HUHESAI@EC2608A

Unitree and Hesa LiDAR featured at the 2026 CCTV Spring Festival Gala

CITIC CLSA Rates Hesai 'Outperform' With Price Targets

Citic Securities Analyzes Hesa-W's Market Position and Revenue Growth

Hesai Technologies Ranks First Globally in LiDAR Patents with Significant Technological Innovations

Hesa Technology Announces First Place in 3D LiDAR Shipments for 2025

CICC Raises Revenue Forecast for Hesa-W in 2026 and Gives Positive Evaluation

Hesa Technologies Displays Latest LiDAR Technology at CES 2026

Hesa Technology Selected by NVIDIA as Lidar Partner

Cinda International Maintains Buy Rating on Hesa-W, Bullish on Its Profitability and Cash Flow

Hesai Technology Announces Over 1.6 Million LiDAR Deliveries in 2025

Huachuang Securities Strongly Recommends Hesa-W, Predicting Continued Growth

Hesaitech's Long-Range LiDAR Mass Produced On Geely Galaxy V900 And Secures Multiple Model Orders

Hesa-W Reports Third Quarter Revenue Surge, Upgrades Full-Year Profit Guidance

Huaxi Securities Initiates Coverage With Buy Rating for Hesa-W

CICC First Coverage on Hesai Tech with Outperform Industry Rating

CICC First Covers Hesai-W and Gives Outperform Industry Rating

DeepBlue Auto Launches Intelligent Sedan DeepBlue L06

HTI First Covers Hesa Technology with an 'Outperform' Rating

Hesa Technology Secures Li Auto's LiDAR Order

CMB International Maintains Positive View on Hesai-W, Raises Profit Forecast for 2025-2027

CCOE

STARCOIN GROUP

ONEFORCE HLDGS

ROYAL DELUXE

STELUX HOLDINGS

TE HEALTHCARE

ASIAPAC FIN INV

WELIFE TECH

DRINDA

TIMELESS

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The Hang Seng Index rebounded today, closing at 26,630 points, up 249 points or 0.95%. Northbound capital net inflow was HKD 14.997 billion, while southbound funds saw a net outflow of HKD 576 million this week. The market is digesting corporate quarterly results and awaiting U.S. economic data, with total turnover reaching HKD 288.42 billion. After the adjustment of the MSCI China Index constituents, HESAI and SenseTime's stock prices rose by 4.4% and 4.9%, respectively

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FI2 CSOP HSI

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Hang Seng Index

TRACKER FUND

FL2 CSOP HSI

HESAI-W

Market Review: Hang Seng Index rebounds, northbound capital flows in nearly HKD 15 billion, New World Development rises over 7%

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The MSCI China Index will undergo a constituent adjustment after the market closes on the 27th, adding 37 stocks including Hesai, PONY-W, SENSETIME, and YOFC, while removing 16 stocks. Hesai's stock price rose 3.4% to 217.6 yuan, PONY-W rose 6.8% to 115 yuan, SENSETIME rose 4.1% to 2.54 yuan, and YOFC rose 7.9% to 145.9 yuan

iShares MSCI China

PONY-W

SENSETIME-W

YOFC

Hesai

SenseTime, YOFC, and Hesai rose over 3% to 7% after the market closed and will be included in the MSCI China Index

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On the first trading day of Hong Kong stocks today, despite the market decline, robotics concept stocks rose against the trend. UBTECH ROBOTICS and HESAI-W each rose by 7%, while DOBOT surged nearly 20%. Several technology companies showcased robot performances during the Spring Festival Gala, attracting widespread attention, with a significant increase in search volume and order volume for related robots on the JD platform. The overall trading volume was HKD 71.82 billion

DOBOT

UBTECH ROBOTICS

"Spring Festival Gala Robot" concept stocks rise against the market trend, UBTECH ROBOTICS and HESAI-W each up 7%, DOBOT surges nearly 20%

HUMN

IBOT

ARKQ

BOTZ

Two humanoid robots from Yushu Technology showcased high-level coordinated movements during the CCTV Spring Festival Gala, equipped with Hesai JT128 laser radar. As a result, Hesai (HSAI) saw its stock price rise in the U.S. market, reaching a high of $28.21 on Tuesday and closing at $26.77, an increase of nearly 4%. The delivery volume of the Hesai JT series laser radar has exceeded 200,000 units, widely used in smart robot products

Stheadline

Roundhill Humanoid Robotics ETF

VanEck Robotics ETF

ARK Autonomous Tech & Robotics ETF

Global X Robotics & Artificial

Yushuren humanoid robot equipped with Hesai LiDAR, Spring Festival effect boosts stock price

ROBO

GRAB

HAIL

Grab Holdings (GRAB) has been selected as the exclusive distributor for Hesai Technology's lidar products in Southeast Asia, enhancing its focus on autonomous mobility. Despite a recent share price increase, Grab's valuation remains a topic of debate, with a fair value estimated at $8.20 compared to its current price of $4.26. The company has shown positive revenue growth and profitability, but its high P/E ratio of 142.7x raises concerns about valuation risks. Investors are encouraged to explore further opportunities in undervalued stocks and resilient companies.

