US Stock Market Move | Citigroup Inc. raised the estimated shipments of LiDAR sensors for 2025 to 1.51 million units. Heesung (HSAI.US) rose more than 5% in pre-market trading.

On Thursday, Hesai (HSAI.US) rose more than 5% in pre-market trading, reaching $13.598. Citigroup Inc. has raised its cumulative shipment estimate for Hesai in 2025 from 1.17 million units to 1.51 million units, based on the positive impact of BYD Company Limited, Xiaomi Automobile, Chongqing Changan Automobile, and LEAPMOTOR in driving sales growth of Hesai's LiDAR. In addition, the estimate for 2026 has been increased from 2.11 million units to 3.56 million units. It is particularly noteworthy that Hesai achieved a revenue of 540 million RMB in the third quarter of 2024, with a significant year-on-year growth. The delivery performance of the company's LiDAR products was strong, with a total of 134,208 units delivered, an increase of 182.9% year-on-year. Among them, the delivery of Advanced Driver Assistance Systems (ADAS) products was particularly impressive, reaching 129,913 units, a year-on-year increase of up to 220.0%.