Hesai Group (02525) announced its financial results for the three months and full year ended December 31, 2025. In the fourth quarter of 2025, the group achieved net revenue of RMB 1.001 billion, representing a 39% increase compared to the same period last year. Net profit was RMB 153 million, up 4.2% year-on-year, with basic net earnings per ordinary share of RMB 0.98.

For the full year 2025, the group reported net revenue of RMB 3.028 billion, a 45.8% increase from the previous year. The company achieved a net profit of RMB 436 million, marking a significant turnaround from a net loss in the prior year. Basic net earnings per ordinary share for the full year stood at RMB 3.13.

Dr. Yifan Li, Co-founder and CEO of Hesai Group, stated, "2025 was a milestone year. Hesai not only became the first lidar company globally to achieve full-year GAAP profitability, but we also secured the top position in the automotive main lidar market for 2025 with a market share exceeding 40%, according to Gasgoo Automotive Research Institute. As lidar becomes an indispensable 'invisible airbag' for ADAS safety, we have successfully secured partnerships with all top ten Chinese OEMs and entered the mass market for vehicles priced under RMB 100,000. Furthermore, we have accurately captured the market inflection point for equipping L3 autonomous vehicles with multiple lidars and are accelerating global expansion through strategic partnerships with companies like NVIDIA. These milestones are structurally increasing the value of lidar per vehicle and significantly broadening our total addressable market."

"Beyond the automotive sector, vast opportunities are emerging. Data from GGII, Yole Group, and Frost & Sullivan indicates that Hesai holds the number one position in key robotics segments, including humanoid and quadruped robots, robotaxis, unmanned logistics vehicles, and robotic lawn mowers. To meet the surging demand in both ADAS and robotics, we plan to increase our annual production capacity to over 4 million units by 2026," Dr. Li added.

Dr. Li further commented, "As the AI-driven Fourth Industrial Revolution accelerates, Hesai is committed to being a key enabler for physical AI, digitizing the real world and redefining how humans and robots perceive and act. In the coming months, we will launch new flagship products, each targeting market opportunities worth trillions of RMB, translating our vision into reality and laying a solid foundation for our growth in the next decade."

Mr. Peng Fan, Chief Financial Officer of Hesai Group, said, "In 2025, we reached significant milestones in both the scale and quality of our financial performance. Net revenue surpassed RMB 3 billion (USD 433 million), reaching a record high with 46% year-on-year growth, while total shipments more than tripled to over 1.6 million units. More importantly, driven by robust revenue growth, stringent cost control, and improved operational leverage from AI-enhanced efficiencies across R&D, manufacturing, and operations, we achieved the industry's first full-year GAAP net profit of RMB 436 million (USD 62 million) in 2025, alongside a non-GAAP net profit of RMB 551 million (USD 79 million). We have now reported GAAP net profit for three consecutive quarters and non-GAAP net profit for five consecutive quarters. Simultaneously, we have maintained positive operating cash flow for three consecutive years, and our net assets have increased to approximately RMB 9 billion (USD 1.3 billion)."

Mr. Fan added, "2026 will mark a new chapter for Hesai. We have raised our lidar shipment guidance to 3.0-3.5 million units and will soon launch groundbreaking new products to unlock future opportunities, further advancing our vision to 'empower robotics to make human life more efficient and comfortable.'"