Simplywall

ROBO Global Robotics

Grab

SPDR S&P Kensho Smart Mobility ETF

Assessing Grab Holdings (NasdaqGS:GRAB) Valuation After Exclusive Hesai Lidar Distribution Deal

Grab Holdings Ltd. has announced a strategic partnership with Hesai Technology, becoming the exclusive distributor of Hesai-Lidar products in Southeast Asia. Grab will be responsible for the distribution, customer support, and marketing of the sensors in the region.

Reuters

Grab Holdings Ltd. wird exklusiver Vertriebspartner für Hesai-Lidar in Südostasien

BOTT

Grab Holdings Ltd. has partnered with Hesai Technology to become the exclusive distributor of Hesai’s lidar products in Southeast Asia. This collaboration will enhance sales, customer support, and marketing of advanced lidar sensors in the region, targeting industries like robotics and autonomous mobility. The partnership aims to meet the rising demand for AI-driven automation by utilizing Grab’s distribution network to provide high-quality lidar solutions.

Themes Humanoid Robotics ETF

Grab Named Exclusive Southeast Asia Distributor for Hesai Lidar Sensors

China Post Securities initiates coverage on Hesai, giving it a "Buy" rating, and expects a nearly 62% growth in net profit for 2023. Hesai ranks first in the global market share for automotive LiDAR, ADAS LiDAR, and L4 autonomous driving LiDAR. The company significantly reduces costs through self-developed chip technology, with projected revenues of 3.09 billion, 4.1 billion, and 5.41 billion yuan from 2025 to 2027, and GAAP net profits of 420 million, 680 million, and 920 million yuan, respectively

In "Major Banks," China Post Securities initiates coverage on Hesai with a "Buy" rating, expecting a nearly 62% increase in net profit this year

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The Hang Seng Index opened higher this morning, rising over 240 points to surpass 27,000 points, currently reported at 27,010 points, an increase of 0.9%. However, autonomous driving-related stocks such as Hesai, ROBOSENSE, and HORIZONROBOT faced pressure against the market trend, with Hesai's U.S. stock plummeting 10.1%, and the Hong Kong stock opening down 8.7% before falling nearly 10%. ROBOSENSE and HORIZONROBOT also experienced declines, while Baidu-SW dropped 1.5%

ROBOSENSE

HORIZONROBOT-W

The Hang Seng Index rose over 240 points in the early session, climbing back above the 27,000 mark. Stocks related to intelligent driving faced pressure against the market trend, with Hesai previously dropping nearly 10%

Hesai Group has scheduled an extraordinary general meeting for March 3, 2026, in Suzhou, China, to seek shareholder approval for a comprehensive amendment of its Memorandum and Articles of Association. The proposal includes redesignating 50 million shares into Class B ordinary shares, increasing the total to 950 million. This move aims to enhance the company's capital-raising flexibility and strengthen its dual-class share structure. The latest analyst rating for Hesai Group (HK:2525) is a Buy, with a price target of HK$265.00.

Tip Ranks

Hesai Group Calls 2026 EGM to Overhaul Articles and Expand Class B Share Capacity

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Hesai Group has announced an extraordinary general meeting scheduled for March 3, 2026, in Suzhou Industrial Park, Jiangsu Province, China. The meeting will focus on voting for special resolutions as detailed in the EGM notice. This announcement was originally published via the Issuer Information Service by the Hong Kong Stock Exchange on January 26, 2026.

Guotai CSI 800 Automobile and Parts ETF

HFT CSI Auto Components Thematic ETF

Ping An CSI Auto Components Thematic ETF

ChinaAMC CSI Auto Components Thematic ETF

E Fund CSI Auto Components Thematic ETF

Hesai Group Announces Date for Upcoming Extraordinary General Meeting

Zijin Mining's drop over the past two days has been a bit absurd. Gold prices just plunged without warning. The A-share market can still hold up, but the Hong Kong market got hammered directly. Although investment banks are still talking it up, after this wave of volatility, I'm feeling a bit mentally drained. Even if the holdings in hand are based on conviction, they can't withstand the market being so turbulent. Hesai Technology just got included in the MSCI index and opened high, but then followed with an adjustment… Even positive news gets digested into volatility. The new energy and autonomous driving concepts are changing day by day now, and actual trading is getting more and more confusing. Kind of want to put the phone down and pretend nothing's happening to the account...

ZIJIN MINING

Zijin Mining

Tesla

Deep Research

The current market capitalization is still acceptable. If there are no more R&amp;D results, the market capitalization will continue to increase. Then it's a bit hard to say. Personally, I think Tesla's current price is still a bit overvalued.

TSLA at $1.5tn: priced for the future, or still undervalued as an AI crown jewel?

Agilent Tech

Uber Tech

Alphabet - C

Alphabet

Apple

ZEEKR Intelligent Tech

NVIDIA

From Cars to Dreams: Is AI TSLA at RMB 1.5tn overvalued?

