HESAI-W (02525) Surges Over 5% Ahead of Q3 Results, LiDAR Adoption Accelerates

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HESAI-W (02525) rose more than 5%, reaching HK$185.8 by the time of writing, with a trading volume of HK$15.21 million. The company is set to hold a board meeting on November 11 to review and approve its unaudited quarterly results for the three and nine months ended September 30, 2025. Notably, Hesai Group maintained its position as the industry leader in automotive LiDAR installations for the eighth consecutive month in August, with its market share climbing to 46%. The company has supported the launch of several popular vehicle models this year, including the Li Auto i6, Xiaomi YU7, and Leapmotor B10. Hesai has secured mass production orders for over 120 vehicle models from 24 automakers, with deliveries scheduled between 2025 and 2027. Goldman Sachs research highlights that as LiDAR adoption accelerates in China and achieves large-scale global production by 2026-2027, overseas ADAS LiDAR shipments are projected to reach 3 million units by 2030, matching China's 2025 market scale.

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