Hesai Group (HSAI.US) releases its latest financial report, showcasing a remarkable achievement in annual delivery volume doubling for four consecutive years, and setting a new revenue record in 2024.

On March 11, 2025, Hesai Group (NASDAQ: HSAI) released its unaudited financial data for the fourth quarter and full year of 2024. In 2024, Hesai Group achieved a record high revenue and market performance, leading the industry, with its annual delivery volume doubling for four consecutive years, becoming the first and only listed LiDAR company to achieve full-year profitability, and the first listed LiDAR company to achieve positive operating and net cash flow for the full year. Hesai Group achieved a full-year revenue of RMB2.08 billion in 2024, of which RMB720 million in the fourth quarter. In the fourth quarter, Hesai Group won the largest order in the overseas front-end production LiDAR field to date and reached a long-term exclusive cooperation with a European top-tier carmaker, covering multiple models of its gasoline and new energy vehicles. In the domestic market, Hesai Group's ATX is being planned as a standard configuration for its 2025 mass production models by many carmakers. As of now, Hesai Group has reached a production cooperation agreement with 120 models of 22 domestic and foreign carmakers. According to public data, nine of the top ten Chinese car manufacturers by market value in 2024 have already reached a production cooperation agreement with Hesai Group. Hesai Group will maintain a strong growth momentum in 2025, with a net revenue expected to reach RMB3 billion to RMB3.5 billion, and a GAAP profit of RMB200 million to RMB350 million, and a Non-GAAP profit expected to soar to RMB350 million to RMB500 million, which is 25 to 35 times that of 2024.