Hesai Technology releases its 2025 financial report.

Hesai Technology released its 2025 financial report, showing revenue of RMB 3.028 billion, a year-on-year increase of 45.8%. Product revenue was RMB 2.983 billion, a year-on-year increase of 51.7%, accounting for 98.5% of total revenue. Total LiDAR shipments reached 1.6204 million units, a year-on-year increase of 222.9%. Hesai Technology expects net revenue for the first quarter of 2026 to be between RMB 650 million and RMB 700 million, representing a year-on-year increase of approximately 24% to 33%.