Entering 2025, three years into the OpenAI-led AI cycle, the industry remains in a full-on AI investment phase. Based on our recent work, Dolphin Research sees 2026 hinging on compute cost-down and on AI capex translating into deployments across software and hardware.The rollout of new hardware is the true incremental driver. Meanwhile, mass production of Tesla's Optimus is drawing closer, and humanoid robots could become the primary AI form factor, reshaping human interaction and productivity.On this premise, Dolphin Research is launching coverage on the robotics supply chain. This is Part 1.

Fulai New Material

Orbbec

Honeywell

W-Ibeda

SANHUA

Sanhua

Keli

Lingyun Ind

BOSCH

Hanwei Electronics

XDLK

XPeng

XPENG-W

Humanoid Robots: AI's Best Hope?

Today’s Key News Recap

1125 | Dolphin Research Focus: 🐬 Stock 1, $Alphabet(GOOGL.US) It is reported that Meta is negotiating with Google to use TPU chips worth billions of dollars in its data centers by 2027, and plans to rent chips from Google Cloud next year. Although TPUs are not as flexible as NVIDIA GPUs, they have lower development costs and consume less power when running at full capacity. If TPUs are successfully supplied externally, it marks intensified competition in the AI chip market, potentially impacting NVIDIA's market share and pricing power. For Google...

Xiaomi HK SDR 2to1

XIAOMI-W

Meta Platforms

Amazon

XIAOMI-WR

Xiaomi Corporation

Direxion Daily Googl Bear 1x Shares

Direxion Daily GOOGL Bull 2X Shares

Direxion Daily AMZN Bull 2X Shares

GraniteShares 2x Long NVDA Daily ETF

XL2CSOPNVDA

XI2CSOPNVDA

YieldMax NVDA Option Income Strategy ETF

Direxion Daily NVDA Bear 1X ETF

T-Rex 2X Long NVIDIA Daily Target ETF

T-Rex 2X Inverse NVIDIA Daily Target ETF

Google's TPU Sales Challenge Nvidia Dominance; Xiaomi Rallies on Lei Jun's Stake Boost. ｜Today's Important News Review

1124 | Dolphin Research Focus: 🐬 Macro/Industry 1. On November 21st, Hang Seng Indexes Company announced the results of its quarterly review, with the changes to be implemented after the market closes on December 5, 2025, and effective from December 8, 2025. Among the changes, Dolphin Research is particularly interested in Leapmotor being included in the Hang Seng TECH Index, and Hesai Technology being added to the Hang Seng Composite Index. Inclusion in the indices will bring passive capital inflows to both companies, enhancing stock liquidity and market attention. Leapmotor rose nearly 6% today, while Hesai increased by over 8%...

LEAPMOTOR

OpenAI

BABA-W

BILIBILI-W

BABA-WR

Alibaba

Bilibili

KraneShares 2x Long BABA Daily ETF

YieldMax BABA Option Income Strategy ETF

BABA 2x Long Daily ETF - GraniteShares

NIO-SW

Alibaba HK SDR 5to1

NIO Inc. USD OV

NIO Inc

Ali Qianwen surpasses ten million downloads; Hang Seng Index adjusts, Leapmotor and Hesai surge｜Today's Important News Recap

禾赛科技

Why do stock prices and performance show opposite trends?

Eaton Vance Municipal Income Term Trust

GEELY AUTO

BYD COMPANY

Geely Auto

GEELY AUTO-R

BYD COMPANY-R

BYD Company Limited

BYD Company

GraniteShares 2x Short TSLA Daily ETF

Direxion Daily TSLA Bull 2X Shares

AXS TSLA Bear Daily ETF

XI2CSOPTSLA-U

XL2CSOPTSLA

XI2CSOPTSLA

GraniteShares 2x Long TSLA Daily ETF

EMX Royalty

GEELY AUTOMOBILE HOLDINGS LIMITED SPON ADS EACH REP 20 ORD

BYD HK SDR 10to1

Hesai's Plunge: What Went Wrong?

Conference Minutes

The collaboration with BYD currently covers more than ten models, and more new models will gradually achieve mass production from 2025 to 2026.

Hesai (3Q25 Minutes): Lidar shipments are expected to reach at least 2 million to 3 million units by 2026

HUHESAI@EC2608A(26025.HK)

Market Review: Hang Seng Index rebounds, northbound capital flows in nearly HKD 15 billion, New World Development rises over 7%

SenseTime, YOFC, and Hesai rose over 3% to 7% after the market closed and will be included in the MSCI China Index

"Spring Festival Gala Robot" concept stocks rise against the market trend, UBTECH ROBOTICS and HESAI-W each up 7%, DOBOT surges nearly 20%

Yushuren humanoid robot equipped with Hesai LiDAR, Spring Festival effect boosts stock price

Assessing Grab Holdings (NasdaqGS:GRAB) Valuation After Exclusive Hesai Lidar Distribution Deal