HUHESAI@EC2611A

HESAI-W to Release FY2026 Q1 Earnings on May 19 Pre-Market (BJT), Forecast Revenue HKD 768.66 M, EPS HKD 0.0035

US Bank Securities Maintains Buy Rating on Hesaitech Class B Shares

Hesa Achieves Annual GAAP Profitability and Leads in Automotive Lidar Market

Hesai Provides Exclusive LiDAR Solution for KargoBot Space 2.0 Mass Production

China Merchants International Securities Maintains Buy Rating for Hesaigroup B Shares with a Target Price of HKD 228.54

CMB International Maintains HSAT Group Target Price and Rating

UBS Maintains BUY Rating and Sets Target Price for Hesai Technology Class B Shares

Hesa Hosts Technology Open Day to Showcase Strategic Transformation and Launch New Products

Goldman Sachs Raises Hesai Target Price to HKD273

Hesa ETX 6D LiDAR Platform Scheduled for Mass Production in the Second Half of the Year

Hesa Technology Achieves Full-Year Profit in 2025, Becoming the First Globally

Guotai Junan and DBS Reaffirm Buy Rating for Hesai Tech Class B Shares

CICC Downgrades Hesai's Profit Forecast and Adjusts Target Price

Hesa Group Signs Lidar Product Supply Agreement with Sharpa

Hesa-W Reports Record Revenue and Net Profit in 2025, Over 1.62 Million LiDAR Units Shipped

Hesa Technology Announces Quarterly Earnings: Net Revenue Up 39%, Predicts Q1 2026 Revenue of 650-700 Million Yuan

HESAI-W released FY2025 Q4 earnings on March 24 Pre-Market (BJT), actual revenue HKD 1.113 B (forecast HKD 1.193 B), actual EPS HKD 1.0433

HESAI-W released FY2025 Annual Earnings on March 24 Pre-Market (BJT), actual revenue HKD 3.309 B (forecast HKD 3.508 B), actual EPS HKD 3.257 (forecast HKD 3.1751)

Hesa Technology Exclusively Supplies 10 Million LiDAR Units to Dreame

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Hong Kong's robot concept stocks experienced a significant rise in early trading. According to Jin10, Hesai Technologysaw an increase of over 10%, while Alibabarose by more than 8%. Additionally, RoboSenseand Li Autoboth climbed over 4%, and Xiaomi Groupincreased by more than 3%.

CoinLive

HESAI-W

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Alibaba HK SDR 5to1

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Xiaomi Corporation

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Xiaomi HK SDR 2to1

Hong Kong Robot Concept Stocks Surge in Early Trading

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Yesterday's closing saw HESAI-W's stock price showing signs of a pullback, with a total trading volume of HKD 233 million, but buying pressure has weakened compared to previous periods. The MACD daily chart has established a bearish signal, which typically indicates that the momentum of the previous phase of rising has begun to wane, and the short-term trend is shifting from strong to weak. After the stock price fell below the 5-day moving average, it failed to quickly recover, showing insufficient willingness from bulls to support at the current position, leading to increased short-term profit-taking pressure. On the news front, the global intelligent driving industry chain has recently shown a divergence in performance. XPeng (9868.HK) slightly fell by 0.32% today, while Geely Automobile (175.HK) plummeted by 5.23%, putting overall pressure on the new energy vehicle sector. Goldman Sachs traders have warned that the rally in chip stocks has shown cracks, and the market has underestimated the leverage risks behind the technology sector, which has also created emotional suppression on the upstream lidar sector of the intelligent driving industry chain. As a leading global lidar supplier, HESAI's long-term logic remains solid, but the pressure from short-term profit-taking has begun to release after accumulating at high levels. From a technical perspective, the current 5-day moving average has started to turn downward; if the stock price continues to operate below this line today, the short-term bearish pattern will be further confirmed. The 10-day moving average constitutes a second key support level; if effectively broken, it may trigger more stop-loss orders. Attention should be paid to the overall trend of the technology sector and changes in the attitude of southbound capital. The short-term trend is referenced as bearish, with profit-taking after consecutive rises resonating with the cooling sentiment in the sector

Technical Forecast

Hwabao WP CSI Intelligent Electric Vehicle ETF

Fidelity Electric Vehicles and Future Transportation ETF

First Trust S-Network Future Vehicles & Tech ETF

SPDR S&P Kensho Smart Mobility ETF

Hua Xia CSI New Energy Vehicles ETF

XPENG-W

GEELY AUTO

Goldman Sachs

GEELY AUTO-R

GEELY AUTOMOBILE HOLDINGS LIMITED SPON ADS EACH REP 20 ORD

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Pre-market trend | HESAI-W (2525.HK) 5/13 high momentum waning, is the lidar leader under short-term pressure?

