HSAINasdaqGeneral Industrial Machinery & Equipment, NECFiscal year ends December 31Also trades as HSIGF

Hesai Group

Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 24, 2026

$12.92+0.50 (+4.03%)

Close on Oct 19, 2026

Hesai Group income statement

AnnualQuarterlyTTM

CNY USD

Millions of CNY, except per-share data. Shares in millions.

Line item	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31
Revenue	3,028	2,077	1,877	1,203	16	416
Cost of Revenue	1,762	1,193	1,216	731	339	177
Gross Profit	1,265	885	661	472	382	239
Research & Development	797	856	791	555	368	230
Selling, General & Admin	481	510	469	306	306	126
Selling & Marketing	192	193	149	105	69	50
General & Administrative	289	317	320	201	237	77
Operating Expenses	1,096	1,089	1,233	850	647	341
Operating Income	169	-205	-572	-378	-265	-102
Interest Expense	19	13	3.07	0	–	–
Income from Equity Investments	-0.07	-0.01	-0.05	-0.05	-0.08	0.00
Other Non-Operating Income	185	-2.48	0.03	-2.16	0.12	-0.83
Asset Impairment Charges	22	0	0	–	–	–
Gain (Loss) on Investments	176	0	0	–	–	–
Gain (Loss) on Sale of Assets	-6.58	-1.89	0	-0.37	-0.17	-0.03
Pretax Income	467	-101	-475	-301	-246	-107
Income Tax Expense	31	1.13	0.66	-0.07	-1.12	-0.20
Net Income	436	-102	-476	-301	-245	-107
Net Income to Common	436	-102	-476	-747	-2,456	-107
EPS (Basic)(per share)	3.13	-0.79	-3.81	-6.47	-23.39	-1.19
EPS (Diluted)(per share)	2.98	-0.79	-3.81	-6.47	-23.39	-1.19
Shares Outstanding (Basic, Weighted)(shares)	139	129	125	116	105	90
Shares Outstanding (Diluted, Weighted)(shares)	146	129	125	116	105	90
EBITDA	293	-73	-485	-325	-237	-83
Provision for Credit Losses	0	0	0	-1.81	2.56	4.17

Italic numbers are calculated by StockData (for example Q4 = full year − nine months). Per-share data and share counts are adjusted for stock splits. Hover a number for its source; click it to open the filing on SEC.gov. Click a row to chart it.

Ratios

Latest available, balances at Dec 31, 2025

Profitability, FY2025

Gross margin: 41.8%
Operating margin: 5.6%
Net margin: 14.4%
Return on equity, FY2025: 6.8%

Financial strength

Current ratio: 3.73
Debt to equity: 0.08
Debt to assets: 6.5%
Cash to current liabilities: 87.8%

Valuation

P/E ratio: –
Price to sales: –
Price to book: –
Dividend yield: –

Valuation ratios need the share price and fill in once daily prices are connected.