{"id":89062,"date":"2026-05-20T08:08:53","date_gmt":"2026-05-20T00:08:53","guid":{"rendered":"https:\/\/www.kgieworld.sg\/research\/?p=89062"},"modified":"2026-05-20T08:08:53","modified_gmt":"2026-05-20T00:08:53","slug":"technical-analysis-20-may-2026","status":"publish","type":"post","link":"https:\/\/www.kgieworld.sg\/researchstg\/technical-analysis-20-may-2026\/","title":{"rendered":"Technical Analysis &#8211; 20 May 2026"},"content":{"rendered":"\n<p class=\"has-cyan-bluish-gray-background-color has-background wp-block-paragraph\" id=\"top\"><strong><a href=\"\/researchstg\/#us\">United States<\/a> | <a href=\"\/researchstg\/#sg\">Singapore<\/a> | <a href=\"\/researchstg\/#hk\">Hong Kong<\/a> | <a href=\"\/researchstg\/#ea\" title=\"\">Earnings<\/a><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"us\"><a id=\"post-76998-_5ifytjpamge8\"><\/a><figure><img fetchpriority=\"high\" decoding=\"async\" width=\"637\" height=\"135\" class=\"wp-image-77026\" src=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2025\/09\/word-image-76998-1.png\" srcset=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2025\/09\/word-image-76998-1.png 637w, https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2025\/09\/word-image-76998-1-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\">LightPath\u00a0Technologies, Inc.\u00a0(LPTH\u00a0US)<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/05\/image-274.png\" alt=\"\" class=\"wp-image-89107\"\/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Shares closed\u00a0above\u00a0the 5dEMA\u00a0with elevated volume.\u00a0\u00a0<\/li>\n\n\n\n<li>RSI\u00a0is\u00a0constructive and\u00a0MACD\u00a0is\u00a0about to turn positive.\u00a0<\/li>\n\n\n\n<li><strong>Long \u2013 Entry\u00a013,\u00a0Target\u00a015,\u00a0Stop\u00a012<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/03\/a-line-in-a-white-background-description-automati-9.png\" alt=\"A line in a white background\n\nDescription automatically generated\" class=\"wp-image-87138\" srcset=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/03\/a-line-in-a-white-background-description-automati-9.png 637w, https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/03\/a-line-in-a-white-background-description-automati-9-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Tower Semiconductor,\u00a0Ltd\u00a0(TSEM\u00a0US)\u00a0<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/05\/image-275.png\" alt=\"\" class=\"wp-image-89108\"\/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Shares\u00a0closed above the 5dEMA.\u00a0\u00a0<\/li>\n\n\n\n<li>Both\u00a0RSI\u00a0and MACD are constructive.\u00a0<\/li>\n\n\n\n<li><strong>Long \u2013 Entry\u00a0240,\u00a0Target\u00a0280,\u00a0Stop\u00a0220<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"has-text-align-right wp-block-paragraph\"><a href=\"\/researchstg\/#top\" title=\"\">^ Back To Top<\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/03\/word-image-87084-4-1.png\" alt=\"\" class=\"wp-image-87140\" srcset=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/03\/word-image-87084-4-1.png 637w, https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/03\/word-image-87084-4-1-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"sg\"><a id=\"post-86958-_q3z2pzaup3mw\"><\/a><figure><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/03\/word-image-86958-5.png\" class=\"wp-image-87044\" srcset=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/03\/word-image-86958-5.png 637w, https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/03\/word-image-86958-5-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\">Thai Beverage Public Co., Ltd\u00a0(THBEV\u00a0SP)\u00a0<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/05\/image-261.png\" alt=\"\" class=\"wp-image-89071\"\/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Shares closed above the 5dEMA\u00a0and\u00a0200dEMA\u00a0with\u00a0elevated\u00a0volume.