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 revenue by segment
By business segment
| Revenue | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|
| Single operating segment | CN¥3.03B | CN¥2.08B | CN¥1.88B | CN¥1.20B | – | – | 100.0% | +45.8% |
| LiDAR segment | – | – | – | CN¥1.18B | CN¥701.24M | CN¥346.92M | – | – |
| Gas detection segment | – | – | CN¥26.86M | CN¥23.97M | CN¥19.53M | CN¥68.60M | – | – |
By product or service
| Revenue | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue from LiDAR products | CN¥2.97B | CN¥1.95B | CN¥1.74B | CN¥1.12B | CN¥685.33M | CN¥346.07M | 98.2% | +52.7% |
| Engineering design, development and validation service and solution revenue | CN¥36.12M | CN¥100.29M | CN¥100.49M | CN¥43.10M | CN¥14.03M | – | 1.2% | -64.0% |
| Other product revenues | CN¥9.58M | CN¥19.26M | CN¥29.64M | CN¥29.63M | CN¥1.20M | CN¥847.00K | 0.3% | -50.3% |
| Other service revenues | CN¥8.54M | CN¥10.83M | CN¥11.61M | CN¥7.70M | CN¥676.00K | – | 0.3% | -21.2% |
| Revenue from gas detection products | – | – | CN¥26.86M | CN¥23.97M | CN¥19.53M | CN¥68.60M | – | – |
| Engineering design, development and validation service | – | – | – | CN¥43.10M | CN¥14.03M | – | – | – |
| Extended warranties | – | – | – | CN¥7.70M | CN¥676.00K | – | – | – |
By region
| Revenue | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|
| China | CN¥2.35B | CN¥1.54B | CN¥991.91M | – | – | – | 77.8% | +52.6% |
| North America | CN¥451.69M | CN¥280.87M | CN¥748.15M | CN¥358.55M | CN¥352.98M | CN¥201.19M | 14.9% | +60.8% |
| Europe | CN¥140.00M | CN¥161.10M | CN¥70.50M | CN¥86.15M | CN¥67.91M | CN¥16.59M | 4.6% | -13.1% |
| Other regions | CN¥81.16M | CN¥92.40M | CN¥66.43M | CN¥60.67M | CN¥30.24M | CN¥12.22M | 2.7% | -12.2% |
| Mainland China | – | CN¥1.54B | CN¥991.91M | CN¥697.29M | CN¥269.63M | CN¥185.52M | – | – |
From the segment and revenue-disaggregation notes of Hesai's 10-K and 10-Q filings (XBRL). Fourth-quarter figures are the fiscal year less the first nine months. Segment names follow the company's own labels and can change when it reorganizes.