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HSAI · NASDAQ · Auto - Parts

Hesai (ADR)

Builds three-dimensional lidar systems for vehicle automation and robotics.

$17.50

After-hours close+0.07 (+0.43%)

At close$17.43(−0.37%)

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Profile

Hesai GroupHSAIConsumer Discretionary

Develops, manufactures, and sells three-dimensional lidar systems for vehicles and robotics. Automotive-focused AT, ET, and FT series support driver-assistance systems, while other products serve autonomous passenger and freight fleets plus robotics applications.

Designs, manufactures, and sells three-dimensional lidar systems for passenger and commercial vehicles, autonomous passenger and freight fleets, and robotics. Automotive-focused AT, ET, and FT series support driver-assistance systems, while other applications include last-mile delivery, street-sweeping, and restricted-area logistics robots.

Operating from Shanghai, the founder-led group uses an integrated research, testing, and manufacturing approach. Its workforce is primarily in mainland China, with a smaller overseas presence.

Current applications extend to autonomous mobility, spatial intelligence, embodied AI, and industrial, agricultural, and service robots. The business remains subject to the U.S. Defense Department's Section 1260H designation, which it is challenging on appeal.

Company facts

CEOYifan Li

ListedFeb 9, 2023

ExchangeNASDAQ

HeadquartersShanghai, China

CountryChina

Employees1,118

CIK0001861737

ISINUS4280501085

Key statistics

Market cap$2.53B

EPS (ttm)$0.4806

P/E (ttm)36.24

ROE5.8%

P/B2.05

P/S4.23

Dividend yield—

Beta2.89vs XLY 0.04

Year to date −27.6% · Average volume (30d) 1.6M

Analysts

Price target, next 12 months$28.75+65.0%Median of 3 analysts · vs the Aug 28 close

ConsensusBuy2 of 3 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $17.42

High$31.00+78.0%

Median$28.75+65.0%

Low$26.50+52.1%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Prior rating	Rating	Prior target	Target
Aug 20, 2026	Goldman Sachs	Target			$36	$31
Jul 30, 2026	UBS	Target				$26.50
Feb 10, 2026	Macquarie	Target				$31.50
Sep 22, 2025	Goldman Sachs	Reiterate		Buy		$36
Jul 28, 2025	Morgan Stanley	Upgrade	Equal Weight	Overweight

Earnings

EPS

Estimate$0.14

ReportedDue Nov 10, 2026

Revenue

Estimate$168.5M

ReportedDue Nov 10, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 18, 2026Q2 FY26	$0.07	$0.01	−86.1%	$126.0M	$126.7M	+0.6%	−5.31%
May 19, 2026Q1 FY26	$0.01	$0.02	+119.5%	$96.5M	$98.6M	+2.2%	+1.15%
Mar 24, 2026Q4 FY25	$0.15	$0.13	−15.3%	$153.2M	$143.0M	−6.6%	−1.93%
Nov 11, 2025Q3 FY25	$0.22	$0.25	+15.6%	$152.2M	$111.7M	−26.6%	+3.66%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$78.2M	$105.1M	$118.3M	$148.9M	$101.3M	$229.3M
Gross profit	$32.6M	$44.7M	$49.8M	$61.1M	$39.6M	$91.0M
Operating income	−$5.0M	$3.4M	$11.5M	$8.4M	−$1.3M	−$947.2K
Net income	−$2.6M	$6.6M	$38.1M	$22.8M	$2.7M	$13.2M
Diluted EPS	−$0.02	$0.05	$0.26	$0.14	$0.02	$0.06
Gross margin	41.7%	42.5%	42.1%	41.0%	39.1%	39.7%
Operating margin	-6.4%	3.2%	9.7%	5.7%	-1.3%	-0.4%

Fiscal years (4-quarter sums)FY21 $107.2M · FY22 $178.9M · FY23 $279.3M · FY24 $309.1M · FY25 $450.5M

Revenue by product · FY25

Revenue From Lidar Products$442.4M · 98%

Engineering Design, Development And Validation Service And Solution Revenue$5.4M · 1%

Other Product Revenues$1.4M · 0%

Service, Other$1.3M · 0%

Revenue by geography · FY25

China$350.4M · 78%

North America$67.2M · 15%

Europe$20.8M · 5%

Other Geographical Region$12.1M · 3%

Balance sheet, Jun 30, 2026Cash & short-term investments $991.8M · Total debt $118.8M · Total assets $1.64B · Shareholders' equity $1.33B

Dividends

No dividends on record.

Ownership

Institutions 29.43%42.77M sharesInsiders 18.82%27.35M sharesOther 51.75%75.21M shares

Shares outstanding 145.33M · Float —

Float — provider float is below the insider stake.

The provider's float is smaller than the insider stake it should exclude, so it is not shown.

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
Kai Sun · director, officer: Chief Scientist	9.23M	6.35%	Form 4	Mar 18, 2026
Shaoqing Xiang · director, officer: Chief Technology Officer	9.06M	6.23%	Form 4	Mar 18, 2026
Yifan Li · director, officer: Chief Executive Officer	8.88M	6.11%	Form 4	Mar 18, 2026
Schroder Investment Management Group	7.94M	5.46%	13F	May 14, 2026
FMR LLC	3.68M	2.53%	13F	May 15, 2026

Insider tradesForm 4

No open-market trades in the last 12 months.