Hesai Technology Announces Financial Data for the Third Quarter of 2024, with Revenues Hugely Increased

Hesai Technology (NASDAQ: HSAI) reported in its third quarter 2024 financial report that the company's revenue reached RMB 540 million, a year-on-year increase of 21.1%. The total delivery volume of LiDAR in the quarter reached 134,208 units, a year-on-year increase of 182.9%, of which the delivery volume of ADAS products was 129,913 units, a year-on-year increase of 220.0%. Benefiting from cost control and economies of scale, the combined gross profit margin of ADAS and Robotaxi businesses was 47.7%.