On May 21, Hesai Technology announced unaudited financial data for the first quarter of 2024. This quarter’s core business was stable, and global pre-assembled mass production cooperation ushered in new breakthroughs. In the first quarter, Hesai Technology achieved revenue of 360 million yuan; total lidar delivery volume reached 59,101 units, a year-on-year increase of 69.7%; of which ADAS product delivery volume was 52,462 units, a year-on-year increase of 86.1%. The combined gross profit margin of Robotaxi business and ADAS business is 38.8%, demonstrating excellent operating efficiency and commercialization capabilities.

This quarter, Hesai’s overseas ADAS business achieved breakthrough progress. Relying on its excellent product technology strength and large-scale mass production delivery capabilities, Hesai has reached fixed-point cooperation in lidar mass production with two of the top ten international automobile manufacturers in the world by global revenue, including a global mass-produced model of a top international automobile brand. As of now, among the 10 international automakers with the highest revenue in the world on the Fortune Global 500 list, 6 automakers or their joint venture partners have reached designated mass production cooperation with Hesai relation.

Editor in charge: Wu Haotian