Hesai Group Swings to Profit Amid Higher Sales in Q3; Shares Jump Premarket

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Hesai Group (HSAI) reported Q3 non-GAAP earnings early Tuesday of 2 renminbi ($0.28) per diluted share, versus a loss of 0.34 renminbi a year earlier.

Net revenue for the quarter ended Sept. 30 was 795.4 million renminbi, up from 539.4 million renminbi a year earlier.

The company expects Q4 revenue to be between 1 billion renminbi and 1.2 billion renminbi.

Shares of the company traded over 5% higher in recent premarket activity Tuesday.

Price: 24.33, Change: +1.27, Percent Change: +5.51

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