\u00a0<\/li>\n\n\n\n<li>RSI\u00a0is at overbought\u00a0levels\u00a0but\u00a0MACD\u00a0is still\u00a0constructive.\u00a0<\/li>\n\n\n\n<li><strong>Buy\u00a0\u2013 Entry\u00a00.46,\u00a0Target\u00a00.50,\u00a0Stop\u00a00.44<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/03\/a-line-in-a-white-background-description-automati-10.png\" alt=\"A line in a white background\n\nDescription automatically generated\" class=\"wp-image-87159\" srcset=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/03\/a-line-in-a-white-background-description-automati-10.png 637w, https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/03\/a-line-in-a-white-background-description-automati-10-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Riverstone Holdings\u00a0Limited.\u00a0(RSTON\u00a0SP)\u00a0<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/05\/image-262.png\" alt=\"\" class=\"wp-image-89072\"\/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Shares closed\u00a0right\u00a0on\u00a0the 5dEMA\u00a0with\u00a0elevated\u00a0volume\u00a0for the week.\u00a0<\/li>\n\n\n\n<li>RSI is at overbought\u00a0levels\u00a0but MACD is still constructive.\u00a0<\/li>\n\n\n\n<li><strong>Buy\u00a0\u2013 Entry\u00a00.90,\u00a0Target\u00a01.02,\u00a0Stop\u00a00.84<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"has-text-align-right wp-block-paragraph\"><a href=\"\/researchstg\/#top\" title=\"\">^ Back To Top<\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/03\/word-image-87147-4.png\" alt=\"\" class=\"wp-image-87161\" srcset=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/03\/word-image-87147-4.png 637w, https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/03\/word-image-87147-4-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"hk\"><a id=\"post-87147-_ox2yqx6nkukc\"><\/a><figure><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" class=\"wp-image-87162\" src=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/03\/word-image-87147-5.png\" srcset=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/03\/word-image-87147-5.png 637w, https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/03\/word-image-87147-5-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"hk\">CNOOC Ltd (883\u00a0HK)<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/05\/image-263.png\" alt=\"\" class=\"wp-image-89073\"\/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Shares closed above the\u00a020dEMA with rising volume.\u00a0<\/li>\n\n\n\n<li>RSI is constructive, while MACD is about to turn positive.\u00a0<\/li>\n\n\n\n<li><strong>Long\u00a0<\/strong>\u2013\u00a0<strong>Entry\u00a027,\u00a0Target\u00a029,\u00a0Stop\u00a026<\/strong><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/03\/a-line-in-a-white-background-description-automati-10.png\" alt=\"A line in a white background\n\nDescription automatically generated\" class=\"wp-image-87159\" srcset=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/03\/a-line-in-a-white-background-description-automati-10.png 637w, https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/03\/a-line-in-a-white-background-description-automati-10-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">PetroChina Co.,\u00a0Ltd.\u00a0(857\u00a0HK)\u00a0<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/05\/image-264.png\" alt=\"\" class=\"wp-image-89074\"\/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Shares closed above the 20dEMA with rising volume.\u00a0<\/li>\n\n\n\n<li>RSI is constructive, while MACD is\u00a0negative.