Hesai Group's shares, listed under the ticker, experienced a significant rise of over 5% in the Hong Kong stock market. According to Jin10, the trading volume exceeded 500,000 lots, indicating strong investor interest in the company.

Hesai Group Shares Surge Over 5% in Hong Kong

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Yesterday, HESAI-W's stock price surged by 6.05%, with a trading volume reaching HKD 232 million, showing a significant volume-price explosion. The MACD daily bullish signal has been strongly established, with momentum indicators rising sharply, and the histogram shifting from weak to strong in a steep and powerful rhythm, which usually indicates that the main funds are intensively building positions, and the signal for a phase of main upward wave initiation is very clear. On the market, the stock price gapped up and continued to rise throughout the day, with almost no significant pullback, completely crushing the shorts. On the news front, the intelligent driving sector continues to gain market favor. As a global leader in LiDAR supply, HESAI directly benefits from the accelerated commercialization of L3/L4 level autonomous driving. In the same sector, XPeng rose by 3.32%, Li Auto by 3.1%, and BYD by 1.82%, indicating a comprehensive warming of the new energy vehicle industry chain. Morgan Stanley has reassessed the strategic value of CATL's sodium battery, gaining institutional endorsement for the long-term growth logic of the new energy vehicle industry chain. Horizon Robotics rose by 3.28% yesterday, and the overall strengthening of the intelligent driving software and hardware ecosystem provides strong sector support for HESAI. From a technical perspective, HESAI's stock price has continuously risen from a low point, and with today's significant increase, it has effectively broken through the previous consolidation platform, shifting towards a bullish market. The strong trading volume accompanying the strengthening of stock price momentum suggests that there may be higher target price levels in the future. However, investors still need to be cautious of the pullback risks brought by rapid changes in market sentiment. The market generally holds an optimistic view on the long-term growth prospects of the LiDAR field

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Global X Autonomous & Electric V

ROBO Global Robotics

Global X Robotics & Artificial

ChinaAMC CSI Hong Kong Connect Automobile Industry Thematic ETF

VanEck Robotics ETF

ARK Autonomous Tech & Robotics ETF

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BYD HK SDR 10to1

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CATL HK SDR 30to1

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Pre-market trend | HESAI-W (2525.HK) surged over 6% on May 7, with strong capital inflow for the leading autonomous driving company!

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Yesterday's closing, JOYSON ELECTRONICS stock price slightly rose by 0.17%, with a trading volume of approximately HKD 80.78 million. The intraday fluctuations were limited, showing a narrow consolidation trend. MACD daily bullish signals have initially emerged, and the short-term moving averages are flattening with a slight upward tilt. Although a clear trend breakout has not yet formed, the bearish forces in the market have significantly weakened, and the bulls are in the early stages of brewing strength. The trading volume is relatively low, indicating that funds are still waiting for a clear direction. On the news front, the automotive parts sector has recently been boosted by expectations of the commercialization of intelligent driving and autonomous driving. In the same sector, Hesai-W surged by 6.05% yesterday, BYD rose by 1.82%, and Geely Auto increased by 0.62%, indicating a rebound in the automotive industry chain's heat. JOYSON ELECTRONICS focuses on automotive safety and intelligent cockpit fields, benefiting from the continuous increase in the penetration rate of new energy vehicles, which brings demand for parts upgrades. Morgan Stanley pointed out that the potential of CATL's sodium batteries is underestimated by the market, and the overall attention to the new energy vehicle industry chain is rising, indirectly benefiting upstream parts suppliers. From a technical perspective, the current stock price is operating in a narrow range within a densely packed area of short-term moving averages, with pressure above and support below, and the direction selection window is approaching. If the strong performance of Hesai can be sustained, it may improve the overall sentiment of the automotive parts sector. Attention should be paid to whether today's trading volume can rebound to above HKD 100 million. The short-term trend is considered neutral, and the technical signals are still in their infancy, requiring volume confirmation. If the sector continues to strengthen and trading volume effectively expands, the consolidation pattern is expected to break upward; conversely, a decrease in volume may lead to continued sideways movement

- Juntech Electronics saw a slight increase of 0.17% in its stock price, with a trading volume of around 80.78 million HKD, indicating a narrow consolidation phase.  
- The automotive parts sector is buoyed by expectations for the commercialization of smart and autonomous driving, with notable rises in related stocks such as Hesai-W and BYD.  
- While technical signals suggest a potential upward breakout could occur if trading volume exceeds 100 million HKD, investors are advised to make independent decisions due to market uncertainties.

