<p>美銀證券發佈研究報告稱，禾賽-W (02525.HK) +0.400 (+0.236%) 空頭頭寸為 3462 萬美元；比例為 36.684%。預計 2026 年第一季度出貨量同比增長 104% 至 130%，達到 400,000 至 450,000 台。收入預計同比增長 24% 至 33%，達到 6.5 億至 7 億人民幣。</p>
<p>然而，券商預計禾賽-W 在 2026 年第一季度的收益將因季節性因素和新業務開發帶來的運營費用增加而低於預期。因此，下調了全年收益預測 7%，將目標價從 234 港元下調至 211 港元，並重申買入評級。(sl/a)(香港股票報價延遲至少 15 分鐘。空頭數據截至 2026 年 5 月 5 日 16:25。)</p>
<p>本文由 AI 自動翻譯，中文版本應視為權威版本。AASTOCKS.com Limited 不保證其準確性或完整性，並對因使用此翻譯而產生的任何損害或損失不承擔任何責任。</p>

禾賽科技

禾賽-W

<p>BofAS 將禾賽-W 的目標價從 234 港元下調至 211 港元，同時維持買入評級。該公司預計 2026 年第一季度出貨量將大幅增長，預計同比增長 104% 至 130%，達到 40 萬至 45 萬台。收入預計同比增長 24% 至 33%，總計為 6.5 億至 7 億人民幣。然而，由於季節性因素和更高的運營費用，盈利可能會低於預期，導致全年盈利預測下調 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>美銀證券發佈研究報告稱，禾賽-W (02525.HK) +0.400 (+0.236%) 空頭頭寸為 3462 萬美元；比例為 36.684%。預計 2026 年第一季度出貨量同比增長 104% 至 130%，達到 400,000 至 450,000 台。收入預計同比增長 24% 至 33%，達到 6.5 億至 7 億人民幣。</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，券商預計禾賽-W 在 2026 年第一季度的收益將因季節性因素和新業務開發帶來的運營費用增加而低於預期。因此，下調了全年收益預測 7%，將目標價從 234 港元下調至 211 港元，並重申買入評級。(sl/a)(香港股票報價延遲至少 15 分鐘。空頭數據截至 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 自動翻譯，中文版本應視為權威版本。AASTOCKS.com Limited 不保證其準確性或完整性，並對因使用此翻譯而產生的任何損害或損失不承擔任何責任。</p>
</div>

BofAS Cuts HESAI-W  TP to HKD211, Reiterates Buy

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美銀證券將 HESAI-W 的目標價下調至 211 港元，並重申買入評級