On September 4, HESAI-W rose 6.95% in regular trading, trading at HK$18.4/share, with turnover of HK$14.8866 million. Multiple positive catalysts converged to drive the stock higher.

On the news front, BlackRock, Inc. increased its holdings in HESAI-W by 6.2955 million shares on August 31 at an average price of HK$16.32 per share, totaling approximately HK$103 million. Following the purchase, BlackRock holds approximately 57.318 million shares, representing a 5.51% stake. Meanwhile, the broader Physical AI concept sector in Hong Kong strengthened, boosting HESAI-W as a leading LiDAR and embodied intelligence play. The stock also benefited from sentiment spillover after its U.S.-listed shares surged over 11% overnight.

Institutional coverage remains bullish, with a maintained Strong Buy rating and a target price of HK$26.93, implying approximately 52% upside from current levels. The valuation is based on a sum-of-parts model assigning 30x PE to core LiDAR operations and 6.7x PS to its strategic growth initiative business, yielding a combined target market cap of RMB 29.3 billion.

(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.)