禾赛(2525.HK):全球激光雷达龙头 赋能高阶智驾&机器人

西部证券
Jan 29

【核心结论】我们预计公司2025-2027 年的总收入为31 亿/48 亿/61 亿元,归母净利润为3.7 亿/6.9 亿/10.9 亿元。公司作为全球激光雷达龙头,有望在高阶智能驾驶&机器人等领域快速拓展。首次覆盖,给予“买入”评级。报告亮点:市场认为,激光雷达空间有限,我们认为:仅车端市场,我们预计10 万+价格带车型有望快速搭载激光雷达,在自动驾驶升级过程中,激光雷达单车搭载量(补盲)和...

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