Core Viewpoint - MSCI announced its quarterly index adjustments for February 2026, including the addition of 37 stocks to the MSCI China Index, reflecting international capital's recognition of China's growth in strategic emerging technology sectors such as artificial intelligence and new infrastructure [1][5]. Group 1: New Additions - The adjustment includes 37 new stocks, such as Xiaoma Zhixing (02026), Baiyin Nonferrous Metals (601212.SH), and Liou Co., Ltd. (002131.SZ), spanning various sectors including technology, energy, and finance [1]. - Among the new additions, four are Hong Kong stocks: Xiaoma Zhixing, SenseTime (00020), Hesai Technology (02525), and Changfei Optical Fiber (06869), which represent key components in the autonomous driving technology chain [1][3]. Group 2: Stocks Removed - A total of 16 stocks were removed from the index, primarily from traditional sectors such as real estate, finance, and automotive, including Zhejiang Huhangyong (00576) and China Communications Services (00552) [1][5]. - The removal of these stocks indicates a shift in market dynamics and a move towards enhancing the index's representation and liquidity [5].

Group 1 - Hesai Technology (02525) opened over 7% higher in early trading, with a current price increase of 7.19%, reaching HKD 214.60 and a trading volume of HKD 33.2041 million [1][5] - MSCI announced its quarterly index adjustments for February 2026, effective after market close on February 27, which includes the addition of Hesai among 37 new stocks and the removal of 16 stocks from the MSCI China Index [1][5] - According to a report from Citi, Hesai is projected to become the world's largest LiDAR supplier by revenue in 2024, with a monthly production and delivery capacity exceeding 200,000 units [1][5] Group 2 - The report highlights that LiDAR is increasingly becoming a standard safety feature in smart vehicles, with multi-LiDAR solutions gaining traction in the market for advanced driver assistance systems (ADAS) and autonomous driving [1][5] - Citi anticipates that Hesai will benefit significantly from the growing trend of LiDAR installations in vehicles due to its industry leadership and large-scale production capabilities [1][5]

Group 1 - Hesai Technology (禾赛科技) opened over 7% higher, currently up 7.49% at HKD 215.2, with a trading volume of HKD 8.0613 million [1] - MSCI announced its quarterly index adjustments for February 2026, effective after the market close on February 27, which includes the addition of Hesai among 37 new stocks and the removal of 16 stocks from the MSCI China Index [1] - According to a report from Citi, Hesai has become the world's largest lidar supplier by revenue for 2024, with a monthly production and delivery capacity exceeding 200,000 units [1] Group 2 - The adoption of lidar technology is becoming a standard safety feature in smart vehicles, with multi-lidar solutions becoming mainstream in advanced driver-assistance systems (ADAS) and autonomous driving markets [1] - Citi expects Hesai to benefit significantly from the increasing trend of lidar installations in vehicles due to its industry leadership and large-scale production capabilities [1]

Group 1 - The core viewpoint of the article highlights that Hesai Technology (禾赛-W, 02525) has seen a significant stock price increase of 7.49%, reaching HKD 215.2, following the announcement of its inclusion in the MSCI China Index [1][1][1] - MSCI announced its quarterly index adjustments, which will take effect after the market closes on February 27, 2026, adding 37 stocks and removing 16, with Hesai being one of the newly added stocks [1][1][1] - According to a report from Citi, Hesai Technology is projected to become the world's largest lidar supplier by 2024, with a monthly production and delivery capacity exceeding 200,000 units [1][1][1] Group 2 - The article notes that lidar technology is becoming a standard safety feature in smart vehicles, with multi-lidar solutions gaining traction in the market for advanced driver assistance systems (ADAS) and autonomous driving [1][1][1] - The expectation is that Hesai will benefit significantly from the increasing adoption of lidar in vehicles due to its industry leadership and large-scale production capabilities [1][1][1]

Core Viewpoint - Hesai Technology (02525.HK) experienced a significant increase in stock price, rising over 7% to reach 201.8 HKD, with a trading volume of 17.6045 million HKD [1] Group 1 - Hesai Technology's stock price increased by 7.07% as of the report time [1] - The current stock price is 201.8 HKD [1] - The trading volume reached 17.6045 million HKD [1]

消息面上，据禾赛科技官微消息，2月4日，全球激光雷达领导者禾赛科技宣布，与东南亚科技巨头Grab 达成战略合作。Grab将成为禾赛激光雷达产品在东南亚地区的独家经销商，全面负责该区域内的产品销 售、客户支持与市场推广工作。通过本次合作，禾赛和Grab将共同推动东南亚地区物理AI和具身智能 的发展。 （原标题：港股异动 | 禾赛-W(02525)涨超7% 近日与Grab达成战略合作 加速激光雷达在东南亚规模化应 用） 智通财经APP获悉，禾赛-W(02525)涨超7%，截至发稿，涨7.07%，报201.8港元，成交额1760.45万港 元。 德勤东南亚曾在研究报告中预计，东南亚地区对AI驱动的自动化需求将出现前所未有的激增，特别是 在制造业、交通运输业和物流行业。因此，激光雷达的应用预计将从早期验证阶段过渡到整个地区的大 规模商业部署。 ...

