Core Viewpoint - The report from CMB International indicates that the mainland market is entering a phase of policy validation and profit recovery as the "14th Five-Year Plan" begins. The evolution of pricing power structure is attracting long-term capital back to new core assets [1] Group 1: Key Variables for January - Three major variables to focus on in January include: 1) the first batch of major projects and revenue-increasing policy details under the "14th Five-Year Plan" [1] 2) overseas liquidity [1] 3) consumer data and seasonal liquidity before the Spring Festival holiday [1] Group 2: Investment Strategy - The company suggests focusing on "domestic demand reconstruction" and "resilience in overseas markets," balancing offensive and defensive strategies [1] - Selected stocks for January include: 1) Prosperity Industrial Trust (00778) [1] 2) NVIDIA (NVDA.US) [1] 3) Hesai Technology (02525) [1] 4) Sangfor Technologies (01530) [1] 5) Yili Group (600887.SH) [1] 6) GCL-Poly Energy (03800) [1]

Core Viewpoint - Hesai Technology (02525) announced the resignation of Dr. Chen Jie as an independent non-executive director and member of the audit committee, remuneration committee, and nomination and corporate governance committee, effective December 24, 2025. Dr. Wang Hui has been appointed as an independent non-executive director and member of the same committees [1] Group 1 - Dr. Chen Jie will resign from his positions effective December 24, 2025 [1] - Dr. Wang Hui has been appointed to the board and committees [1]

格隆汇12月24日丨禾赛-W(02525.HK)布，自2025年12月24日起：(1) 陈劼已辞任独立非执行董事以及审 计委员会、薪酬委员会及提名及企业管治委员会各自的成员；及(2) 王慧已获委任为独立非执行董事以 及审计委员会、薪酬委员会及提名及企业管治委员会各自的成员。继相关董事辞任及委任后，自2025年 12月24日起，董事委员会的组成经已变动。 ...

Core Viewpoint - Heisai-W (02525) announced the resignation of Dr. Chen Jie as an independent non-executive director and member of the audit committee, remuneration committee, and nomination and corporate governance committee, effective December 24, 2025. Dr. Wang Hui has been appointed as an independent non-executive director and member of the same committees [1] Group 1 - Dr. Chen Jie will resign from his positions effective December 24, 2025 [1] - Dr. Wang Hui has been appointed to fill the role of independent non-executive director and committee member [1] - The changes involve the audit committee, remuneration committee, and nomination and corporate governance committee [1]

Hesai Group 禾賽科技 * （「本公司」） （於開曼群島註冊成立以不同投票權控制的有限責任公司） （港交所股份代號：2525） （納斯達克股票代碼：HSAI） 董事名單及其角色與職能 獨立非執行董事 張懌女士 王慧博士 任佳先生 董事會已設立三個委員會，並訂明章程。該等委員會的成員資料載列如下： 審計委員會 張懌女士 （主席） 任佳先生 王慧博士 薪酬委員會 張懌女士 （主席） 王慧博士 提名及企業管治委員會 禾賽科技（「本公司」）董事（「董事」）會（「董事會」）成員載列如下： 執行董事 李一帆博士 孫愷博士 向少卿先生 楊彩蓮女士 張懌女士 （主席） 任佳先生 王慧博士 香港，2025年12月24日 * 僅供識別 本文件的中英文版本如有歧義，概以英文版本為準。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 Hesai Group 陳博士已確認，彼與董事會概無意見分歧，亦無有關彼辭任的事宜須提請本公司 股東垂注。 （納斯達克股票代碼：HSAI） (1)獨立非執行董事變更； 及 (2)董事委員會組成變更 董事會謹此宣佈，自2025年12月24日起： 繼相關董事辭任及委任後，自2025年12月24日起，董事委員會的組成經已變 動。 獨立非執行董事辭任 禾賽科技（「本公司」，連同其附屬公司統稱「本集團」）董事（「董事」）會（「董事 會」）謹此宣佈，陳劼博士（「陳博士」）因其他業務承擔，已辭任獨立非執行董事以 及本公司審計委員會（「審計委員會」）、薪酬委員會（「薪酬委員會」）及提名及企業 管治委員會（「提名及企業管治委員會」）各自的成員，自2025年12月24日起生效。 禾賽科技 * （於開曼群島註冊成立以不同投票權控制的有限責任公司） （港交所股份代號：2525） 董事會謹此就陳博士於任期內為本公司作出的寶貴努力及 ...