\u00a0<\/li>\n\n\n\n<li><strong>Long \u2013 Entry\u00a011.0,\u00a0Target\u00a012.0, Stop\u00a010.5<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"has-text-align-right wp-block-paragraph\"><a href=\"\/researchstg\/#top\" title=\"\">^ Back To Top<\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/03\/word-image-86958-14.png\" alt=\"\" class=\"wp-image-87053\" srcset=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/03\/word-image-86958-14.png 637w, https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/03\/word-image-86958-14-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image\" id=\"er\"><img loading=\"lazy\" decoding=\"async\" width=\"601\" height=\"108\" src=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/03\/word-image-86958-15.png\" alt=\"\" class=\"wp-image-87054\" srcset=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/03\/word-image-86958-15.png 601w, https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2026\/03\/word-image-86958-15-300x54.png 300w\" sizes=\"(max-width: 601px) 100vw, 601px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>The Home Depot, Inc. (HD)<\/strong>\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>1Q26\u00a0Revenue:\u00a0<\/strong>$41.8B,\u00a0+4.9% YoY,\u00a0beat\u00a0estimates\u00a0by $290M\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>1Q26\u00a0Non-GAAP\u00a0EPS<\/strong>:\u00a0$3.43,\u00a0beat\u00a0estimates by $0.02\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>FY<\/strong><strong>26 Guidance:<\/strong>\u00a0Reaffirmed FY26 guidance for total sales growth of 2.8% and comparable sales growth of about 1.0%. Adjusted diluted EPS is still expected to decline about 2% for FY26.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Comment:\u00a0<\/strong>This was a better-than-feared quarter, but not a decisive inflection. Sales and adjusted EPS both beat, and comparable sales turned modestly positive at 0.6%, with U.S. comps up 0.4%. Pro demand remained stronger than DIY demand, and online sales increased 10%, which suggests the business is stabilizing even though the big-ticket home improvement backdrop\u00a0remains\u00a0soft. The main issue is that the macro backdrop still looks sluggish. Large\u00a0remodeling\u00a0projects\u00a0remain\u00a0under pressure, while categories tied to smaller projects and seasonal demand are holding up better. Management kept full-year guidance unchanged, which\u00a0indicates\u00a0the company is seeing conditions broadly\u00a0similar to\u00a0fiscal 2025 rather than a sharper recovery. The stock reaction was modestly positive, with shares up around 1% after the release, but the market\u00a0appears to want\u00a0clearer evidence of housing-linked demand improvement before rerating the name. The principal variables to monitor are Pro sales durability, comp momentum in the U.S., recovery in larger discretionary projects, and whether margins can hold if the company leans further into promotions or cost absorption.\u00a0<strong>2Q26 recommended trading range: $280\u00a0to $340. Neutral Outlook.<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u5bb6\u5f97\u5b9d\u516c\u53f8\uff08HD<\/strong><strong>)<\/strong>\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26<\/strong><strong>\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u8425\u6536\uff1a<\/strong>418\u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f4.9%\uff0c\u8d85\u51fa\u9884\u671f2.9\u4ebf\u7f8e\u5143\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26<\/strong><strong>\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u975e\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/strong>3.43\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f0.02\u7f8e\u5143\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26<\/strong><strong>\u8d22\u5e74\u5168\u5e74\u6307\u5f15\uff1a<\/strong>\u91cd\u7533\u5168\u5e74\u603b\u9500\u552e\u989d\u589e\u957f2.8%\u3001\u540c\u5e97\u9500\u552e\u589e\u957f\u7ea61.0%\uff1b\u8c03\u6574\u540e\u7a00\u91ca\u6bcf\u80a1\u6536\u76ca\u9884\u8ba1\u540c\u6bd4\u4e0b\u964d\u7ea62%\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u77ed\u8bc4\uff1a<\/strong>\u672c\u5b63\u5ea6\u8868\u73b0\u597d\u4e8e\u5e02\u573a\u62c5\u5fe7\uff0c\u4f46\u5c1a\u672a\u51fa\u73b0\u660e\u786e\u62d0\