HK Stock Market Move | Hesai-W (02525) surged over 6% as Q2 net profit increased by 60% year-on-year, achieving early commercialization breakthroughs in its power module business.

Hesai-W (02525) rose over 6%, reaching a gain of 6.45% at HKD 18.31, with a trading volume of HKD 134 million as of the time of writing. In recent news, Hesai Technology announced its unaudited financial data for the second quarter of 2026. In the second quarter, Hesai generated revenue of 860 million yuan and achieved a GAAP net profit of 70.55 million yuan, a year-on-year increase of 60.0%; thus, Hesai has achieved GAAP profitability for five consecutive quarters. For the first time, the Strategic Growth Initiatives (SGI) segment contributed to revenue this quarter, primarily due to the early commercialization breakthroughs in the power module business. The Hesai power modules began contributing revenue this quarter, with over 10,000 units delivered by the end of the second quarter, expanding from dexterous robotic hand modules to full-body joint modules. The spatial intelligence platform Kosmo has completed the delivery of its first batch of prototypes and received orders from several leading humanoid robot companies, including Galaxy Universal, which is expected to start contributing revenue in the third quarter. Based on the exceeding expectations of the SGI business's commercialization progress and market demand, Hesai has raised its full-year revenue guidance for SGI to 200-300 million yuan for 2026; it is expected that SGI revenue will reach approximately 700 million yuan in 2027 and achieve breakeven.