Hesai Stock Jumps on 1 Million-Unit Lidar Deal, but There’s a Catch
Hesai’s U.S.-listed shares fell 2.6% in premarket trading Friday after the company announced an order exceeding 1 million lidar units from an unnamed top-tier European automaker. Hong Kong shares rose 4.8%. Daiwa raised its price target, but Bernstein, SocGen, and Citi cut theirs after earnings. First-quarter revenue rose 29.6% to $98.7 million, with net income of RMB18.3 million.