JOYSON ELECTRONICS

JOYSON ELEC

Guotai CSI 800 Automobile and Parts ETF

ChinaAMC CSI Auto Components Thematic ETF

Ping An CSI Auto Components Thematic ETF

HFT CSI Auto Components Thematic ETF

E Fund CSI Auto Components Thematic ETF

Pre-market trend | JOYSON ELECTRONICS (0699.HK) stabilizes with reduced volume on 5/7, is the automotive parts sector waiting for a catalyst?

Bank of America Securities analyst Jessie Lo has maintained a Buy rating on Hesai Group Class B (2525) with a price target of HK$211.00, while the shares closed at HK$169.30. The analyst consensus is a Strong Buy with an average price target of HK$246.85, indicating a potential upside of 45.81%. DBS also supports a Buy rating with a target of HK$235.00.

Tip Ranks

Bank of America

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BANK OF AMERICA CORPORATION INCOME CAPITAL OBLIG NTS DUE 15/12/2066

BANK OF AMERICA CORPORATION 4.375% DP SH RP 1/1000TH IN NON CU PF NN

BANK OF AMERICA CORPORATION DEP SH REP 1/1200TH PRF SER 1 USD25

BANK OF AMERICA CORPORATION 5.375%DEP SHS REP 1/1000TH NON CUM SR KK

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Bank of America Corp

Hesai Group Class B (2525) Receives a Buy from Bank of America Securities

BofAS has cut its target price for HESAI-Wfrom HKD234 to HKD211 while maintaining a Buy rating. The firm anticipates a significant increase in shipment volume for 1Q26, projecting a rise of 104% to 130% YoY, reaching 400,000-450,000 units. Revenue is expected to grow by 24% to 33% YoY, totaling RMB650 million to RMB700 million. However, earnings may fall short due to seasonal factors and higher operating expenses, leading to a 7% reduction in the earnings forecast for the year.

AASTOCKS News

BofAS Cuts HESAI-W  TP to HKD211, Reiterates Buy

/C O R R E C T I O N -- Hesai Group/ | HSAI Stock News

StockTitan

/C O R R E C T I O N -- Hesai Group/ | HSAI Stock News

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0427 | Dolphin Research Focus: 🐬 Macro/Industry1) Last week, DeepSeek surprise-launched its flagship foundation model DeepSeek-V4 and fully open-sourced it, a key market catalyst. With AI advances as a tailwind, semis extended gains today: the Hong Kong Semiconductor Index jumped 5%+, led by SMIC and Hua Hong Semiconductor.The new model is tuned for domestic compute and pursues a non-CUDA stack, expanding edge-AI use cases and sustaining demand for local chips. Flows continue to pile into themes of self-reliant compute and domestic substitution...

DeepSeek-V4 open-sourced, igniting the AI compute supply chain; Tencent's QClaw rolls out a major update | Daily News Recap

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Hesai Group has filed its 2025 Annual and ESG Reports with the U.S. SEC, complying with reporting requirements as a foreign private issuer. The filing, signed by CEO Yifan Li, updates U.S. investors on financial performance and ESG disclosures. The latest analyst rating for HSAI stock is a Buy with a $29.30 price target, although Spark's AI Analyst rates it as Neutral due to weak technicals and mixed fundamentals. Hesai Group is based in Shanghai and listed in Hong Kong, with a market cap of $3.4B.

Roundhill Humanoid Robotics ETF

Themes Humanoid Robotics ETF

Hesai Group Files 2025 Annual and ESG Reports with U.S. SEC

Today’s Key News Recap

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POP MART

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Tencent Holdings Limited

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Hua Hong

Destiny Tech100

Oracle

ORACLE CORP DEPOSITARY SH REP 1/2000TH PFD SER D

MediaTek

DeepSeek

Qualcomm

Sungrow Power Supply

POP MART HK SDR 20to1

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Tencent HK SDR 10to1

SMIC

SMIC HK SDR 5to1

禾赛科技

Conference Minutes

Overall GPM is expected to remain resilient in 2026. Resilience should hold through the year.

