Hesai Group released its first-quarter 2026 financial results on Tuesday, providing an optimistic outlook. The company forecasts net revenue for the second quarter to be between 8.5 and 9 billion yuan, representing year-over-year growth of 20% to 27%. It also reaffirmed its full-year 2026 projection for LiDAR shipments, expected to reach between 3 and 3.5 million units.

The first-quarter performance was strong, with the company returning to profitability. Revenue for the quarter reached 681 million yuan, an increase of 29.6% year-over-year. Net profit was 18.3 million yuan, marking a turnaround from losses. On a non-GAAP basis, net profit reached 47.7 million yuan, surging 452.9% year-over-year. Total LiDAR shipments amounted to 471,700 units, a 140.9% increase, with ADAS shipments reaching 353,400 units and robotics shipments at 118,300 units, both setting new historical records.

The company holds a commanding lead in market share. According to Gasgoo Research Institute data, Hesai captured 55% of the Chinese in-cabin primary LiDAR market in March 2026, maintaining its position as the industry leader for 14 consecutive months. A report from the internationally recognized research firm Yole Group indicates that Hesai leads the global market for primary ADAS LiDAR shipments with a 43% share.

The company announced a strategic evolution, moving from "spatial perception" to "spatial intelligence," and launched the world's first 6D full-color LiDAR ultra-sensitive chip, "Picasso." Hesai also announced a strategic partnership with Mercedes-Benz for LiDAR. A newly established strategic growth business is expected to contribute approximately 100 million yuan in revenue in 2026, with a target to expand to around 500 million yuan in 2027.