The Zhitong Finance App learned that Huachuang Securities released a research report saying that Hesai-W (02525.HK), as a leader in the global lidar industry, benefits from the advancement of L2+/L3/L4 regulations, and is expected to continue to seize domestic and foreign market share and achieve rapid scale expansion. At the same time, the robotic lidar industry has broad space and is expected to become the company's second growth curve. The bank expects the company to 2025-27:1) operating income of 30.30, 41.77, 5.823 billion yuan, +46%, +39% year-on-year; 2) net profit of 3.58, 4.88, 887 million yuan, which turned a year-on-year loss into profit, +36%, +82%; 3) non-GAAP net profit of 4.786.02, 995 million yuan, +33.9 times, +26%, +65%; 4) EPS 2.29, 3.13, and 5.68 yuan will use the PS valuation method, corresponding to 2026 The target market value is $33.4 billion, target space of 35%, and target price of HK$235.93. It was covered for the first time, giving it a “strong push” rating.

The Zhitong Finance App learned that Huachuang Securities released a research report saying that Hesai-W (02525.HK), as a leader in the global lidar industry, benefits from the advancement of L2+/L3/L4 regulations, and is expected to continue to seize domestic and foreign market share and achieve rapid scale expansion. At the same time, the robotic lidar industry has broad space and is expected to become the company's second growth curve. The bank expects the company to 2025-27:1) operating income of 30.30, 41.77, 5.823 billion yuan, +46%, +39% year-on-year; 2) net profit of 3.58, 4.88, 887 million yuan, which turned a year-on-year loss into profit, +36%, +82%; 3) non-GAAP net profit of 4.786.02, 995 million yuan, +33.9 times, +26%, +65%; 4) EPS 2.29, 3.13, and 5.68 yuan will use the PS valuation method, corresponding to 2026 The target market value is $33.4 billion, target space of 35%, and target price of HK$235.93. It was covered for the first time, giving it a “strong push” rating.