Hesai Technology's stock price fell

Hesai Technology's stock price plummeted from $30.85 to $19.78 within two months, a drop of over 30%. Consequently, China Merchants Securities International lowered its target price for the Hong Kong-listed shares to HK$218.1 and its target price for the US-listed shares to $28. Despite this, the company returned to profitability in the third quarter, with net profit attributable to shareholders reaching RMB 256 million.