禾赛-W（02525）盘中涨超7%，截至发稿，股价上涨6.17%，现报199.70港元，成交额3284.52万港元。 据禾赛科技官微消息，2月4日，全球激光雷达领导者禾赛科技宣布，与东南亚科技巨头Grab达成战略合 作。Grab将成为禾赛激光雷达产品在东南亚地区的独家经销商，全面负责该区域内的产品销售、客户支 持与市场推广工作。通过本次合作，禾赛和Grab将共同推动东南亚地区物理AI和具身智能的发展。 德勤东南亚曾在研究报告中预计，东南亚地区对AI驱动的自动化需求将出现前所未有的激增，特别是 在制造业、交通运输业和物流行业。因此，激光雷达的应用预计将从早期验证阶段过渡到整个地区的大 规模商业部署。 客户端 客户端 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 禾赛-W（02525）盘中涨超7%，截至发稿，股价上涨6.17%，现报199.70港元，成交额3284.52万港元。 据禾赛科技官微消息，2月4日，全球激光雷达领导者禾赛科技宣布，与东南亚科技巨头Grab达成战略合 作。Grab将成为禾赛激光雷达产品在东南亚地区的独家经销商，全面负责该区域内的产品销售、客户支 持与市场推广工作。通过本次合作， ...

德勤东南亚曾在研究报告中预计，东南亚地区对AI驱动的自动化需求将出现前所未有的激增，特别是 在制造业、交通运输业和物流行业。因此，激光雷达的应用预计将从早期验证阶段过渡到整个地区的大 规模商业部署。 消息面上，据禾赛科技官微消息，2月4日，全球激光雷达领导者禾赛科技宣布，与东南亚科技巨头Grab 达成战略合作。Grab将成为禾赛激光雷达产品在东南亚地区的独家经销商，全面负责该区域内的产品销 售、客户支持与市场推广工作。通过本次合作，禾赛和Grab将共同推动东南亚地区物理AI和具身智能 的发展。 禾赛-W(02525)涨超7%，截至发稿，涨7.07%，报201.8港元，成交额1760.45万港元。 ...

第 1 頁 共 11 頁 v 1.2.0 | 2. 股份分類 | 不同投票權架構公司普通股 | 股份類別 | B | | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02525 | 說明 | B類普通股 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | | 法定/註冊股本 | | | 上月底結存 | | | 900,000,000 | USD | | 0.0001 | USD | | | 90,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | | 本月底結存 | | | 900,000,000 | USD | | 0.0001 | USD | | | 90,000 | 1. 股份分類 不同投票權架構公司普通股 股份類別 A 於香港聯交所上市 (註1) 否 證券代號 (如上市) N/A 說明 A類普通股 法定/註冊股份數目 面值 法定/註冊股本 上月底 ...

Core Viewpoint - The report from China Merchants Securities International predicts that the humanoid robot industry in China will experience significant growth by 2026 due to advancements in AI model capabilities, hardware technology maturity, cost reductions, and accelerated application scenarios, along with a surge in orders in the fourth quarter [1] Group 1: Recommended Companies - Recommended humanoid robot manufacturers include UBTECH Robotics (09880), Yujin Robot (02432), and Geek+ (02590) [1] - Cross-industry collaborative companies recommended are Tesla (TSLA.US) and Xpeng Motors (09868) [1] - Ecological companies to watch include Xiaomi Group (01810) and Midea Group (00300) [1] Group 2: Supply Chain Insights - The supply chain outlook is positive, focusing on technology convergence, with a favorable view on Minth Group (00425) in the Hong Kong stock market [1] - Companies expanding from intelligent driving to robotics, such as Hesai Technology (02525) and Horizon Robotics (09660), are also highlighted as promising [1] Group 3: Industry Trends - The humanoid robot industry in China is characterized by rapid incremental advancements and a full-chain explosion, particularly with the trend of large-scale production by overseas leaders by the end of the year [1] - Catalysts for growth include the release of Tesla's V3 and the listing of Yushu Technology, along with a significant number of new robot companies expected to go public in the Hong Kong market this year [1]