Core Viewpoint - The report from CICC highlights Hesai's latest achievements in lidar technology showcased at CES 2026, along with updates on delivery volume, production capacity, and strategic partnerships, indicating a strong position in the industry [1] Group 1: Company Performance - Hesai's mass production delivery capability is leading the industry [1] - The company is steadily advancing its domestic and international production capacity [1] - The L3 model has received approval from the Ministry of Industry and Information Technology, which is expected to increase the number of lidar units per vehicle [1] Group 2: Market Outlook - The next wave of physical AI, including Robotaxi and robotics, positions lidar as a key driver [1] - CICC maintains its revenue forecast for Hesai for 2025 while raising the 2026 revenue forecast by 6.4% to 4.53 billion yuan and introducing a new revenue forecast of 6 billion yuan for 2027 [1] Group 3: Investment Rating - CICC maintains a "outperform" rating for Hesai, considering the upward shift in valuation for the intelligent driving and robotics sectors [1] - The target price for Hesai's Hong Kong stock is raised to 241.1 HKD, and the target price for its US stock is raised to 31.56 USD [1]
研报掘金｜中金：上调禾赛港股目标价至241.1港元 维持“跑赢行业”评级
Ge Long Hui·2026-01-09 03:22