大行评级丨海通国际：首予禾赛H股“优于大市”评级及目标价247.6港元

Group 1 - The core viewpoint of the report is that Hesai Technology is a global leader in LiDAR technology, and it has been given an "outperform" rating with a target price of HKD 247.6 [1] - Hesai is expected to ship a total of 1.6 million LiDAR units within the year, with 610,000 units projected for the fourth quarter [1] - The estimated revenue for Hesai in the fourth quarter is projected to be CNY 1.01 billion, with expected revenues for 2025, 2026, and 2027 being CNY 3.037 billion, CNY 4.439 billion, and CNY 5.735 billion respectively [1] Group 2 - The company is anticipated to achieve a GAAP net profit of CNY 400 million for the year, with a fourth-quarter net profit forecast of CNY 117 million [1]