Group 1 - Goldman Sachs reports that the adoption of LiDAR technology in the Chinese market is accelerating this year, with large-scale production expected globally by 2026-2027 [1] - The forecast indicates that by 2030, overseas ADAS LiDAR shipments will reach 3 million units, equivalent to the scale of the Chinese market in 2025 [1] - It is projected that by 2030, overseas ADAS customers will contribute 10% of Hesai's shipments, 20% of its revenue, and 23% of its gross profit, with a gross margin 10 percentage points higher than domestic products [1] Group 2 - Goldman Sachs predicts Hesai's revenue and net profit will reach 14 billion and 3 billion respectively by 2030, with a net profit margin of 21% [1] - The net profit forecast for 2026-2027 has been raised by 11% to 17% [1] - Goldman Sachs has initiated a "Buy" rating for Hesai's H-shares with a target price of 281 HKD, and has increased the target price for its US shares from 26.3 USD to 36 USD, maintaining a "Buy" rating [1]
大行评级｜高盛：首予禾赛H股“买入”评级及目标价281港元
Ge Long Hui·2025-09-23 03:53