Core Viewpoint - Tudatong (02665) successfully went public through a reverse merger with TechStar, experiencing a significant stock price increase of over 70% during trading, closing at 16.43 HKD with a market capitalization exceeding 22 billion HKD [1] Company Overview - Tudatong specializes in the design, development, and production of automotive-grade LiDAR solutions, being the first globally to achieve mass production of high-performance automotive-grade LiDAR solutions [1] - The company is projected to deliver approximately 230,000 automotive-grade LiDAR units in 2024, ranking fourth globally in sales revenue for ADAS LiDAR solutions with a market share of 12.8% [1] Strategic Partnerships - The company has strengthened its collaboration with NIO while also securing contracts with three state-owned automotive manufacturers and a leading joint venture, which are expected to contribute to sales revenue starting from the end of 2025 [1] - Tudatong's product applications have expanded beyond passenger vehicles to include commercial vehicles and robotics, having secured mass production orders from industry leaders such as DeepWay, Shaanxi Heavy Duty Automobile, Wincher Technology, and Jiushi Intelligent [1]

Core Insights - Hesai Technology has officially produced its one millionth LiDAR unit by the end of September 2025, becoming the first company globally to achieve an annual production volume exceeding one million units [1] - As of Q2 2025, Hesai Technology has delivered over 1.37 million units in the ADAS and robotics sectors [1] - The company plans to have an annual production capacity exceeding two million units in 2025, with expected annual delivery volumes between 1.2 million and 1.5 million units [1]