激光雷达龙头，开赴港股IPO

Core Insights - Hesai Technology, a leading global lidar company, has completed its listing process in Hong Kong, with plans to issue up to 51.2362 million shares [1] - The company focuses on the research and manufacturing of lidar technology, which is increasingly becoming a standard safety feature in smart vehicles [1][2] - The domestic lidar installation volume is expected to exceed 1.5 million units in 2024, marking a year-on-year increase of 179.7% [1] Company Performance - In Q2 2023, Hesai Technology achieved a revenue of 706 million yuan, representing a year-on-year growth of 53.9%, and a net profit of 44.1 million yuan, marking a turnaround from losses [2] - The total delivery volume of Hesai's lidar products in Q2 reached 352,000 units, a year-on-year increase of 306.9% [2] - By the first half of 2025, the total delivery volume is projected to reach 548,000 units, a year-on-year increase of 276.2%, surpassing the total for 2024 [2] Market Position and Collaborations - Hesai has established partnerships with 24 domestic and international automotive manufacturers, with significant collaborations with major players like BYD, Chery, Great Wall, and Changan [2] - The company is set to start large-scale production in Q1 2025, with its lidar products becoming standard safety components for numerous models [2] - The penetration of lidar technology in the automotive sector is expected to continue growing, supported by deep collaborations with key clients and a robust order book [3]