Market Overview - The Hang Seng Index fell by 0.92%, down 238 points, closing at 25,737 points, while the Hang Seng Tech Index dropped by 1.79% [1] - The early trading volume in the Hong Kong stock market was HKD 108.2 billion [1] Gold Sector - Gold stocks rose against the market trend due to increased central bank purchases and growing investment demand, with Zijin Mining International (02259) up 6.94% and Chifeng Jilong Gold Mining (06693) up 3% [1] Resource Sector - Jiexin International Resources (03858) increased by over 6% as tungsten prices reached new highs, with institutions expecting a continued upward trend across the entire industry chain [2] - Chinese securities firms, including China Merchants Securities (06099) and Dongwu Securities, saw stock price increases due to announcements of higher margin trading limits [2] Insurance Sector - Domestic insurance stocks continued to rise, with expectations of double-digit growth in new business premiums and NBV, leading to Xinhua Insurance (01336) rising nearly 4% and China Pacific Insurance (02601) up 2.6% [2] Sportswear Sector - The sportswear sector saw collective gains, with Yuyuan Group (00551) up 6% and Li Ning (02331) up 5%, attributed to improved textile and apparel exports in November [2] Dairy Sector - Dairy stocks were active, with Yuran Dairy (09858) rising over 6% and Modern Dairy (01117) up over 5%, following government efforts to boost consumption [2] Technology Sector - Goldwind Technology (02208) rose over 4% as the market showed interest in commercial aerospace concepts, with institutions optimistic about the wind power equipment landscape [3] Pharmaceutical Sector - The pharmaceutical sector faced declines, with the Hang Seng Biotechnology Index down 3.95% and the Hang Seng Innovative Drug Index down 3.83%, highlighted by a drop of over 8% for Gilead Sciences (01672) [4] Optical Communication Sector - The optical communication sector experienced a significant downturn, with Yangtze Optical Fibre and Cable (06869) falling over 8% due to Oracle's delay in OpenAI data center construction [5] Semiconductor Sector - Concerns over an AI bubble resurfaced, leading to declines in semiconductor stocks, with Hua Hong Semiconductor (01347) down over 6% and SMIC (00981) down over 2% [6]

Market Overview - The Hang Seng Index fell by 0.92%, down 238 points, closing at 25,737 points, while the Hang Seng Tech Index dropped by 1.79% [1] - The trading volume in the Hong Kong stock market reached HKD 108.2 billion in the morning session [1] Gold Sector - Gold stocks rose against the market trend due to increased central bank purchases and growing investment demand, with Zijin Mining International up by 6.94% and Chifeng Jilong Gold Mining up by 3% [1] Resource Sector - Jiexin International Resources surged over 6% as tungsten prices hit a new high, with institutions expecting a continued upward trend across the entire industry chain [2] - Chinese brokerage firms, including Changjiang Securities and Dongwu Securities, announced increases in margin financing limits, leading to a rise in Chinese brokerage stocks, with China Merchants Securities up by 3.77% and Orient Securities up by over 2% [2] Insurance Sector - Domestic insurance stocks continued to rise, with expectations of double-digit growth in new policy premiums and NBV, as New China Life Insurance increased by nearly 4% and China Pacific Insurance rose by 2.6% [2] Sportswear Sector - The sportswear sector saw collective gains, attributed to improved textile and apparel exports in November, with Yue Yuen Industrial up by 6% and Li Ning up by 5% [2] Dairy Sector - Dairy stocks were active as three departments announced stronger measures to boost consumption, with You Ran Dairy up by over 6% and Modern Dairy up by over 5% [2] Technology Sector - Goldwind Technology rose over 4% as the market showed enthusiasm for commercial aerospace concepts, with institutions optimistic about the wind power equipment landscape [3] Pharmaceutical Sector - The pharmaceutical sector faced significant declines, with the Hang Seng Biotechnology Index down by 3.95% and the Hang Seng Innovative Drug Index down by 3.83%, highlighted by a drop of over 8% in Gilead Sciences [4] Optical Communication Sector - The optical communication sector experienced a broad decline, with Yangtze Optical Fibre and Cable falling by over 8% following Oracle's delay in OpenAI data center construction [5] Semiconductor Sector - Concerns over an AI bubble resurfaced, leading to declines in semiconductor stocks, with Hua Hong Semiconductor down by over 6% and SMIC down by over 2% [6]

上市第四个交易日，全球图像级激光雷达解决方案提供商图达通(2665.HK)再度拉升大涨近20%，报 17.85港元，再创上市新高，市值升至超230亿港元。 本文源自：金融界AI电报 ...

Core Viewpoint - Tudatong (02665) has seen a significant increase in stock price, rising over 20% in the afternoon trading session, with a current price of 14.55 HKD and a trading volume of 24.6996 million HKD [1] Group 1: Company Overview - Tudatong is a global provider of image-level LiDAR solutions and is recognized as a leading company in the LiDAR industry [1] - The company has achieved several industry-leading accomplishments due to its technological breakthroughs and mass production capabilities [1] Group 2: Market Position and Achievements - According to Zhaoshang Consulting data, Tudatong is the first supplier globally to achieve mass production of automotive-grade high-performance LiDAR solutions [1] - From 2022 to 2024, Tudatong ranks second globally in cumulative sales revenue for ADAS LiDAR solutions [1] Group 3: Product Applications and Orders - Tudatong's product applications have expanded from passenger vehicles to commercial vehicles and robotics, indicating a broader market reach [1] - The company has secured large-scale orders from leading industry players such as Deepway, Shaanxi Heavy Duty Automobile, Wincher Technology, and Jiushi Intelligent [1] - Industry insiders suggest that this demonstrates Tudatong's reliable technology and readiness for a second growth curve [1]