u70b9\u3002\u8425\u6536\u4e0e\u76c8\u5229\u53cc\u53cc\u8d85\u9884\u671f\uff0c\u540c\u5e97\u9500\u552e\u989d\u5c0f\u5e45\u8f6c\u6b63\uff08+0.6%\uff09\uff0c\u7f8e\u56fd\u672c\u571f\u540c\u5e97\u589e\u957f0.4%\uff1b\u4e13\u4e1a\u5ba2\u6237\uff08Pro\uff09\u9700\u6c42\u6301\u7eed\u5f3a\u4e8eDIY\u6d88\u8d39\u8005\uff0c\u7ebf\u4e0a\u9500\u552e\u589e\u957f10%\uff0c\u663e\u793a\u4e1a\u52a1\u6b63\u5728\u6e29\u548c\u4f01\u7a33\uff0c\u5c3d\u7ba1\u5927\u989d\u5bb6\u5c45\u6539\u9020\u73af\u5883\u4f9d\u7136\u75b2\u8f6f\u3002\u6838\u5fc3\u6311\u6218\u5728\u4e8e\u5b8f\u89c2\u6d88\u8d39\u80cc\u666f\u4ecd\u663e\u4f4e\u8ff7\uff1a\u5927\u578b\u7ffb\u65b0\u9879\u76ee\u6301\u7eed\u627f\u538b\uff0c\u800c\u5c0f\u989d\u3001\u5b63\u8282\u6027\u54c1\u7c7b\u8868\u73b0\u76f8\u5bf9\u7a33\u5065\u3002\u7ba1\u7406\u5c42\u7ef4\u6301\u5168\u5e74\u6307\u5f15\u4e0d\u53d8\uff0c\u6697\u793a2026\u5e74\u7ecf\u8425\u73af\u5883\u4e0e2025\u5e74\u76f8\u4f3c\uff0c\u672a\u89c1\u663e\u8457\u590d\u82cf\u52a0\u901f\u3002\u8d22\u62a5\u53d1\u5e03\u540e\u80a1\u4ef7\u5fae\u6da8\u7ea61%\uff0c\u53cd\u5e94\u514b\u5236\u2014\u2014\u5e02\u573a\u4ecd\u5728\u7b49\u5f85\u4f4f\u623f\u76f8\u5173\u9700\u6c42\u66f4\u6e05\u6670\u7684\u6539\u5584\u4fe1\u53f7\uff0c\u624d\u613f\u7ed9\u4e88\u4f30\u503c\u91cd\u4f30\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff09Pro\u5ba2\u6237\u9500\u552e\u7684\u6301\u7eed\u6027\uff1b\uff082\uff09\u7f8e\u56fd\u540c\u5e97\u589e\u957f\u52a8\u80fd\u662f\u5426\u589e\u5f3a\uff1b\uff083\uff09\u5927\u989d\u53ef\u9009\u6d88\u8d39\u9879\u76ee\u80fd\u5426\u56de\u6696\uff1b\uff084\uff09\u82e5\u516c\u53f8\u8fdb\u4e00\u6b65\u52a0\u5927\u4fc3\u9500\u6216\u627f\u62c5\u6210\u672c\uff0c\u5229\u6da6\u7387\u80fd\u5426\u4fdd\u6301\u7a33\u5b9a\u3002<strong>26<\/strong><strong>\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a<\/strong><strong>280<\/strong><strong>\u7f8e\u5143\u81f3<\/strong><strong>340<\/strong><strong>\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f<\/strong><strong>\u3002<\/strong>\u00a0<br>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Hesai\u00a0Group (HSAI)<\/strong>\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>1Q26\u00a0Revenue:\u00a0<\/strong>$98.7M,\u00a0+29.6% YoY, beat estimates by $0.53M\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>1Q26\u00a0GAAP\u00a0EPS<\/strong>:\u00a0$0.04, beat estimates by $0.04\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>FY<\/strong><strong>26 Guidance:<\/strong>\u00a0Management highlighted continued shipment growth, expanding ADAS lidar adoption, and capacity plans to support up to 4M lidar units in 2026.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Comment:\u00a0<\/strong>This was a solid quarter. Revenue rose\u00a0nearly 30%\u00a0YoY, gross margin remained healthy at 39.1%, and the company turned profitable on both a GAAP and\u00a0non GAAP\u00a0basis. Lidar shipments more than doubled YoY, which\u00a0indicates\u00a0that adoption\u00a0remains\u00a0strong and that\u00a0Hesai\u00a0is converting industry momentum into real volume growth. The key positive is operating leverage. Research and development expense grew much more slowly than revenue, loss from operations narrowed materially, and\u00a0non-GAAP\u00a0operating income turned positive. That suggests the business is scaling more efficiently even as it continues to invest in new products and strategic growth initiatives. The principal variables to monitor are shipment growth into 2H26, mix and gross-margin sustainability as lower-margin products scale, customer concentration in ADAS programs, and whether new product launches for higher-level autonomy meaningfully expand content per vehicle.\u00a0<strong>2Q26 recommended trading range: $18\u00a0to $25. Neutral Outlook.