HESAI-W(02525) released its annual performance results with a net profit of 436 million yuan, turning losses into profits year-on-year.

HESAI-W (02525) released its quarterly and annual performance as of December 31, 2025. In the fourth quarter of 2025, the group achieved a net revenue of 1.001 billion yuan (same unit below), an increase of 39% year-on-year; net profit of 153 million yuan, an increase of 4.2% year-on-year; and basic earnings per share of 0.98 yuan. For the entire year of 2025, the group achieved a net revenue of 3.028 billion yuan, an increase of 45.8% year-on-year; net profit of 436 million yuan, turning losses into gains; and basic earnings per share of 3.13 yuan. Dr. Li Yifan, co-founder and CEO of HESAI, said: "2025 is a milestone year for us. HESAI has not only become the first laser radar company in the world to achieve profitability according to the Generally Accepted Accounting Principles for the entire year, but according to Gasgoo's data, we also ranked first in the 2025 market with over 40% market share in the automotive LiDAR market. As LiDAR becomes an indispensable 'invisible airbag' to ensure ADAS safety, we have successfully secured partnerships with all of the top ten OEM manufacturers in China and entered the mass market with vehicles priced below 100,000 yuan. At the same time, we have accurately grasped the market turning point for L3 level autonomous driving with multiple LiDAR assemblies, and through strategic partnerships with companies like NVIDIA, we are accelerating global expansion. These milestones are structurally increasing the value of LiDAR per vehicle and further expanding our potential market space. In addition to the automotive sector, vast opportunities are constantly emerging; according to data from GGII, Yole Group, and Frost & Sullivan, HESAI ranks first in major Siasun Robot & Automation submarkets such as humanoid and quadruped Siasun Robot & Automation, unmanned taxis, unmanned logistics vehicles, and grass cutting Siasun Robot & Automation. To meet the increasing demand in the ADAS and Siasun Robot & Automation sectors, we plan to increase annual production capacity to over 4 million units in 2026." Dr. Li added: "As the AI-driven Fourth Industrial Revolution accelerates, HESAI is committed to becoming a key enabler of physical AI, digitizing the real world, and redefining the way humans perceive and act with Siasun Robot & Automation. In the coming months, we will launch a new flagship product, each aimed at market opportunities worth trillions of yuan, turning vision into reality and laying a solid foundation for our growth in the next decade." Mr. Fan Peng, CFO of HESAI, said: "In 2025, we achieved significant milestones in both the scale and quality of our financial performance. Our net revenue exceeded 3 billion yuan (433 million US dollars), reaching a historic high, an increase of 46% year-on-year; at the same time, total shipments increased threefold to over 1.6 million units year-on-year. More importantly, thanks to strong revenue growth, strict cost control, and operational leverage improvements brought about by AI-driven R&D, manufacturing, and operational efficiency enhancements, we achieved the industry's first full year net profit under the Generally Accepted Accounting Principles of 436 million yuan (62 million US dollars) in 2025, as well as a non-GAAP net profit of 551 million yuan (79 million US dollars). We have recorded net profits under the GAAP for three consecutive quarters and under the non-GAAP for five consecutive quarters. At the same time, we have recorded positive operating cash flow for three consecutive years, with net assets increasing to approximately 9 billion yuan (1.3 million US dollars)." Mr. Fan added: "2026 will mark a new chapter for HESAI. We will raise our LiDAR shipment guidance to 3 to 3.5 million units and will soon release breakthrough new products to unlock future vast opportunities, further embodying our vision of 'empowering Siasun Robot & Automation, making human life more efficient and comfortable.'"