US Stock Market Move | HSAI (HSAI.US) closed up more than 19%, Xiaomi YU7 orders far exceeded market expectations, with the company being its main supplier of LiDAR.

Encouraged by the hot sales of Xiaomi YU7, Hesai (HSAI.US) continued to rise on Thursday. By the close, it was up 19.26% at $23.1 per share, with a trading volume of $173 million. On the news front, Xiaomi officially launched its first SUV, the Xiaomi YU7, on the evening of the 26th, with over 200,000 units sold within three minutes. Citigroup pointed out that the orders for YU7 are favorable for Xiaomi to achieve its goal of delivering 400,000 electric vehicles this year, and the listing of YU7 is beneficial for Xiaomi as well as Hesai Group Sponsored ADR. It is reported that Xiaomi's car is an important customer for Hesai Group Sponsored ADR. In March 2024, Xiaomi's first mass-produced model SU7 was officially released, featuring AT128 LiDAR in the Pro and Max versions. In May 2025, Xiaomi released YU7, also announcing the standard inclusion of Hesai LiDAR. It is worth noting that on May 27th, Hesai Group Sponsored ADR released unaudited financial data for the first quarter of 2025, with a revenue of 530 million yuan, a year-on-year increase of 46.3%. The company expects full-year revenue to increase by 44% to 69% year-on-year, and anticipates a profit for the full year. In addition, the total delivery volume of Hesai LiDAR reached 195,800 units, a year-on-year increase of 231.3%; looking ahead to 2025, Hesai expects the delivery volume of LiDAR to reach 1.2 to 1.5 million units.