Group 1 - The stock of Hesai Technology (02525.HK) increased by nearly 3% during trading, with a current rise of 2.92% to HKD 179.7 [1] - The trading volume reached HKD 21.0011 million [1]

Core Viewpoint - Hesai Technology has announced a strategic partnership with Meituan's drone division, marking a significant advancement in the integration of lidar technology with low-altitude logistics, which is expected to drive the commercialization of the low-altitude economy [1] Group 1: Company Developments - Hesai Technology's stock rose over 3% during trading, with a current price of 179.7 HKD and a trading volume of 21.01 million HKD [1] - The second-generation solid-state lidar FTX has been officially designated for mass production by Meituan's drone division [1] Group 2: Industry Impact - The collaboration signifies a major breakthrough for both companies in promoting the industrialization of the low-altitude economy [1] - Meituan's newly launched fourth-generation long-range drone, M-Drone4L, features the FTX lidar as part of its standard equipment, enhancing its perception and positioning capabilities [1] - The drone is equipped with a comprehensive sensing system that includes 10 sensors, enabling all-weather precise positioning and navigation, thereby improving safety for nighttime deliveries [1]

禾赛-W(02525)盘中涨超3%，截至发稿，涨2.92%，报179.7港元，成交额2100.11万港元。 消息面上，据禾赛科技官微消息，2025年12月19日，公司宣布与美团无人机达成战略合作，禾赛科技第 二代纯固态感知定位激光雷达FTX正式获得美团无人机量产定点。这一合作不仅实现了激光雷达技术与 低空物流场景的深度融合，更标志着两家行业领军企业联手推动低空经济产业化落地的重要突破。 据介绍，美团无人机重磅发布的第四代无人机长程版M-Drone4L，作为行业首次突破，标配了用于感知 定位的激光雷达，其全向感知系统搭载包括1颗纯固态感知定位激光雷达FTX在内的10路传感器，结合 视觉、GNSS进行多模态融合，可实现全天时的精准定位与导航，让夜间配送更安全。 ...

Core Viewpoint - The news highlights the significant progress in China's autonomous driving sector, particularly the issuance of the first L3-level highway autonomous vehicle license plates, marking a transition from testing to mass production in the industry [1] Group 1: Market Performance - Most intelligent driving concept stocks have risen, with Zhejiang Shibao (01057) up 8.25% to HKD 5.12, Youjia Innovation (02431) up 5.25% to HKD 14.23, Hezhima Intelligent (02533) up 2.02% to HKD 19.68, and Hesai-W (02525) up 1.2% to HKD 176.7 [1] Group 2: Regulatory Developments - On December 23, Beijing issued the first L3-level highway autonomous vehicle license plates to three BAIC Arcfox intelligent connected vehicles, marking a significant milestone in the country's autonomous driving development [1] - The Ministry of Industry and Information Technology previously announced the first batch of L3-level conditional autonomous driving vehicle approvals, including models from Changan and BAIC Blue Valley [1] Group 3: Industry Implications - According to CMB International, advanced driver assistance systems are becoming a crucial factor in Chinese consumers' vehicle purchasing decisions, with some automakers already capable of producing L3-level intelligent driving solutions and vehicles [1] - The formal implementation of L3-level autonomous driving regulations is expected to be a key catalyst for industry development by 2026, warranting close monitoring [1]