Core Viewpoint - Haitong International initiates coverage of Hesai Technology (02525) with an "Outperform" rating and a target price of HKD 247.6, highlighting its position as a global leader in LiDAR technology [1] Group 1: Company Performance - Hesai is expected to achieve a total LiDAR shipment of 1.6 million units within the year, with 610,000 units projected for the fourth quarter [1] - The company's estimated revenue for the fourth quarter is RMB 1.01 billion [1] - Forecasted revenues for 2025, 2026, and 2027 are RMB 3.037 billion, RMB 4.439 billion, and RMB 5.735 billion respectively [1] Group 2: Profitability - The company is anticipated to report a GAAP net profit of RMB 400 million for the year, with RMB 117 million expected in the fourth quarter [1]
海通国际：首次覆盖禾赛-W予“优于大市”评级 目标价247.6港元