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<Research>CICC Initiates Coverage on HESAI-W w/ Rating Outperform; Robotics Unlocking Growth Potential
Recommend 2 Positive 6 Negative 1 |
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CICC has published a research report initiating coverage on HESAI-W (02525.HK) with an Outperform rating and a target price of HKD182.5. Its target price for Hesai (HSAI.US) was USD23.5. The report highlighted HESAI-W's status as the world's first and only profitable publicly listed LIDAR company. With its chip-based technology, self-built automated production capacity, and extensive customer resources, HESAI-W has established a core moat. In CICC's estimate, owing to the popularization of city navigation assistance functions, the beginning of the L3 deployment, and the decline in LIDAR prices, HESAI-W's shipments of automotive LIDAR in China will exceed 3 million units by 2025 and 10 million units by 2028, with a CAGR of 58%. Meanwhile, the robotics sector (such as lawn mowers and logistics robots) is becoming a new growth engine, while the overseas market is poised for a breakthrough. AAStocks Financial News |
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