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HESAI-W Opens 8.2% Lower; 1Q Swings to Profit of RMB18.315M; Citi Cuts TP
Recommend 4 Positive 8 Negative 8 |
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HESAI-W (02525.HK) opened sharply lower by 8.15% this morning (20th) at HKD160, with 72,600 shares traded pre-market, involving HKD11.6201 million. Hesai Group (HSAI.US) tumbled 9% overnight in the US, closing at USD20.03. After market close yesterday (19th), the company announced its results for 1Q26 ended March. Revenue grew 29.6% YoY to RMB681 million. Gross margin narrowed 2.6 ppts YoY to 39.1%. The company swung to a profit of RMB18.315 million, with EPS of RMB0.12. Under non-GAAP measures, quarterly net profit spiked 4.53x YoY to RMB47.748 million, with non-GAAP EPS of RMB0.31. Citi said in a report that Hesai's core operating profit for 1Q was well above forecast. Revenue for 1Q lifted 30% YoY to RMB681 million, 3% above consensus. Core net profit for 1Q also beat significantly. However, blended ASP faded 9% QoQ in 1Q, below expectations. As EV industry shipments in 2Q may be weaker than expected, the broker revised its revenue and net profit forecasts to more conservative levels and cut its TP from HKD257.5 to HKD223.3, while maintaining a Buy rating. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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