HESAI-W (02525) surged nearly 4% during the trading session, reaching HK$188.4 by the time of writing, with a trading volume of HK$38.66 million. The company's main LiDAR installations have demonstrated steady growth, maintaining the top position in the industry for seven consecutive months.

According to data from Gasgoo Research Institute, Hesai Group's LiDAR installations in China's front-loading mass production sector totaled 510,000 units from January to August 2025, out of the industry's total of 1.31 million units. Monthly installations have nearly tripled, rising from 33,485 units to 97,583 units.

Hesai has planned an annual production capacity exceeding 2 million units for 2025, with expected annual deliveries ranging between 1.2 million and 1.5 million units. This year, Hesai's LiDAR technology has supported the launch of several popular vehicle models, including the Li Auto i6, Xiaomi YU7, and Leapmotor B10.

The company has secured mass production contracts for over 120 vehicle models from 24 automakers, scheduled for delivery between 2025 and 2027. Key clients include a top European automaker, a global leader in new energy vehicle sales, as well as major brands such as Li Auto, Xiaomi, Changan, Geely, Great Wall, Chery, Zeekr, Leapmotor, SAIC Audi, SAIC-GM, and Toyota's joint ventures.