Daily BriefsTMT/Internet

Daily Brief TMT/Internet: Hesai Group and more

In today’s briefing:

  • HESAI Group IPO Valuation Analysis

HESAI Group IPO Valuation Analysis

By Douglas Kim

  • Our base case valuation of Hesai Group is implied market cap of US$3.4 billion or target price of US$27.1 per share.
  • Our target price is 43% higher than the high end of the IPO price of US$19 per share. Given the solid upside, we have a positive view of this IPO. 
  • The company’s superior technology in the LiDAR product segment along with its global market leadership should help Hesai Group to successfully complete this IPO despite political risks related to China. 

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