HESAI-W (02525) rose more than 3%. As of the time of writing, the stock was up 2.88%, trading at HK$214.6, with a turnover of HK$58.8381 million. A CICC research report noted that HESAI-W showcased its latest LiDAR technological achievements at CES 2026 this month and provided updates on operational aspects including delivery volumes, capacity plans, and strategic partnerships. The company leads the industry in mass production and delivery capabilities, with steady progress in advancing production capacity both domestically and internationally. The approval of L3 vehicle models by the Ministry of Industry and Information Technology (MIIT) is expected to increase the number of LiDAR units equipped per vehicle. The next wave of physical AI, including Robotaxis and robotics, is emerging, with LiDAR positioned as a key enabling technology. Notably, NVIDIA CEO Jensen Huang introduced the open-source VLA (Vision-Language-Action) large model platform, Alpamayo, for autonomous driving at CES 2026. Oriental Securities believes that as NVIDIA's autonomous driving ecosystem continues to expand and the penetration rates of high-level autonomous driving and Robotaxis gradually increase, demand for related high-level autonomous driving components—such as autonomous driving chips, LiDAR, domain controllers, and brake-by-wire/steer-by-wire systems—is expected to experience rapid growth, presenting ongoing development opportunities for suppliers of autonomous driving hardware and software.