Hesai Group Stock Price, News & Analysis

Hesai (Nasdaq: HSAI), the global leader in lidar technology, will showcase at CES 2025 in Las Vegas (January 7-10) and launch a new mini 3D lidar device. The company, which has delivered over 600,000 units globally as of Q3 2024, will unveil this compact lidar solution during a press conference on January 7.

The new device, no larger than a billiard ball, combines high resolution with low power consumption and is designed for AGVs, AMRs, delivery robots, autonomous lawnmowers, and agricultural machinery. Celebrating its 10th anniversary, Hesai serves customers in over 40 countries, holds more than 1,700 patents, and maintains operations across Europe, the US, and Asia.

Hesai Group (NASDAQ: HSAI) reported Q3 2024 financial results with net revenues of RMB539.4 million (US$76.9 million), up 21.1% year-over-year. Total lidar shipments reached 134,208 units, a 182.9% increase from Q3 2023. ADAS lidar shipments grew 220% to 129,913 units. The company achieved a gross margin of 47.7%, up from 30.6% in Q3 2023. For Q4 2024, Hesai expects net revenues to approach US$100 million and projects 200,000 unit shipments. The company anticipates achieving full-year profitability on a non-GAAP basis for 2024, positioning it as the first automotive lidar company worldwide to reach this milestone.

Hesai Group (NASDAQ: HSAI), a global leader in 3D lidar solutions, announced it will release its Q3 2024 unaudited financial results on Monday, November 25, 2024, after U.S. markets close. The company will host an earnings conference call at 8:00 PM ET on November 25, 2024 (9:00 AM Beijing/Hong Kong Time on November 26, 2024). A live and archived webcast will be available on the company's investor relations website, with a replay accessible until December 3, 2024.

Hesai Technology (NASDAQ: HSAI), a global leader in lidar solutions, has been announced as the exclusive provider of automotive long-range lidar for Leapmotor's next-generation vehicle platform. The first model on this platform is expected to enter mass production in 2025. This exclusive partnership builds upon their existing collaboration in intelligent driving, with Hesai already supplying its AT128 lidar for Leapmotor's C-series intelligent driving edition models.

Leapmotor has begun sales in Europe, with over 200 dealers across 13 countries, and plans to expand to 500 sales points in Europe by the end of 2025. The partnership aims to accelerate Leapmotor's leadership in Advanced Driver-Assistance Systems (ADAS) and its global application.

Hesai Technology (Nasdaq: HSAI), the global leader in lidar technology, has announced a new partnership with SAIC Volkswagen to develop an automotive lidar program. This cooperation aims to create a new ecosystem for the automotive industry, leveraging Hesai's advanced lidar products and technology.

SAIC Volkswagen, a Sino-German joint venture between SAIC Group and Volkswagen Group, sold 1.2 million cars in 2023 and nearly 700,000 in the first eight months of this year. Hesai Technology, known for its integrated lidar manufacturing and R&D process, has delivered over 470,000 units to customers as of Q2 2024 and holds more than 1,700 patents and patent applications worldwide.

According to Yole Intelligence's Lidar for Automotive 2024 report, Hesai commands a 74% market share in the robotic car lidar market globally, with nine out of the top ten autonomous driving companies using Hesai's 360° high-performance lidar.

Hesai Technology (Nasdaq: HSAI) has unveiled its new lidar solution, OT128, at the IAA Transportation fair in Hannover. The OT128 is a 360° long-range lidar designed for Level 4 autonomous driving and high-precision applications. Key features include:

- Detection range up to 200 meters at 10% reflectivity
- Angular resolution of 0.1° x 0.125°
- Over 3.45 million data points per second
- 95% reduction in production time per unit
- Automotive-grade reliability with ASIL B certification
- Design life exceeding 30,000 hours

The OT128 has already gained traction with European partners like Embotech and EasyMile for various autonomous vehicle applications. Hesai leads the global robotic car lidar market with a 74% market share.

Hesai Technology, a global lidar industry leader, has become the first in the industry to obtain ISO 21448 Safety of the Intended Functionality (SOTIF) certification. This achievement, based on ISO 26262 functional safety and a QMS framework, underscores Hesai's advanced safety process system and integration of best practices in R&D. Since 2021, Hesai has developed a '3-in-1' safety system combining functional safety, SOTIF, and cybersecurity in lidar product design.

Hesai's innovations include a scenario library dimension table for testing perception features, proprietary active interference rejection technology, and the world's first Intelligent Point Cloud Engine (IPE). These advancements enhance lidar safety and stability in various conditions, effectively filtering out environmental noise and reducing misidentifications. The SOTIF certification significantly expands the operational design domain for intelligent driving systems, improving both user safety and driving experience.

Hesai Group reported Q2 2024 results with net revenues of RMB458.9 million (US$63.1 million), up 4.2% year-over-year. Total lidar shipments increased 66.1% to 86,526 units. Gross margin improved to 45.1% from 29.8% in Q2 2023. The company narrowed its net loss to RMB72.1 million (US$9.9 million).

Hesai secured design wins with four global OEMs and was selected as the exclusive long-range lidar supplier by the top 5 robotaxi companies in China. The company expects Q3 2024 revenues between RMB450-500 million, representing 1.0-12.2% year-over-year growth.

Hesai Group (NASDAQ: HSAI), a global leader in 3D lidar solutions, has released its first Environmental, Social and Governance (ESG) Report for 2023. The report highlights Hesai's ESG strategy, achievements, and progress towards sustainable development goals.

CEO Yifan 'David' Li emphasized the company's commitment to its mission of 'Empower Robotics, Elevate Lives' through advanced lidar solutions. Hesai aims to drive the future of robotics for a safer, more efficient world. The report covers Hesai's efforts in innovation, product quality, talent development, safety management, and sustainability.

Hesai plans to further integrate ESG principles into its business operations and development decisions, enhancing its sustainable development capabilities. The full 2023 ESG Report is available on Hesai's Investor Relations website.