Overview
- Hesai reported sustained GAAP profitability with second-quarter revenue up about 22% to RMB 861 million and GAAP net income rising 60% to RMB 71 million, marking its fifth consecutive profitable quarter.
- The core LiDAR business generated RMB 816 million in Q2 revenue and RMB 66 million in operating profit as total LiDAR shipments exceeded 628,000 units driven by ADAS demand and rapidly growing robotics orders.
- ADAS LiDAR shipments reached roughly 485,000 units while robotics LiDAR shipments climbed to about 142,000 units, reflecting a near-term shift of volume from automotive safety systems to broader robotics uses.
- Hesai began reporting a Strategic Growth Initiatives segment that contributed RMB 45 million in Q2, raised 2026 SGI guidance to RMB 200–300 million, and projects roughly US$100 million in SGI revenue with break-even in 2027.
- Management frames growth as a three-layer platform—LiDAR to 'see', the COSMO spatial-intelligence stack to 'understand', and actuation modules to 'act'—backed by OEM design wins with Great Wall Motor and Volkswagen-related brands and partnerships with over 50 embodied-AI firms.