Investors can contact the law firm at no cost to learn more about recovering their losses ​LOS ANGELES, June 24, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Hesai Group (“Hesai” or the “Company”) (NASDAQ: HSAI) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Hesai investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq. Investors are encouraged to contact attorney Lesley F. ...

Labor shortages are pushing companies to take unprecedented steps such as offering non-market wages and better working conditions. As a result, countries are opening their doors more widely to talent from abroad. The retirement age is also rising, as the available labor force is not enough to meet the needs of the economies. According to analysts, the worldwide shortage of 85 million workers will be expected by 2030. This can be equated to $8.5 trillion in losses due to staff shortages. Therefore, automatio ...

Core Viewpoint - Pomerantz LLP is investigating potential securities fraud or unlawful business practices involving Hesai Group and its executives, following a significant decline in the company's financial performance [1][2]. Financial Performance - Hesai reported unaudited financial results for Q1 2024, with revenue of $19.28 million, a year-over-year decline of 59.2%, and missing consensus estimates by $27.68 million [2]. - The CEO attributed the revenue decline to "typical seasonal factors" and "slower demand in our robotaxi business compared with the previous year" [2]. Market Reaction - Following the announcement of the financial results, Hesai's American depositary receipt price fell by $0.73 per share, or 13.88%, closing at $4.53 per share on May 21, 2024 [2].

股 票 研 究 [Table_industryInfo] 海外信息科技 [ Table_Main[ 禾 TIna 赛fbole] （ _T Hitl Se A] I.US） [评Tab级le_：Inv est] 增持 当前价格（美元）： 5.26 毛利率持续优化，新签海外 OEM 支撑后续业绩 2024.05.21 海 [ Table_Market] 交易数据 外 秦和平(分析师) 李奇(分析师) 52周内股价区间（美元） 3.28-13.98 公 0755-23976666 0755-23976888 当前股本（百万股） 127.48 司 qinheping027734@gtjas.com liqi028295@gtjas.com 当前市值（百万美元） 670.54 （ 证书编号 S0880523110003 S0880523060001 美 本报告导读： [ Table_PicQuote] 国 Q1出货量、收入略超预期，毛利率亮眼。后续关注与海外OEM合作进展。 52周股价走势图 ） 摘要： 禾赛 纳斯达克综指 [T ab目le_标Su价mm8.a9ry美] 元，维持“增持”评级。我们小幅调整禾赛FY2 ...

Hesai Group (NASDAQ:HSAI) Q1 2024 Results Conference Call May 21, 2024 9:00 PM ET Company Participants Yuanting Shi - Investor Relations Director Yifan Li - Co-Founder, CEO & Director Conference Call Participants Stanley Wang - Morgan Stanley Jeff Chung - Citi Tina Hou - Goldman Sachs Bin Wang - Deutsche Bank Jessie Lo - BofA Zhang Yu - Huatai Securities Michelle Jing - HTI Operator Hello, ladies and gentlemen. Thank you for standing by for Hesai Group's First Quarter 2024 Earnings Conference Call. [Operato ...

Core Insights - Hesai Group reported quarterly net revenues of RMB359.1 million (US$49.7 million) for Q1 2024, a decrease of 16.5% from RMB429.9 million in Q1 2023 [1][8] - Total lidar shipments reached 59,101 units in Q1 2024, marking a 69.7% increase from 34,834 units in the same period of 2023 [2][3] - The company aims to achieve profitability by Q4 2024, driven by effective cost management and strategic initiatives [3] Operational Highlights - ADAS lidar shipments were 52,462 units in Q1 2024, up 86.1% from 28,195 units in Q1 2023 [2] - Autonomous Mobility lidar shipments accounted for 6,639 units in Q1 2024 [2] - The company has launched the ATX, a new ultra-compact high-performance long-range ADAS lidar, expected to begin production in Q1 2025 [5] Business Developments - Hesai secured design wins with four prominent global automotive OEMs, including partnerships with a top global automotive OEM and a major global OEM's joint venture [6] - A strategic partnership was established with Marelli to integrate the ATX into innovative headlamp designs [6] - The company has secured ADAS design wins with 18 OEMs and Tier 1 suppliers globally across approximately 70 vehicle models [6] Financial Performance - Gross margin improved to 38.8% in Q1 2024, compared to 37.8% in Q1 2023 [9] - Loss from operations increased to RMB138.5 million (US$19.2 million) in Q1 2024, up 8.2% from RMB128.0 million in Q1 2023 [12] - Net loss for Q1 2024 was RMB106.9 million (US$14.8 million), a decrease of 10.1% from RMB118.9 million in Q1 2023 [13] Future Outlook - For Q2 2024, the company expects net revenues to be between RMB440 million (US$60.9 million) and RMB460 million (US$63.7 million), indicating a year-over-year increase of approximately 0% to 4.5% [14]

Quarterly net revenues were RMB359.1 million (US$49.7 million)1Quarterly lidar shipments were 59,101 units SHANGHAI, China, May 20, 2024 (GLOBE NEWSWIRE) -- Hesai Group (“Hesai” or the “Company”), (NASDAQ: HSAI), the global leader in three-dimensional light detection and ranging (lidar) solutions, today announced its unaudited financial results for the three months ended March 31, 2024. Operational Highlights  Three monthsended March 31, 2024ADAS lidar shipments52,462Autonomous Mobility lidar shipments6,63 ...

PALO ALTO, Calif., May 13, 2024 /PRNewswire/ -- Hesai Group (NASDAQ: HSAI) ("Hesai" or the "Company"), the global leader in three-dimensional light detection and ranging (lidar) solutions, today announced that Louis T. Hsieh has resigned from his positions as the Global Chief Financial Officer (CFO) and Board Director of Hesai for personal and family reasons, effective today. The Company greatly appreciates Mr. Hsieh's significant contributions to Hesai's business, financial management, capital markets tran ...

SHANGHAI, China, April 29, 2024 (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 first quarter 2024 unaudited financial results on Monday, May 20, 2024, 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 May 20, 2024 (9:00 AM Beijing/Hong Kong Time on May 21, 2024 ...

SHANGHAI, China, April 29, 2024 (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 first quarter 2024 unaudited financial results on Monday, May 20, 2024, 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 May 20, 2024 (9:00 AM Beijing/Hong Kong Time on May 21, 202 ...