August 18, 2026 11:44 AM GMT Hesai Group | Asia Pacific 2Q26 mixed; SGI the bright spot AlphaSignals Earnings Reaction Unchanged In-line Largely unchanged Impact to our thesis Financial results versus consensus Direction of next 12-month consensus EPS Source: Company data, Morgan Stanley Research Key Takeaways Non-op gains saved 2Q26: Hesai reported 2Q26 GAAP net profit of Rmb71mn, up 60% YoY, largely in line with reduced market expectations. GpM of 40.1% (+1.0ppt QoQ) met guidance while higher R&D expense ...