Hesai Group Sponsored ADR ( (HSAI) ) has released its Q4 earnings. Here is a breakdown of the information Hesai Group Sponsored ADR presented to its investors.
Hesai Group is a global leader in three-dimensional light detection and ranging (lidar) solutions, primarily serving the automotive and robotics industries with innovative lidar products.
In its latest earnings report, Hesai Group announced record-breaking financial results for the fourth quarter and full year of 2024, showcasing significant growth in lidar shipments and revenue. The company achieved a milestone as the first lidar company to report full-year non-GAAP net profits.
Key financial highlights include a 28.3% increase in quarterly net revenues to RMB719.8 million and a full-year revenue of RMB2,077.2 million, marking a 10.7% increase from the previous year. The company shipped over 500,000 lidar units in 2024, with a notable surge in ADAS lidar shipments. Hesai also secured a groundbreaking design win with a top European OEM and expanded its partnerships with major automotive manufacturers like BYD and Great Wall Motor.
Hesai’s strategic focus on both the automotive and robotics sectors has positioned it for continued growth. The company launched new lidar products, such as the JT series for robotics, and anticipates further expansion in production capacity to meet increasing demand.
Looking ahead, Hesai Group projects robust revenue growth for 2025, with expectations of reaching RMB3.0 to 3.5 billion in net revenues. The company aims to maintain its industry leadership by capitalizing on emerging opportunities in the ADAS and robotics markets.