Daiwa Anticipates Increased Demand for Auto LiDAR, Assigns Buy Rating to HESAI-W and ROBOSENSE
LiDAR Market Growth: Daiwa forecasts a 78% CAGR in LiDAR shipments for passenger vehicles in China from 2025 to 2027, driven by the introduction of L3 autonomous driving systems requiring multiple LiDAR units per vehicle.
Regulatory Impact: Stricter safety regulations for intelligent auto systems are making LiDAR a nearly mandatory feature, prompting increased demand from major car manufacturers in Europe and Japan for advanced driver-assistance systems (ADAS).
Investment Opportunities: Daiwa initiated coverage on Chinese LiDAR suppliers HESAI-W and ROBOSENSE, rating them as Buy with target prices of $264 and $56, respectively, citing cost advantages for these companies.
Market Sentiment: The report reflects optimism in the automotive sector, with M Stanley also raising its 2025 sales forecasts for Chinese auto manufacturers, indicating a positive outlook for companies involved in the development of autonomous driving technologies.
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HSI Rises Over 240 Points to Surpass 27,000 in Early Trading; Autonomous Driving Stocks Under Pressure; Hesai Plummets Nearly 10%
US Tech Stocks and Fed Decision: The market was focused on the earnings of US tech stocks and the Federal Reserve's interest rate decision, with the three major US stock indices performing well overnight.
Hong Kong Market Performance: The Hong Kong stock market opened higher on the 27th, with the HSI gaining 244 points to reach 27,010, supported by a turnover of HKD42.354 billion.
Automotive Tech Stocks Decline: Stocks related to automotive chips and autonomous driving technology faced significant declines, with Hesai's US shares dropping 10.1% and its Hong Kong shares opening 8.7% lower.
Short Selling Activity: Several stocks, including ROBOSENSE and HORIZONROBOT, experienced notable short selling, with ratios indicating increased bearish sentiment among investors.
HSI Rises Over 240 Points to Surpass 27,000 in Early Trading; Autonomous Driving Stocks Under Pressure; Hesai Drops Nearly 10%
US Tech Stocks and Fed Decision: The market was focused on the earnings of US tech stocks and the Federal Reserve's interest rate decision, with the three major US stock indices performing well overnight.
Hong Kong Market Performance: The Hong Kong stock market opened higher on the morning of the 27th, with the HSI gaining 244 points to reach 27,010, supported by a turnover of HKD42.354 billion.
Automotive Tech Stocks Decline: Stocks related to automotive chips and autonomous driving technology faced significant declines, with Hesai's US shares dropping 10.1% and its Hong Kong shares opening 8.7% lower.
Short Selling Activity: Several stocks, including ROBOSENSE and BIDU-SW, experienced notable short selling, with ratios indicating a high level of bearish sentiment among investors.
