Core Insights - Hesai Technology has secured a new exclusive design win with a leading European OEM for advanced ultra-long-range automotive lidars, marking a significant milestone in the automotive lidar industry [1] - This multi-year program will extend into the next decade and is noted as the largest global program for automotive lidar [1] - The partnership underscores Hesai's reputation for performance and quality, reinforcing its position in the market [2] Company Overview - Hesai Technology is recognized as a global leader in lidar solutions, catering to a wide range of applications including passenger and commercial vehicles, autonomous driving, and robotics [3] - The company integrates in-house manufacturing with lidar R&D and design, allowing for rapid product iteration while maintaining high performance and affordability [3] - Hesai has established a global presence with offices in Shanghai, Palo Alto, and Stuttgart, serving customers in over 40 countries [3] Market Position - As of February 2025, Hesai has achieved 120 design wins across 22 automotive OEMs, indicating strong market penetration [2] - In December 2024, Hesai became the first lidar company to deliver over 100,000 units in a single month, showcasing its production capabilities [2]

Core Insights - Hesai Group achieved record-breaking lidar shipments in 2024, with total shipments exceeding 500,000 units, marking a doubling in shipments for four consecutive years [2][11] - The company reported full-year net revenues of RMB2,077.2 million (US$284.6 million), a 10.7% increase from the previous year, and became the first lidar company to achieve full-year non-GAAP net profits of RMB14 million [2][15] - The company anticipates significant growth in 2025, forecasting net revenues between RMB3.0 billion (US$411 million) and RMB3.5 billion (US$480 million) [3][16] Financial Performance - Quarterly net revenues for Q4 2024 were RMB719.8 million (US$98.6 million), up 28.3% from RMB561.2 million in Q4 2023 [12][15] - The gross margin for the full year of 2024 was 42.6%, an increase from 35.2% in 2023, attributed to effective cost and scale optimization [13][15] - The company reported a net income of RMB147.0 million (US$20.1 million) for Q4 2024, compared to a net loss of RMB140.9 million in the same period of 2023 [12][21] Business Developments - Hesai secured a groundbreaking, exclusive design win with a top European OEM, marking the largest global program for the automotive lidar industry [6][10] - The ATX long-range lidar is positioned to drive widespread adoption by offering cost-effective solutions for vehicle models priced as low as RMB100,000 [6][10] - The company has established partnerships with major domestic OEMs, including BYD, Great Wall Motor, and Changan, to enhance its market presence [2][10] Operational Highlights - In Q4 2024, ADAS lidar shipments reached 193,238 units, a 140.3% increase from the same period in 2023 [11][12] - Total lidar shipments for the full year of 2024 were 501,889 units, representing a 126.0% increase from 222,116 units in 2023 [11][15] - The company launched the JT series mini 3D mechanical lidar for Robotics, with mass production beginning in December 2024 [10][11] Market Outlook - The lidar industry is undergoing a transformation, with Hesai's products becoming essential for intelligent driving, akin to the importance of seat belts [2] - The company expects to continue its growth trajectory, with a forecasted increase in revenues and profitability for 2025 [3][16] - The Robotics market presents significant opportunities, with the company actively expanding its lidar applications in various sectors [2][10]

Group 1 - The article focuses on the investment service "Asia Value & Moat Stocks," which targets value investors looking for Asia-listed stocks with significant discrepancies between price and intrinsic value [1] - The service emphasizes deep value balance sheet bargains, such as net cash stocks and low price-to-book (P/B) stocks, as well as wide moat stocks that represent high-quality businesses [1] - The analyst has upgraded the rating for Hesai (HSAI) from Hold to Buy, anticipating that the upcoming Q2 '24 financial results will impress investors [1] Group 2 - The investing group provides a range of watch lists with monthly updates, specifically focusing on investment opportunities in the Hong Kong market [1]

