Haitong International: First Evergrass H Shares with a "Outperform the Market" rating and a target price of HKD 247.6.

Haitong International has released a research report stating that it has initiated coverage of Hesai H shares with an "outperform" rating, with a target price of HKD 247.6. The report mentions that Hesai is a global leader in LiDAR technology, with an estimated cumulative shipment of 1.6 million LiDAR units within the year, including 610,000 units in the fourth quarter. The bank predicts that the company's fourth quarter revenue will reach HKD 1.01 billion, with revenue projections for 2025-2027 at HKD 3.037 billion, HKD 4.439 billion, and HKD 5.735 billion respectively. The bank also forecasts a GAAP net profit of HKD 400 million for this year, with HKD 117 million in the fourth quarter.