Hesai Jumps 5% in Overnight Trading While Gains 7% in Hong Kong on Release of Self-Developed RISC-V LiDAR Main Control Chip "FMC500"

Tiger Newspress12-04

Hesai stock jumped 5% in overnight trading while gained 7% in Hong Kong market on Thursday.

Hesai recently announced the release of its high-performance intelligent main control chip “FMC500” based on the RISC-V architecture, along with the world's only “photon isolation” safety technology and the revamped 256-line safety LiDAR ATX. So far, the “photon isolation technology” has been fully integrated into Hesai's main LiDAR products such as ATX and ETX.

CICC initiated coverage on Hesai's H shares with an Outperform rating and a target price of HKD182.5, citing its leading market share and the milestone achievement of becoming the first and only publicly listed LiDAR company to achieve profit in 4Q24.

The company has built three core competitive advantages: chip technology, self-built automated production capacity, and extensive customer resources. The industry is also entering a period of rapid growth, CICC said.

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