<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u79be\u8d5b\u79d1\u6280\uff08HSAI<\/strong><strong>)<\/strong>\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26<\/strong><strong>\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u8425\u6536\uff1a<\/strong>9870\u4e07\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f29.6%\uff0c\u8d85\u51fa\u9884\u671f53\u4e07\u7f8e\u5143\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26<\/strong><strong>\u8d22\u5e74\u7b2c\u4e00\u5b63\u5ea6\u516c\u8ba4\u4f1a\u8ba1\u51c6\u5219\u6bcf\u80a1\u6536\u76ca\uff1a<\/strong>0.04\u7f8e\u5143\uff0c\u8d85\u51fa\u9884\u671f0.04\u7f8e\u5143\uff08\u5b9e\u73b0\u626d\u4e8f\u4e3a\u76c8\uff09\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>26<\/strong><strong>\u8d22\u5e74\u5168\u5e74\u6307\u5f15\uff1a<\/strong>\u7ba1\u7406\u5c42\u5f3a\u8c03\u6fc0\u5149\u96f7\u8fbe\u51fa\u8d27\u91cf\u6301\u7eed\u589e\u957f\u3001ADAS\u9886\u57df\u6e17\u900f\u52a0\u901f\uff0c\u5e76\u8ba1\u5212\u5c062026\u5e74\u4ea7\u80fd\u63d0\u5347\u81f3\u652f\u6301400\u4e07\u9897\u6fc0\u5149\u96f7\u8fbe\u7684\u4ea4\u4ed8\u80fd\u529b\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u77ed\u8bc4\uff1a<\/strong>\u672c\u5b63\u5ea6\u8868\u73b0\u7a33\u5065\u3002\u8425\u6536\u540c\u6bd4\u589e\u957f\u8fd130%\uff0c\u6bdb\u5229\u7387\u7ef4\u6301\u5728\u5065\u5eb7\u6c34\u5e73\uff0839.1%\uff09\uff0c\u516c\u53f8\u9996\u6b21\u5728GAAP\u4e0e\u975eGAAP\u53e3\u5f84\u4e0b\u540c\u65f6\u5b9e\u73b0\u76c8\u5229\u3002\u6fc0\u5149\u96f7\u8fbe\u51fa\u8d27\u91cf\u540c\u6bd4\u7ffb\u500d\u4ee5\u4e0a\uff0c\u5370\u8bc1\u884c\u4e1a\u9ad8\u666f\u6c14\u6b63\u6709\u6548\u8f6c\u5316\u4e3a\u5b9e\u9645\u9500\u91cf\u589e\u957f\u3002\u6838\u5fc3\u4eae\u70b9\u5728\u4e8e\u8fd0\u8425\u6760\u6746\u663e\u73b0\uff1a\u7814\u53d1\u652f\u51fa\u589e\u901f\u8fdc\u4f4e\u4e8e\u8425\u6536\u589e\u901f\uff0c\u8425\u4e1a\u4e8f\u635f\u5927\u5e45\u6536\u7a84\uff0c\u975eGAAP\u8425\u4e1a\u5229\u6da6\u8f6c\u6b63\uff0c\u663e\u793a\u516c\u53f8\u5728\u6301\u7eed\u6295\u5165\u65b0\u4ea7\u54c1\u4e0e\u6218\u7565\u9879\u76ee\u7684\u540c\u65f6\uff0c\u89c4\u6a21\u5316\u6548\u7387\u663e\u8457\u63d0\u5347\u3002\u540e\u7eed\u5173\u952e\u53d8\u91cf\u5305\u62ec\uff1a\uff081\uff092026\u5e74\u4e0b\u534a\u5e74\u51fa\u8d27\u91cf\u80fd\u5426\u5ef6\u7eed\u9ad8\u589e\u957f\uff1b\uff082\uff09\u968f\u7740\u4f4e\u6bdb\u5229\u4ea7\u54c1\u5360\u6bd4\u53ef\u80fd\u4e0a\u5347\uff0c\u6574\u4f53\u6bdb\u5229\u7387\u662f\u5426\u53ef\u6301\u7eed\uff1b\uff083\uff09ADAS\u5ba2\u6237\u96c6\u4e2d\u5ea6\u98ce\u9669\uff1b\uff084\uff09\u9762\u5411\u9ad8\u9636\u81ea\u52a8\u9a7e\u9a76\u7684\u65b0\u4ea7\u54c1\u80fd\u5426\u663e\u8457\u63d0\u5347\u5355\u8f66\u4ef7\u503c\u91cf\uff08content per vehicle\uff09\u3002<strong>26<\/strong><strong>\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a<\/strong><strong>18<\/strong><strong>\u7f8e\u5143\u81f3<\/strong><strong>25<\/strong><strong>\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f<\/strong><strong>\u3002<\/strong>\u00a0<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-uagb-separator uagb-block-ed4e1152\"><div class=\"wp-block-uagb-separator__inner\" style=\"--my-background-image:\"><\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-separator uagb-block-075e5b76\"><div class=\"wp-block-uagb-separator__inner\" style=\"--my-background-image:\"><\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-separator uagb-block-0ad8dd24\"><div class=\"wp-block-uagb-separator__inner\" style=\"--my-background-image:\"><\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-buttons uagb-buttons__outer-wrap uagb-btn__default-btn uagb-btn-tablet__default-btn uagb-btn-mobile__default-btn uagb-block-dc1bd65c\"><div class=\"uagb-buttons__wrap 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style=\"--my-background-image:\"><\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-image uagb-block-62b24b08 wp-block-uagb-image--layout-default wp-block-uagb-image--effect-static wp-block-uagb-image--align-none\"><figure class=\"wp-block-uagb-image__figure\"><a