Hesai Group Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	2,564	2,839	1,555	913.28	449.35	256.69
Short-Term Investments	4,801	373.23	1,608	957.86	2,352	646.01
Cash & Short-Term Investments	7,365	3,212	3,163	1,871	2,801	902.69
Cash Growth	191.42%	1.57%	69.02%	-33.20%	210.30%	-12.44%
Accounts Receivable	1,233	797.28	544.51	497.64	232.36	94.66
Other Receivables	-	33.51	26.9	11.77	12.9	34.27
Receivables	1,233	830.78	571.41	509.41	245.26	128.92
Inventory	642.76	482.14	495.88	646.85	376.24	149.93
Prepaid Expenses	-	23.08	16.37	10.11	9.12	8.3
Restricted Cash	4.05	3.59	3.54	-	-	-
Other Current Assets	280.86	130.87	147.78	97.6	61.7	19.4
Total Current Assets	9,525	4,683	4,398	3,135	3,493	1,209
Property, Plant & Equipment	1,146	1,058	1,023	549.3	321.63	63.84
Long-Term Investments	30	31.8	31.81	31.86	1.9	1.99
Goodwill	-	-	-	3.82	3.5	3.64
Other Intangible Assets	132.46	116.43	119.47	62.21	62.02	14.26
Other Long-Term Assets	79.35	100.25	90.17	57.1	69.96	19.16
Total Assets	10,913	5,990	5,663	3,839	3,952	1,312
Accounts Payable	607.35	355.11	276.69	206.68	77.27	55.44
Accrued Expenses	465.03	373.37	280.02	214.38	250.83	64.86
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	27.55	-	-	-	-	0.01
Current Unearned Revenue	39.09	32.99	79.93	40.38	122.6	9.36
Other Current Liabilities	67.91	506.12	551.79	459.12	441.46	37.08
Total Current Liabilities	1,655	1,629	1,335	955.54	892.16	166.74
Long-Term Debt	315.39	269.44	285.9	18.47	-	-
Long-Term Leases	71.73	98.37	119.41	10.14	-	-
Long-Term Deferred Tax Liabilities	-	-	-	0.44	0.47	0.58
Other Long-Term Liabilities	30.05	61.13	59.81	6,000	5,550	7.61
Total Liabilities	2,072	2,058	1,800	6,985	6,443	174.93
Common Stock	0.11	0.09	0.09	0.04	0.04	-
Additional Paid-In Capital	11,897	7,577	7,424	-	-	1,194
Retained Earnings	-3,127	-3,410	-3,307	-2,831	-2,189	-56.05
Comprehensive Income & Other	70.43	-235.75	-254.28	-313.84	-301.76	-0.62
Total Common Equity	8,840	3,932	3,862	-3,145	-2,491	1,137
Shareholders' Equity	8,840	3,932	3,862	-3,145	-2,491	1,137
Total Liabilities & Equity	10,913	5,990	5,663	3,839	3,952	1,312
Total Debt	835.35	729.16	551.99	63.59	-	-
Net Cash (Debt)	6,529	2,483	2,611	1,808	2,801	902.69
Net Cash Growth	242.54%	-4.89%	44.43%	-35.47%	210.30%	-12.44%
Net Cash Per Share	47.28	19.22	20.92	15.65	26.68	10.04
Filing Date Shares Outstanding	136.39	132.47	127.48	125.53	115.53	89.9
Total Common Shares Outstanding	136.39	131.16	127.03	115.53	60.98	89.9
Working Capital	7,870	3,054	3,063	2,180	2,601	1,042
Book Value Per Share	64.82	29.98	30.41	-27.22	-40.84	12.65
Tangible Book Value	8,708	3,815	3,743	-3,211	-2,556	1,119
Tangible Book Value Per Share	63.85	29.09	29.46	-27.79	-41.92	12.45
Land	-	39.31	39.31	-	-	-
Buildings	-	342.67	-	-	-	-
Machinery	-	689.58	384.7	260.54	94.08	46.09
Construction In Progress	-	65.4	534.4	264.75	218.46	5.06
Leasehold Improvements	-	81.43	67.68	64	48.9	32.49

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