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    Thierry Lou

    Research Analyst at JPMorgan Chase & Co.

    Thierry Lou is an Executive Director and Equity Research Analyst at JPMorgan Chase & Co., specializing in coverage of China’s industrial and infrastructure sectors, with a particular focus on companies such as China Communications Construction, China State Construction Engineering, China Railway Group, and CRRC Corporation. He has built a strong track record for delivering in-depth research and actionable investment insights, with client feedback highlighting his comprehensive sector understanding and contributions to portfolio performance. Thierry Lou began his career in equity research around 2012, previously holding analyst positions at UBS before joining JPMorgan in 2017. He is registered with relevant securities authorities and holds FINRA Series 7 and Series 63 licenses.

    Thierry Lou's questions to Hesai (HSAI) leadership

    Thierry Lou's questions to Hesai (HSAI) leadership • Q3 2024

    Question

    Thierry Lou from JPMorgan Chase & Co. asked how many of Hesai's design wins are for the new ATX product and whether the company is seeing a trend of clients switching from the AT128 to the more cost-effective ATX.

    Answer

    CEO David Li described switching from the AT128 to the smaller, more affordable ($200 range) ATX as a 'no brainer' for customers focused on L2+ performance. However, he highlighted a simultaneous trend where customers are also adopting a much more powerful and higher-priced L3 LiDAR (AT512 family) for premium models. This creates parallel demand for both cost-effective and ultra-high-performance solutions, rather than a simple replacement.

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