Hesai Group Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	1,238	1,663	2,839	1,555	913.28	449.35
Short-Term Investments	4,479	3,102	373.23	1,608	957.86	2,352
Cash & Short-Term Investments	5,717	4,765	3,212	3,163	1,871	2,801
Cash Growth	100.09%	48.35%	1.57%	69.02%	-33.20%	210.30%
Accounts Receivable	1,166	1,357	797.28	544.51	497.64	232.36
Other Receivables	-	80.34	33.51	26.9	11.77	12.9
Receivables	1,166	1,437	830.78	571.41	509.41	245.26
Inventory	721.74	670.45	482.14	495.88	646.85	376.24
Prepaid Expenses	-	11.44	23.08	16.37	10.11	9.12
Restricted Cash	3.96	4.01	3.59	3.54	-	-
Other Current Assets	348.68	180.66	130.87	147.78	97.6	61.7
Total Current Assets	7,957	7,069	4,683	4,398	3,135	3,493
Property, Plant & Equipment	1,192	1,209	1,058	1,023	549.3	321.63
Long-Term Investments	1,541	2,782	31.8	31.81	31.86	1.9
Goodwill	-	-	-	-	3.82	3.5
Other Intangible Assets	131.77	134.52	116.43	119.47	62.21	62.02
Other Long-Term Assets	80.21	67.32	100.25	90.17	57.1	69.96
Total Assets	10,902	11,261	5,990	5,663	3,839	3,952
Accounts Payable	595.04	742.76	355.11	276.69	206.68	77.27
Accrued Expenses	383.28	431.02	373.37	280.02	214.38	250.83
Short-Term Debt	482.17	331.78	228.8	109.9	-	-
Current Portion of Long-Term Debt	-	116.46	116.45	1.78	-	-
Current Portion of Leases	-	36.76	16.1	34.99	34.98	-
Current Income Taxes Payable	27.52	27.16	-	-	-	-
Current Unearned Revenue	23.81	21.02	32.99	79.93	40.38	122.6
Other Current Liabilities	87.93	188.39	506.12	551.79	459.12	441.46
Total Current Liabilities	1,600	1,895	1,629	1,335	955.54	892.16
Long-Term Debt	258.16	278.73	269.44	285.9	18.47	-
Long-Term Leases	76.82	85.56	98.37	119.41	10.14	-
Long-Term Deferred Tax Liabilities	-	-	-	-	0.44	0.47
Other Long-Term Liabilities	41.82	42.91	61.13	59.81	6,000	5,550
Total Liabilities	1,977	2,303	2,058	1,800	6,985	6,443
Common Stock	0.11	0.11	0.09	0.09	0.04	0.04
Additional Paid-In Capital	11,958	11,926	7,577	7,424	-	-
Retained Earnings	-2,956	-2,974	-3,410	-3,307	-2,831	-2,189
Comprehensive Income & Other	-76.65	6.53	-235.75	-254.28	-313.84	-301.76
Total Common Equity	8,926	8,959	3,932	3,862	-3,145	-2,491
Shareholders' Equity	8,926	8,959	3,932	3,862	-3,145	-2,491
Total Liabilities & Equity	10,902	11,261	5,990	5,663	3,839	3,952
Total Debt	817.16	849.28	729.16	551.99	63.59	-
Net Cash (Debt)	4,900	3,916	2,483	2,611	1,808	2,801
Net Cash Growth	122.03%	57.71%	-4.89%	44.43%	-35.47%	210.30%
Net Cash Per Share	31.74	26.74	19.22	20.92	15.65	26.68
Filing Date Shares Outstanding	156.21	156.44	132.47	127.48	125.53	115.53
Total Common Shares Outstanding	156.21	156.15	131.16	127.03	115.53	60.98
Working Capital	6,357	5,174	3,054	3,063	2,180	2,601
Book Value Per Share	57.14	57.37	29.98	30.41	-27.22	-40.84
Tangible Book Value	8,794	8,824	3,815	3,743	-3,211	-2,556
Tangible Book Value Per Share	56.29	56.51	29.09	29.46	-27.79	-41.92
Land	-	42.44	39.31	39.31	-	-
Buildings	-	342.71	342.67	-	-	-
Machinery	-	908.85	689.58	384.7	260.54	94.08
Construction In Progress	-	77.44	65.4	534.4	264.75	218.46
Leasehold Improvements	-	112.87	81.43	67.68	64	48.9