On July 20, analyst Li Xinmin from UOB Kay Hian pointed out in a report that global LiDAR technology shipments are expected to surge from 5 million units in 2025 to 40 million units by 2030. LiDAR is crucial for advanced driver-assistance systems, autonomous driving, and robotics. China dominates this field, holding a market share as high as 90%. Technological and manufacturing breakthroughs have enabled Chinese companies to successfully reduce LiDAR costs from over $9,000 to less than $300. Hesai Technologies (02525.HK) and RoboSense (02498.HK) account for 60% of the market share and are approaching a profitability turning point. RoboSense is expected to turn a profit this year, while Hesai Technologies' profitability is projected to grow by the end of 2028. UOB Kay Hian has initiated coverage on China's LiDAR sub-sector, giving a 'Buy' rating to both Hesai Technologies and RoboSense.