This article only represents the author's own views.

China ranks first in the world in shipments of vehicles equipped with laser imaging, detection and ranging sensors (LiDAR), a key component for autonomous driving, and is likely to retain that position after recently overtaking Japan to become the world’s largest auto exporter. In addition to its scale advantage as the world’s biggest auto market, the country also lacks legacy internal combustion engine technologies that are holding back many western auto giants as the industry enters a new era of electric, autonomous driving.

So, why is leading LiDAR technology company Hesai Group (HSAI.US) getting such a cold shoulder from Wall Street investors, despite reporting solid growth in its latest quarterly financial report since its Nasdaq IPO in February?