Hesai (HSAI) Stock Surges Over 9% on Strong Q3 Revenue Growth

Dec 04, 2024

Hesai Technology (HSAI, Financial) saw its stock rise over 9% to $8.67, driven by impressive third-quarter results. The company reported a revenue of 540 million RMB, marking a 21.1% year-over-year increase. Laser radar deliveries reached 134,208 units, a significant 182.9% rise compared to the previous year. Deliveries of ADAS products alone were 129,913 units, up 220% year-over-year. The third quarter's comprehensive gross margin for ADAS and Robotaxi businesses was 47.7%, benefiting from cost efficiencies and increased development service income.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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