 04:01 ET to an intraday high of $13.298, before easing into the $13.14 close on about 1.39 million shares. Fundamentals show a sharp contrast with the stock's position: Q2 2026 revenue reached $126.8 million, up 28.57% year over year, net profit $10.39 million, up 68.84%, net margin 8.20% and EPS $0.0589, up 31.88%, while operating income was only $0.32 million, down 89.87%. The shares remain 55.26% below the 52-week high of $29.35, down 45.47% year to date, and sit under the MA20 of 14.642 and MA60 of 16.668, with the 52-week low of $12.00 set on October 22, just 9.42% below the current level. The rebound follows a Citigroup target-price cut of 23% on the Hong Kong listing and lowered Q3 earnings forecasts, and a fresh 52-week low on Thursday, so the move looks order-driven. Though at 28.79x PE and 1.57x PB, earnings delivery still has to catch up with valuation.

HSAI closed at $12.14, down about 8% from the prior close of $13.19, as Chinese ADRs weakened with the Nasdaq Golden Dragon China Index off 1.20% and Citi cut its target price on Hesai's Hong Kong shares by 23% while lowering Q3 earnings forecasts. The session traced a low-open, spike-and-fade pattern: pre-market dipped to $11.85, the regular session rebounded to $13.19 before fading, with 2.26 million shares traded and a 2.94% turnover rate. Fundamentals contrast with the tape, as Q2 revenue rose 28.57% yoy to $126.8 million, net profit jumped 68.84% to $10.39 million and net margin reached 8.20%, yet operating income was only $323K, down 89.87% yoy. The stock printed a new 52-week low of $12.00, down 58.64% from its January high of $29.35 and 49.58% year-to-date, still below MA20 of $14.80 and MA60 of $16.73, with PE at 26.62. Though shares had gained 8% earlier on its Physical AI positioning, headline-driven swings remain pronounced.

Hesai Group fell 5.7% to $13.19 on Wednesday as the Nasdaq Golden Dragon China Index slid more than 2% intraday, weighing on Chinese ADRs; the stock spiked to $13.84 in pre-market before fading, touched a regular-session low of $12.655, closed at $13.175 and held $13.19 after hours. Q2 2026 revenue reached $126.8 million, up 28.57% year over year, with net profit of $10.39 million, up 68.84%, a net margin of 8.20% and EPS of $0.0589, up 31.88%; operating income, though, was just $323 thousand, down 89.87%, so the profit gain leaned on non-operating items. The shares are down 45.22% year to date, 55.06% below the January 22 52-week high of $29.35 and only 6.72% above the October 16 low of $12.36, trading under both the MA20 of $15.01 and MA60 of $16.80, with a 28.92x P/E and $2.07 billion market value. Third-quarter results are scheduled for November 10.