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<Research>CMBI Lifts Hesai's TP to USD26.7 on Strong Biz Outlook
Recommend 10 Positive 21 Negative 16 |
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Hesai (HSAI.US) has released its 3Q25 results, showing that its total revenue grew by 47% YoY to RMB795.4 million, 1.4% higher than market expectations, while its non-GAAP net profit amounted to RMB288 million, according to CMBI's research report. In light of the better-than-expected 3Q25 results, Hesai's management has raised the 2025 GAAP net profit guidance from the original RMB200-350 million to RMB350-450 million and remains optimistic about the company's business development prospects. In the management's estimate, the total shipment of LiDARs will reach at least 2-3 million units in 2026, and it could go even higher if the adoption of L3-level autonomous driving becomes an industry trend. In this scenario, the shipment volume of robotic LiDAR is anticipated to double YoY in 2026. CMBI has elevated its target price for Hesai from USD16.3 to USD26.7 and kept the Buy rating unchanged. AAStocks Financial News |
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