Group 1 - Hesai Group Sponsored ADR (HSAI) has shown strong year-to-date performance, returning approximately 37.1%, significantly outperforming the Auto-Tires-Trucks sector, which has returned an average of -16.6% [4] - The Zacks Consensus Estimate for HSAI's full-year earnings has increased by 340% in the past quarter, indicating improved analyst sentiment and a stronger earnings outlook [4] - HSAI currently holds a Zacks Rank of 2 (Buy), suggesting it is poised to outperform the broader market in the near term [3] Group 2 - Hesai Group is part of the Automotive - Original Equipment industry, which consists of 50 stocks and is currently ranked 167 in the Zacks Industry Rank [6] - The Automotive - Original Equipment industry has gained about 4% year-to-date, indicating that HSAI is performing better than its peers within this specific group [6] - Another stock in the Auto-Tires-Trucks sector, Mister Car Wash (MCW), has also outperformed the sector with a year-to-date return of 3.7% and holds a Zacks Rank of 2 (Buy) [5][7]

STUTTGART, Germany, Feb. 27, 2025 /PRNewswire/ -- Hesai Technology (NASDAQ: HSAI), the global leader in lidar technology for automotive mobility and robotics applications, announced today that it holds the largest number of published patent applications for lidar globally, and its IP portfolio has further expanded with the acquisition of Swiss digital lidar patents. Patent volume is an important indicator to measure a high-tech company's innovation capabilities. As of December 2024, Hesai has accumulated ne ...

SHANGHAI, China, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Hesai Group ("Hesai," "Hesai Technology" or the "Company") (NASDAQ:HSAI), the global leader in three-dimensional light detection and ranging (lidar) solutions, today announced that it will report its fourth quarter and full year 2024 unaudited financial results on Monday, March 10, 2025, after the close of U.S. markets. The Company's management will host an earnings conference call at 9:00 PM U.S. Eastern Time on March 10, 2025 (9:00 AM Beijing/Hong Kong Ti ...

Group 1 - Hesai Group Sponsored ADR (HSAI) is a notable stock within the Auto-Tires-Trucks sector, currently outperforming the sector with a year-to-date gain of 23.7% compared to the sector's average return of -8.3% [4] - The Zacks Rank for HSAI is 2 (Buy), indicating a favorable outlook based on earnings estimate revisions and improving earnings sentiment [3] - The Zacks Consensus Estimate for HSAI's full-year earnings has increased by 866.7% in the past quarter, reflecting a positive trend in analyst sentiment [4] Group 2 - The Auto-Tires-Trucks group ranks 12 within the Zacks Sector Rank, which assesses the strength of 16 sector groups based on the average Zacks Rank of individual stocks [2] - Hesai Group is part of the Automotive - Original Equipment industry, which consists of 50 stocks and currently ranks 159 in the Zacks Industry Rank, with an average gain of 2.5% year-to-date [6] - Another stock in the Auto-Tires-Trucks sector, Phinia (PHIN), has also shown positive performance with a year-to-date increase of 2.3% and a Zacks Rank of 2 (Buy) [5]

SHANGHAI, Feb. 11, 2025 /PRNewswire/ -- Hesai Technology (Nasdaq: HSAI), the global leader in automotive lidar technology, today announced that it will deepen its cooperation with BYD and will provide automotive lidar for more than 10 BYD models. The models are expected to enter mass production in 2025. In 2024, BYD sold over 4 million intelligent driving-equipped vehicles, surpassing all domestic competitors. This week, BYD announced that all its models will be equipped with "God's Eye", BYD's next-generat ...

STUTTGART, Germany, Jan. 28, 2025 /PRNewswire/ -- Hesai Technology (Nasdaq: HSAI), Outsight, and Embotech AG announce a strategic collaboration to deliver cutting-edge lidar technology and perception software for Embotech's AVM technology deployed in BMW facilities and known internally at BMW as Automated Driving In-Plant (AFW). This collaboration brings together industry leaders in autonomous driving solutions and sensing technology.Embotech is the system provider for BMW's recently announced Automated Dri ...

SHANGHAI, Jan. 21, 2025 /PRNewswire/ -- Hesai Technology (Nasdaq: HSAI), the global leader in automotive lidar technology, today announced that it has secured design wins for multiple Chery Automobile models. The models are expected to enter mass production in the second half of 2025 and will be equipped with the newest generation of Hesai's ultra-compact high-performance ATX lidar.Chery's vehicle line-up includes passenger cars, commercial vehicles, and urban mobility vehicles. Chery recently reported a 38 ...