Core Viewpoint - The inclusion of Seyond Tuda (02665.HK) in the Hong Kong Stock Connect will facilitate direct trading by mainland A-share investors and institutions, potentially attracting more investors and capital inflow [3]. Group 1: Company Overview - Seyond Tuda, established in 2016, is a leading provider of image-level LiDAR solutions globally, with products widely used in smart vehicles, autonomous driving, robotics, and smart transportation [3]. - The company has demonstrated strong performance, with a significant increase in gross margin in the first five months of 2025, alongside a notable reduction in sales costs, indicating effective cost reduction and efficiency improvement [4]. Group 2: Product and Market Position - As of the end of 2025, Seyond Tuda's ultra-long-range LiDAR "Hunting Eagle" series has achieved cumulative deliveries exceeding 600,000 units, reinforcing its position in the high-end market and highlighting its scale advantages [4]. - The company has developed a comprehensive product matrix with dual technology routes of 1550nm and 905nm/940nm, enabling full-scene solution capabilities from L2-level assisted driving to L4-level autonomous driving [4]. - Seyond Tuda has secured contracts with 14 major manufacturers and ADAS/ADS companies, including NIO, GAC, and SAIC Volkswagen, and is set to enter mass production in 2026, providing strong momentum for future revenue growth [4].