China's Hesai jumps on launch of new LiDAR innovations
Hong Kong shares of three-dimensional light detection and ranging (LiDAR) solutions provider Hesai Technology 2525.HK jump 16.3% to HK$149.8, set for the biggest one-day pct gain since debut in the city on Sept. 16
Stock hits highest level since Nov. 17 on the second session of gain
U.S.-listed stock HSAI.O soared 18.1% to $18.22 on Monday, the biggest one-day pct gain since June 26
The China-based LiDAR manufacturer on Monday unveiled its Fermi C500 - a high-performance smart system-on-chip dedicated to LiDAR applications based on the RISC-V architecture
Hesai also unveils "photon isolation" safety technology to enhance point-cloud accuracy and launches a revamped 256-line SiPM-based ATX LiDAR, designed as a compact long-range sensor for L2 driving-assistance systems
Hong Kong stock, which started trading in the city on Sept. 16, is 31.4% below the offer price of HK$212.8 apiece so far
YTD, U.S.-listed shares up 31.8%, Hang Seng Tech Index .HSTECH up 24.7%
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