禾赛科技_评估海外高级驾驶辅助系统（ADAS）潜力并转向长期估值；上调ADR目标价，首次覆盖 H 股给予买入评级

22 September 2025 | 6:43PM CST Hesai Group (HSAI/2525.HK) Sizing overseas ADAS potential and moving to long-term valuation; raise ADR TP and initiate H share at Buy Goldman Sachs does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. For Reg AC certificat ...