<p>美银证券发布研究报告称，禾赛-W (02525.HK) +0.400 (+0.236%) 空头头寸为 3462 万美元；比例为 36.684%。预计 2026 年第一季度出货量同比增长 104% 至 130%，达到 400,000 至 450,000 台。收入预计同比增长 24% 至 33%，达到 6.5 亿至 7 亿人民币。</p>
<p>然而，券商预计禾赛-W 在 2026 年第一季度的收益将因季节性因素和新业务开发带来的运营费用增加而低于预期。因此，下调了全年收益预测 7%，将目标价从 234 港元下调至 211 港元，并重申买入评级。(sl/a)(香港股票报价延迟至少 15 分钟。空头数据截至 2026 年 5 月 5 日 16:25。)</p>
<p>本文由 AI 自动翻译，中文版本应视为权威版本。AASTOCKS.com Limited 不保证其准确性或完整性，并对因使用此翻译而产生的任何损害或损失不承担任何责任。</p>

禾赛科技

禾赛-W

<p>BofAS 将禾赛-W 的目标价从 234 港元下调至 211 港元，同时维持买入评级。该公司预计 2026 年第一季度出货量将大幅增长，预计同比增长 104% 至 130%，达到 40 万至 45 万台。收入预计同比增长 24% 至 33%，总计为 6.5 亿至 7 亿人民币。然而，由于季节性因素和更高的运营费用，盈利可能会低于预期，导致全年盈利预测下调 7%</p>

<p>BofAS issued a research report stating that HESAI-W (02525.HK) +0.400 (+0.236%)  Short selling $34.62M; Ratio 36.684%  expects shipment volume in 1Q26 to increase by 104% to 130% YoY to 400,000450,000 units. Revenue is projected to rise by 24% to 33% YoY to RMB650 millionRMB700 million.</p>
<div class="lb-trans"><p>美银证券发布研究报告称，禾赛-W (02525.HK) +0.400 (+0.236%) 空头头寸为 3462 万美元；比例为 36.684%。预计 2026 年第一季度出货量同比增长 104% 至 130%，达到 400,000 至 450,000 台。收入预计同比增长 24% 至 33%，达到 6.5 亿至 7 亿人民币。</p>
</div><p>However, the broker expects HESAI-Ws earnings in 1Q26 to fall short of expectations due to seasonal factors and increased operating expenses from new business development. As a result, it lowered its earnings forecast for the year by 7%, reduced the TP from HKD234 to HKD211, and reiterated the Buy rating. (sl/a)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-05 16:25.)</p>
<div class="lb-trans"><p>然而，券商预计禾赛-W 在 2026 年第一季度的收益将因季节性因素和新业务开发带来的运营费用增加而低于预期。因此，下调了全年收益预测 7%，将目标价从 234 港元下调至 211 港元，并重申买入评级。(sl/a)(香港股票报价延迟至少 15 分钟。空头数据截至 2026 年 5 月 5 日 16:25。)</p>
</div><p>This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.</p>
<div class="lb-trans"><p>本文由 AI 自动翻译，中文版本应视为权威版本。AASTOCKS.com Limited 不保证其准确性或完整性，并对因使用此翻译而产生的任何损害或损失不承担任何责任。</p>
</div>

BofAS Cuts HESAI-W  TP to HKD211, Reiterates Buy

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美银证券将 HESAI-W 的目标价下调至 211 港元，并重申买入评级