Hesai Group Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	1,663	2,839	1,555	913.28	449.35
Short-Term Investments	3,092	373.23	1,608	957.86	2,352
Cash & Short-Term Investments	4,755	3,212	3,163	1,871	2,801
Cash Growth	48.04%	1.57%	69.02%	-33.20%	210.30%
Accounts Receivable	1,357	797.28	544.51	497.64	232.36
Other Receivables	-	33.51	26.9	11.77	12.9
Receivables	1,357	830.78	571.41	509.41	245.26
Inventory	670.45	482.14	495.88	646.85	376.24
Prepaid Expenses	-	23.08	16.37	10.11	9.12
Restricted Cash	4.01	3.59	3.54	-	-
Other Current Assets	282.43	130.87	147.78	97.6	61.7
Total Current Assets	7,069	4,683	4,398	3,135	3,493
Property, Plant & Equipment	1,209	1,058	1,023	549.3	321.63
Long-Term Investments	2,782	31.8	31.81	31.86	1.9
Goodwill	-	-	-	3.82	3.5
Other Intangible Assets	134.52	116.43	119.47	62.21	62.02
Other Long-Term Assets	67.32	100.25	90.17	57.1	69.96
Total Assets	11,261	5,990	5,663	3,839	3,952
Accounts Payable	742.76	355.11	276.69	206.68	77.27
Accrued Expenses	578.5	373.37	280.02	214.38	250.83
Short-Term Debt	448.23	228.8	109.9	-	-
Current Portion of Long-Term Debt	-	116.45	1.78	-	-
Current Portion of Leases	-	16.1	34.99	34.98	-
Current Income Taxes Payable	27.16	-	-	-	-
Current Unearned Revenue	21.02	32.99	79.93	40.38	122.6
Other Current Liabilities	77.67	506.12	551.79	459.12	441.46
Total Current Liabilities	1,895	1,629	1,335	955.54	892.16
Long-Term Debt	278.73	269.44	285.9	18.47	-
Long-Term Leases	85.56	98.37	119.41	10.14	-
Long-Term Deferred Tax Liabilities	-	-	-	0.44	0.47
Other Long-Term Liabilities	42.91	61.13	59.81	6,000	5,550
Total Liabilities	2,303	2,058	1,800	6,985	6,443
Common Stock	0.11	0.09	0.09	0.04	0.04
Additional Paid-In Capital	11,926	7,577	7,424	-	-
Retained Earnings	-2,974	-3,410	-3,307	-2,831	-2,189
Comprehensive Income & Other	6.53	-235.75	-254.28	-313.84	-301.76
Total Common Equity	8,959	3,932	3,862	-3,145	-2,491
Shareholders' Equity	8,959	3,932	3,862	-3,145	-2,491
Total Liabilities & Equity	11,261	5,990	5,663	3,839	3,952
Total Debt	812.52	729.16	551.99	63.59	-
Net Cash (Debt)	3,943	2,483	2,611	1,808	2,801
Net Cash Growth	58.79%	-4.89%	44.43%	-35.47%	210.30%
Net Cash Per Share	26.93	19.22	20.92	15.65	26.68
Filing Date Shares Outstanding	156.27	132.47	127.48	125.53	115.53
Total Common Shares Outstanding	156.27	131.16	127.03	115.53	60.98
Working Capital	5,174	3,054	3,063	2,180	2,601
Book Value Per Share	57.33	29.98	30.41	-27.22	-40.84
Tangible Book Value	8,824	3,815	3,743	-3,211	-2,556
Tangible Book Value Per Share	56.47	29.09	29.46	-27.79	-41.92
Land	-	39.31	39.31	-	-
Buildings	-	342.67	-	-	-
Machinery	-	689.58	384.7	260.54	94.08
Construction In Progress	-	65.4	534.4	264.75	218.46
Leasehold Improvements	-	81.43	67.68	64	48.9

Source: S&P Global Market Intelligence. Standard template. Financial Sources.