Hesai(US:HSAI)2025-06-03 01:45Summary of the Conference Call Industry Overview - The focus is on the controller sector and its recovery potential, particularly in the context of laser radar and robotics industries [1][2]. Key Points 1. The controller sector has experienced significant overselling, with a notable improvement in the underlying fundamentals, indicating potential for both performance and valuation recovery [1][2]. 2. Historical analysis over the past decade shows that the stock performance of representative companies in the controller sector, such as He Tai and Tuo Bang, is highly sensitive to earnings and raw material price fluctuations [1][2]. 3. External factors have impacted the sector, but Q1 earnings have begun to show signs of recovery [1][2]. 4. The stock price elasticity is high under thematic catalysts, suggesting potential for significant price movements [1][2]. Company-Specific Insights - He Sai Technology: Reported a delivery volume of nearly 200,000 units in Q1, representing a year-on-year increase of 231% [1][2]. - Su Teng Ju Chuang: Continues to narrow its net losses, with promising orders in the broader robotics sector [1][2]. Additional Important Information - The laser radar segment is identified as a "second growth curve" for the robotics field, particularly in consumer-grade robotics, indicating a shift in market dynamics and potential growth opportunities [1][2].