Core Viewpoint - Tudatong (02665) has seen a significant increase in stock price, rising over 20% in the afternoon trading session, with a current price of 14.55 HKD and a trading volume of 24.6996 million HKD [1] Group 1: Company Overview - Tudatong is a global provider of image-level LiDAR solutions and is recognized as a leading company in the LiDAR industry [1] - The company has achieved several industry-leading milestones due to its technological breakthroughs and mass production capabilities [1] Group 2: Market Position and Achievements - According to Zhaoshang Consulting data, Tudatong is the first supplier globally to achieve mass production of automotive-grade high-performance LiDAR solutions [1] - From 2022 to 2024, Tudatong ranks second globally in cumulative sales revenue for ADAS LiDAR solutions [1] Group 3: Product Applications and Orders - Tudatong has expanded its product applications beyond passenger vehicles to commercial vehicles and robotics, indicating a broader market reach [1] - The company has secured large-scale orders from leading industry players such as Deepway, Shaanxi Heavy Duty Automobile, Wincher Technology, and Jiushi Intelligent [1] - Industry insiders suggest that these developments indicate Tudatong's reliable technology and readiness for a second growth curve [1]

Core Viewpoint - Tuda Technology (2665.HK) experienced a significant surge of over 20%, reaching HKD 16.01, highlighting its strong market performance and investor interest [1] Company Overview - Tuda Technology is a leading global provider of image-grade LiDAR solutions, recognized for its technological breakthroughs and mass production capabilities [1] - The company is the first in the world to achieve mass production of automotive-grade high-performance LiDAR solutions [1] Financial Performance - Tuda Technology's revenue has shown steady growth, with total revenue increasing from USD 66.3 million in 2022 to USD 159 million in 2024, reflecting a compound annual growth rate (CAGR) of 55.1% [1] Market Expansion - The application of Tuda Technology's products has expanded beyond passenger vehicles to commercial vehicles and robotics, indicating a broader market reach [1] - The company has secured large-scale orders from industry leaders such as Deepway, Shaanxi Heavy Duty Automobile, Wincher Technology, and Jiushi Intelligent, demonstrating its reliable technology and readiness for the next growth phase [1]

Core Viewpoint - Tuda Technology (2665.HK) experienced a significant surge of over 20%, reaching HKD 16.01, highlighting its strong market position as a leading provider of image-grade LiDAR solutions [1] Group 1: Company Overview - Tuda Technology is recognized as a top-tier company in the LiDAR industry, achieving multiple industry-leading milestones due to its technological breakthroughs and mass production capabilities [1] - The company is the first globally to achieve mass production of automotive-grade high-performance LiDAR solutions [1] Group 2: Financial Performance - Tuda Technology's revenue has shown steady growth, with total revenue increasing from USD 66.3 million in 2022 to USD 159 million in 2024, reflecting a compound annual growth rate (CAGR) of 55.1% [1] Group 3: Market Expansion - The application of Tuda Technology's products has expanded beyond passenger vehicles to commercial vehicles and robotics, indicating a broader market reach [1] - The company has secured large-scale orders from leading industry players such as Deepway, Shaanxi Heavy Duty Truck, Wincher Technology, and Jiushi Intelligent, demonstrating its reliable technology and readiness for the next growth phase [1]

Core Viewpoint - Seyound Tuda Technology (2665.HK), a global provider of image-grade LiDAR solutions, officially listed on the Hong Kong Stock Exchange via a De-SPAC process on December 10, with its stock price surging over 50% to HKD 15.66, resulting in a market capitalization exceeding HKD 20 billion [1]. Company Overview - Founded in 2016, Seyound Tuda has established itself as a leading player in the LiDAR industry, achieving several industry-leading milestones through technological breakthroughs and mass production capabilities [1]. - Seyound Tuda is recognized as the world's first supplier to achieve mass production of automotive-grade high-performance LiDAR solutions, ranking second globally in cumulative sales revenue for ADAS LiDAR solutions from 2022 to 2024 [1]. Financial Performance - The company has demonstrated steady revenue growth and improving profitability. According to the latest prospectus, Seyound Tuda delivered approximately 181,000 automotive-grade LiDAR units in the first nine months of 2025, reflecting a year-on-year growth of 7.7% [1]. - In the first five months of 2025, the company achieved a gross margin of 12.9%, indicating a positive cycle in product profitability [1].

Core Viewpoint - Seyound Tuda Technology (2665.HK) has officially listed on the Hong Kong Stock Exchange through a De-SPAC process, marking a significant milestone in the global automotive-grade LiDAR sector [1] Company Summary - Seyound Tuda Technology raised approximately HKD 1.027 billion during its listing, becoming the third company to successfully go public via SPAC in Hong Kong [1] - The stock initially surged by 13%, reaching HKD 11.3, with a market capitalization exceeding HKD 14.6 billion [1] - Founded in 2016 by Dr. Bao Junwei and Dr. Li Yimin, Seyound Tuda is recognized as a leading player in the LiDAR industry, achieving several industry-leading milestones [1] - The company is the first globally to achieve mass production of automotive-grade high-performance LiDAR solutions, ranking second in cumulative sales revenue for ADAS LiDAR solutions from 2022 to 2024 [1] Industry Summary - The successful listing of Seyound Tuda signifies a new development phase in the global automotive-grade LiDAR field, emphasizing the essential role of LiDAR technology in future automotive applications [1] - CEO Bao Junwei stated that LiDAR is not an option but a necessity, predicting its importance and growth will surpass expectations [1]