On June 1, Hesai-W declined 5.19% in regular trading, trading at 150.0 HKD/share, with trading volume of approximately 18.07 million HKD. The decline was primarily driven by lingering concerns over the company's first-quarter earnings quality.
Hesai recently reported Q1 results showing revenue of RMB 681 million, up 29.6% year-over-year. However, gross margin contracted from 41.7% to 39.1%, while adjusted net profit plunged over 88% quarter-over-quarter from the prior quarter's peak. Notably, despite LiDAR shipment volume surging 140.9% year-over-year, the sharp decline in average selling price raised market doubts about earnings sustainability. Although the company secured a 200,000-unit exclusive LiDAR order from Jiushi recently, short-term financial data pressure continues to dominate market sentiment.
Sell-side analysts remain constructive on the stock. Huachuang Securities maintained a target price of HKD 249.39, while Haitong International set a target of HKD 247, citing expectations of over 40% full-year revenue growth and a projected Q2 revenue of RMB 870 million. Hesai holds a 55% share of China's passenger vehicle primary LiDAR market.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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