class=\"\" href=\"https:\/\/www.whatsapp.com\/channel\/0029VayhkxMChq6JN6qO8x0B\" target=\"\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/1-1.png ,https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/1-1.png 780w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/1-1.png 360w\" sizes=\"auto, (max-width: 480px) 150px\" src=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2025\/06\/1-1.png\" alt=\"\" class=\"uag-image-69995\" width=\"760\" height=\"208\" title=\"1\" loading=\"lazy\" role=\"img\"\/><\/a><\/figure><\/div>\n\n\n\n<div class=\"wp-block-uagb-image uagb-block-82e9f322 wp-block-uagb-image--layout-default wp-block-uagb-image--effect-static wp-block-uagb-image--align-none\"><figure class=\"wp-block-uagb-image__figure\"><a class=\"\" href=\"https:\/\/t.me\/kgisg\" target=\"\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/2.png ,https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/2.png 780w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2025\/06\/2.png 360w\" sizes=\"auto, (max-width: 480px) 150px\" src=\"https:\/\/www.kgieworld.sg\/researchstg\/wp-content\/uploads\/2025\/06\/2.png\" alt=\"\" class=\"uag-image-69996\" width=\"760\" height=\"208\" title=\"2\" loading=\"lazy\" role=\"img\"\/><\/a><\/figure><\/div>\n","protected":false},"excerpt":{"rendered":"<p>United States | Singapore | Hong Kong | Earnings LightPath\u00a0Technologies, Inc.\u00a0(LPTH\u00a0US) Tower Semiconductor,\u00a0Ltd\u00a0(TSEM\u00a0US)\u00a0 ^ Back To Top Thai Beverage Public Co., Ltd\u00a0(THBEV\u00a0SP)\u00a0 Riverstone Holdings\u00a0Limited.\u00a0(RSTON\u00a0SP)\u00a0 ^ Back To Top CNOOC Ltd (883\u00a0HK) PetroChina Co.,\u00a0Ltd.\u00a0(857\u00a0HK)\u00a0 ^ Back To Top The Home Depot, Inc. (HD)\u00a0 \u5bb6\u5f97\u5b9d\u516c\u53f8\uff08HD)\u00a0 Hesai\u00a0Group (HSAI)\u00a0 \u79be\u8d5b\u79d1\u6280\uff08HSAI)\u00a0<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","_uag_custom_page_level_css":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[30],"tags":[],"class_list":["post-89062","post","type-post","status-publish","format-standard","hentry","category-technical-analysis"],"aioseo_notices":[],"uagb_featured_image_src":{"full":false,"thumbnail":false,"medium":false,"medium_large":false,"large":false,"1536x1536":false,"2048x2048":false},"uagb_author_info":{"display_name":"admin","author_link":"https:\/\/www.kgieworld.sg\/researchstg\/author\/admin\/"},"uagb_comment_info":0,"uagb_excerpt":"United States | Singapore | Hong Kong | Earnings LightPath\u00a0Technologies, Inc.\u00a0(LPTH\u00a0US) Tower Semiconductor,\u00a0Ltd\u00a0(TSEM\u00a0US)\u00a0 ^ Back To Top Thai Beverage Public Co., Ltd\u00a0(THBEV\u00a0SP)\u00a0 Riverstone Holdings\u00a0Limited.\u00a0(RSTON\u00a0SP)\u00a0 ^ Back To Top CNOOC Ltd (883\u00a0HK) PetroChina Co.,\u00a0Ltd.\u00a0(857\u00a0HK)\u00a0 ^ Back To Top The Home Depot, Inc. (HD)\u00a0 \u5bb6\u5f97\u5b9d\u516c\u53f8\uff08HD)\u00a0 Hesai\u00a0Group (HSAI)\u00a0 \u79be\u8d5b\u79d1\u6280\uff08HSAI)\u00a0","_links":{"self":[{"href":"https:\/\/www.kgieworld.sg\/researchstg\/wp-json\/wp\/v2\/posts\/89062","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.kgieworld.sg\/researchstg\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kgieworld.sg\/researchstg\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kgieworld.sg\/researchstg\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kgieworld.sg\/researchstg\/wp-json\/wp\/v2\/comments?post=89062"}],"version-history":[{"count":0,"href":"https:\/\/www.kgieworld.sg\/researchstg\/wp-json\/wp\/v2\/posts\/89062\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.kgieworld.sg\/researchstg\/wp-json\/wp\/v2\/media?parent=89062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kgieworld.sg\/researchstg\/wp-json\/wp\/v2\/categories?post=89062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kgieworld.sg\/researchstg\/wp-json\/wp\/v2\/tags?post=89062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}