Hesai Group Class B (HK:2525)
:2525
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Earnings Data
Report Date
Aug 19, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.9Last Year’s EPS
0.35Same Quarter Last Year
Strong Buy
Based on 14 Analysts Ratings
Earnings Call Summary
Q1 2026
Earnings Call Date:May 19, 2026|
% Change Since:
|
Earnings Call Sentiment|Positive
The call was largely positive: management reported strong top‑line growth (Q1 revenues +30% YoY), healthy gross margins (>39%), profitable core lidar operations (RMB 42M operating profit), accelerating shipments, clear market leadership (43% global ADAS share, 55% China share) and several high‑profile design wins including Mercedes‑Benz. At the same time, the company is investing heavily in its Strategic Growth Initiatives (Kosmo and robotic actuation), which produced an SGI operating loss (RMB 51M) and added to operating expenses (+9% YoY). ASP pressure from mix shifts is noted but framed as a sign of mainstream adoption, and management provided an optimistic multi‑year scaling path for SGI. Overall, the positive operational momentum, technology road map and customer wins outweigh the near‑term investment‑related negatives.Company Guidance
Strategic Mercedes‑Benz Partnership for Level 3
Confirmed strategic lidar partner and supplier for Mercedes‑Benz Level 3 models (Europe and China) with production supported by new Galileo manufacturing center in Thailand — a major customer validation and global expansion milestone.
Ambitious Shipment Guidance and Record Prior Year
Delivered 1.6 million lidar units in 2025 and reiterated 2026 shipment guidance of ~3.0–3.5 million units (roughly 2x prior year), with backlog exceeding 6 million units.
Strong Q1 Revenue Growth
Q1 2026 total net revenues RMB 681 million (USD 99 million), up 30% year‑over‑year — the company's eighth consecutive quarter of YoY revenue growth.
Robust Shipment and Segment Momentum
Q1 lidar shipments over 471,000 units with ADAS and robotics shipments more than doubling YoY; Q2 2026 shipment outlook ~650,000 lidars.
Healthy Margins and Profitability Run
Gross margin remained healthy at >39%; GAAP net income RMB 18 million (USD 2.7 million) and non‑GAAP net income RMB 48 million (USD 6.9 million). This marks 4 consecutive quarters of GAAP profitability and 6 consecutive on a non‑GAAP basis.
Market Leadership and Share Gains
Ranked #1 globally in long‑range ADAS lidar shipments with 43% market share in 2025 (Yole) and reported China market share of 55% (Gasgoo, March 2026) — 14 consecutive months as #1 in China.
Product and Technology Breakthroughs (Picasso, ETX, FTX)
Introduced Picasso (6D full‑color SPAD‑SoC) and ETX flagship supporting up to 4,320 channels and 600m range; began SOP for revamped ATX and achieved first mass production deployment of FTX blind‑spot lidar with Li Auto (deliveries commenced May 15, 2026).
Kosmo Spatial Intelligence Device and Early Commercial Traction
Launched Kosmo (AI algorithm‑integrated spatial intelligence device). Claimed reconstruction efficiency: for 200 sqm, ~1/5 the time of existing 3DGS and ~1/50 of traditional workflows. Early orders in place and SGI projected to contribute ~RMB 100 million revenue in 2026, with a path to ~RMB 500 million in 2027.
Robotics and New Market Wins
Expanded robotics footprint with exclusive design win for Zelos (200,000 units), KargoBot ETX design win (Phase II), strengthened position with Neolix, and secured FTX win with NIU for high‑volume 2‑wheelers — signaling diversified end markets.
Q2 Revenue Outlook and Progressive Growth
Q2 2026 revenue guidance RMB 850–900 million (USD 123–130 million), representing ~20%–27% YoY growth; management expects sequential strengthening throughout the year.
HK:2525 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
HK:2525 Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 19, 2026 | HK$176.40 | HK$174.20 | -1.25% |
Mar 16, 2026 | HK$188.90 | HK$192.80 | +2.06% |
Nov 17, 2025 | HK$154.90 | HK$152.70 | -1.42% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Hesai Group Class B (HK:2525) report earnings?
Hesai Group Class B (HK:2525) is schdueled to report earning on Aug 19, 2026, After Close (Confirmed).
What is Hesai Group Class B (HK:2525) earnings time?
Hesai Group Class B (HK:2525) earnings time is at Aug 19, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
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What is the P/E ratio of Hesai Group Class B stock?
The P/E ratio of Hesai Group Class B is N/A.
What is HK:2525 EPS forecast?
HK:2525 EPS forecast for the fiscal quarter 2026 (Q2) is 0.9.