On June 2, Hesai-W rose 5.29% in regular trading, trading at 161.4 HKD/share, with trading volume of 66.17 million HKD. The stock rebounded after consecutive sessions of decline driven by Q1 earnings quality concerns.

On the news front, Hong Kong-listed smart driving concept stocks rallied broadly in early trading, with Seyond up nearly 10%, Inhon Technology up over 8%, and Pony AI up over 6%, creating sector-wide momentum that lifted Hesai-W. Additionally, multiple brokerages recently issued supportive research notes: Goldman Sachs maintained its target price of 273 HKD and reiterated a Buy rating, citing expectations of 50% revenue growth and EBIT margin improvement from 9% to 15% for the full year; Huachuang Securities assigned a target price of 249.39 HKD with a Strong Buy; and Western Securities also maintained its Buy rating, noting the company will benefit from rising per-vehicle LiDAR value as L3 penetration accelerates.

The stock had previously fallen for several sessions after its Q1 report showed gross margin declining from 41.7% to 39.1% year-over-year and adjusted net profit dropping over 88% quarter-over-quarter from Q4 highs, triggering concerns over earnings sustainability.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)