禾赛科技:智驾平权驱动出货量高增 机器人感知需求爆发开辟第二增长曲线

中信建投证券
21 Apr

核心观点禾赛作为全球激光雷达产业领导者,营收稳居行业榜首,出货量实现爆发式增长,连续4 年交付量翻倍。公司毛利率显著高于行业平均水平,亏损率逐年收窄,并在2024 年第四季度率先实现盈利。智驾平权驱动车载激光雷达需求放量,禾赛通过全栈布局与平台化迭代实现降本增效,以技术自研与规模量产构建起坚固的生态壁垒。禾赛推出革新性产品ATX 助力智驾普及,未来市场占有率有望再次提升。禾赛与海内外头部车企达成...

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