Pony AI

PONY-W

HSAI (4Q25 Trans): 2026 shipment guidance raised to 3.0–3.5 mn units---

Financial Analysis

FY26 shipment guidance raised sharply to 3.0-3.5 mn units

Ouster

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HSAI: Worried About ASP Collapse? 'Tesla Castoff' Goes for Volume---

Hesai 4Q25 First Take: Results again showed high shipment growth driven by price compression. The company protected margins via solid cost control and issued upbeat 2026 shipment guidance. I. 4Q25 results: volumes up, prices down, profitability remained resilient 1) Revenue: RMB 1.0 bn, +39% YoY. This was at the low end of prior guidance (RMB 1.0–1.2 bn) and slightly below the RMB 1.08 bn consensus. Shipments: 631k units, +184% YoY, beating guidance (600k) and the 619k consensus. Growth was driven by robot LiDAR (80k units, above the 50k expected) and the continued ramp of ADAS LiDAR (550k units). ASP: RMB 1,557, down 51% YoY and 13% QoQ, well below the RMB 1,718 the market expected. This directly explains the revenue miss vs. consensus. Dolphin Research sees three main drivers of the faster ASP decline: a) Product mix shift: the low-priced 'thousand-yuan' ATX rose from 70% in Q3 to ~80% in Q4. It accelerated the replacement of the older AT128, which sells for multiples of that price. b) Proactive discounts: to defend share, the co. offered ATX discounts to key customers in Q4. This weighed on blended pricing. c) Robot mix: within robot shipments, the lower-priced JT series likely accounted for a higher share. This further dragged ASP. 2) Despite a sharp ASP decline, HSAI showed resilient profitability. Margin held up better than feared. GPM: 41.0%. This was above the 39.7% consensus and the company's 40% guide. We attribute this to scale benefits from higher volumes and ongoing cost downs from in-house ASICs, supply-chain optimization, and factory automation. These gains offset pricing pressure. 3) Net profit at the top end: GAAP net profit was RMB 150 mn, at the high end of guidance (RMB 70–170 mn). This was boosted by interest income and other gains (~RMB 120 mn). In Q4, HSAI received ~$6.4 mn (~RMB 45 mn) in IP arbitration compensation from Ouster. Excluding these items, core OP was ~RMB 40 mn (GP minus core Opex), slightly below the RMB 60 mn expected, mainly due to higher R&amp;D and S&amp;M QoQ. Overall, expense control remained disciplined. II. 2026 guidance: shipment targets raised materially Mgmt is upbeat on 2026, guiding well above prior market expectations. The tone signals confidence in volume growth. 2026 shipment guide: 3.0–3.5 mn units (+185%–216% YoY). This is a major step-up from the prior 2.0–3.0 mn range and is well above the 2.66 mn street. To support this, the co. plans to double annual capacity to 4.0 mn units from 2.0 mn in 2025. Q1 pricing likely stable to up: 2026 Q1 net revenue guidance is RMB 650–700 mn (+24%–33% YoY). Given Q1 is typically a seasonal trough for autos (about 12% of annual shipments historically), the midpoint of the full-year guide implies ~393k units in Q1. Back-solving implies a blended Q1 ASP of ~RMB 1,675, slightly above 4Q25's RMB 1,557. We think this reflects slower passenger-car LiDAR shipments in Q1 and a higher mix of higher-priced robot/industrial LiDAR. $Hesai(HSAI.US) $HESAI-W(02525.HK)

HUHESAI@EC2611A(29038.HK)

Hong Kong Robot Concept Stocks Surge in Early Trading

Pre-market trend | HESAI-W (2525.HK) 5/13 high momentum waning, is the lidar leader under short-term pressure?

Hesai Group Shares Surge Over 5% in Hong Kong

Pre-market trend | HESAI-W (2525.HK) surged over 6% on May 7, with strong capital inflow for the leading autonomous driving company!

Pre-market trend | JOYSON ELECTRONICS (0699.HK) stabilizes with reduced volume on 5/7, is the automotive parts sector waiting for a catalyst?