On May 28, Hesai-W fell 5.28% in regular trading, trading at 156.0 HKD/share, with trading volume of approximately 91.12 million HKD.

The decline was driven by ongoing market concerns following the company's Q1 earnings report and broad weakness across the auto parts sector. Although Hesai reported non-GAAP net profit growth of 452.9% year-over-year, its gross margin declined from 41.7% to 39.1%. LiDAR shipments surged 140.9% YoY to 471,723 units, yet total revenue rose only 29.6% to RMB 681 million, reflecting a sharp drop in average selling price (ASP). Management attributed the ASP decline to product mix shifts, as lower-priced ADAS LiDAR increasingly dominates the revenue composition amid intensifying competition in China's automotive industry.

Sector-wide pressure further weighed on the stock, with peers Nexteer down 7.05%, Pateo down 6.69%, and Joyson Electronics down 5.36%, reflecting broad selling across auto parts and equipment names.

(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.)