周三盘中，激光雷达龙头企业禾赛科技（HSAI）股价大跌5.17%，引发市场关注。这一跌幅可能与公司近期公布的2025年第一季度财报有关，尽管业绩超出预期，但投资者似乎对公司的盈利能力仍持谨慎态度。
根据禾赛科技公布的财报数据，2025年第一季度公司实现营收5.3亿元人民币，同比增长46.3%。激光雷达总交付量达195,818台，同比大幅增长231.3%。其中，ADAS产品交付量同比增长178.5%，机器人领域产品交付量同比激增649.1%。然而，公司仍未能实现盈利，净亏损为1750万元人民币。尽管相比去年同期亏损有所收窄，但持续亏损引发了投资者对公司盈利能力的担忧。
值得注意的是，多家大型投资银行对禾赛科技的前景持积极态度。德银、美银、高盛和中银国际均上调了禾赛的目标价，并维持"买入"评级。分析师们认为，禾赛的规模效应正在显现，盈利能力有望持续改善。然而，市场似乎需要更多时间来消化这些信息，并等待禾赛科技在保持高增长的同时实现盈利转正。
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