Hesai's Q1 Revenue Growth Slows, Shares Plunge 8%

Hesai shares fell sharply in Hong Kong after the car-sensor maker guided for slowing revenue growth in its first-quarter results. The company's shares slid as much as 10% before ending down 8.0% at HK$163.90. The benchmark Hang Seng Index rose 0.9%. Hesai's revenue growth is expected to slow down due to various factors, including competition and the ongoing COVID-19 pandemic.