Haitong International: First coverage of Hasa-W (02525.HK) with a "Outperform" rating, target price of HK$247.6

According to the Wise Wealth Financial APP, Haitong International has released a research report stating that it has initiated coverage on Hesai-W (02525.HK) H shares with an "outperform the market" rating and a target price of 247.6 Hong Kong dollars. Haitong International points out that Hesai is a global leader in LiDAR technology, and is expected to have a cumulative shipment of 1.6 million LiDAR units this year, with a shipment of 610,000 units in the fourth quarter. The bank predicts that the company's fourth quarter revenue will be 1.01 billion RMB, and its revenue for 2025-2027 will be 3.037 billion, 4.439 billion, and 5.735 billion RMB respectively. The bank also expects the company's GAAP net profit this year to be 400 million RMB, with 117 million RMB in the fourth quarter.