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<Research>BofAS Reiterates Buy on HESAI-W, Lowers TP to HKD234
Recommend 3 Positive 6 Negative 2 |
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HESAI-W (02525.HK)'s 4Q25 revenue was lower than expected, according to a report from BofA Securities. It grew by 39% YoY to RMB1 billion, 19% below the broker's forecast. In contrast, the gross margin remained solid at 41%. During the period, HESAI-W's net profit grew by 4% YoY but sank by 40% QoQ to RMB153 million, falling short of BofA Securities' expectations by 9%, mainly due to a one-time gain from the sale of equity investments in 3Q25. BofA Securities has reiterated a Buy rating on HESAI-W but reduced its target price from HKD250 to HKD234. AAStocks Financial News |
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