Research Report Highlights | CICC: Raises Hesai Technology's Hong Kong Stock Target Price to HKD 241.1, Maintains "Outperform Industry" Rating

As the U.S. midterm elections approach, Wall Street is generally betting on a "divided Congress" scenario, with the Democratic Party taking back the House of Representatives and the Republican Party retaining the Senate. This is expected to limit radical policies and reduce uncertainty. Historical data shows that since 1950, when a divided Congress occurred under a Republican president, the average annual gain of U.S. stocks was 13.7%, higher than the 8.3% and 4.9% gains when either the Republican or Democratic Party controlled Congress alone. If the election results deviate from expectations, the market may still experience significant volatility.

Eric Jackson, founder of EMJ Capital and renowned technology investor, has officially joined the company's advisory board.

From an underlying engineering perspective, the growing demand for optical interconnection arises from more frequent and stricter data exchanges between computing nodes: expert parallelism in Mixture of Experts (MoE) models requires distributing and aggregating data across GPUs; Prefill–Decode Disaggregation necessitates the transfer of KV Cache; complex agent workflows increase the concurrency of model invocation, tool execution, and data access.