HK Stock Market Move | HESAI-W(02525) rose more than 5% in the morning session. Announced two top European car manufacturers to cooperate within a week. The company's globalization strategy has achieved a major breakthrough.

HESAI-W(02525) soared more than 5% in early trading, rising 4.71% to 166.7 Hong Kong dollars as of the time of publication, with a trading volume of 28.8524 million Hong Kong dollars. On the news front, according to HESAI-W official WeChat account, on May 20th, the company announced that after recently reaching a cooperation agreement with Mercedes-Benz on L3 technology, it has secured a new partnership with a top European automaker, with an order size exceeding 1 million units, covering more than ten models of its Chinese joint-venture brands. This collaboration represents international recognition of Hesai's full-stack self-developed chip technology, high-reliability product performance, and large-scale production capacity by leading global automotive groups, and signifies a key position for Chinese smart components in the supply chain of top international automotive groups. BOCOM INTL pointed out that HESAI-W has become a strategic L3 autonomous driving vehicle LiDAR partner and confirmed supplier for Mercedes-Benz, with the new supply agreement comprehensively supporting Mercedes-Benz's related vehicle projects in Europe and China, with the LiDAR capacity needed provided by a manufacturing center newly built in Thailand. Meanwhile, HESAI-W is expanding its global footprint through partnerships with Chinese joint-venture enterprises and rapidly growing OEM manufacturers in China, breaking through the dominance of Japanese brands with the successful acquisition of the design award for GAC Toyota's 2026 BZ3X model, and securing overseas design cooperation with Xiaomi (Xiaomi's car project is scheduled to start overseas deliveries in 2027).