Hesai Group Income Statement

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
Revenue	3,028	2,077	1,877	1,203	720.77
Revenue Growth (YoY)	45.76%	10.66%	56.07%	66.86%	73.46%
Cost of Revenue	1,762	1,193	1,216	730.68	338.97
Gross Profit	1,265	884.59	661.38	471.99	381.8
Selling, General & Admin	480.82	509.95	468.94	305.84	305.98
Research & Development	796.94	855.64	790.55	555.18	368.44
Other Operating Expenses	-181.42	-276.09	-26.52	-10.82	-27.33
Total Operating Expenses	1,096	1,089	1,233	850.2	647.08
Operating Income	168.75	-204.91	-571.59	-378.22	-265.29
Interest Income	130.24	104.4	99.81	58.73	32.58
Interest Expense	-18.92	-12.83	-3.07	-	-
Other Non-Operating Income (Expense)	186.72	12.1	-0.42	18.7	-13.16
Total Non-Operating Income (Expense)	298.04	103.68	96.33	77.43	19.43
Pretax Income	466.79	-101.23	-475.27	-300.79	-245.86
Provision for Income Taxes	30.84	1.13	0.66	-0.07	-1.12
Net Income	435.88	-102.38	-475.97	-747.18	-2,456
Minority Interest in Earnings	0.07	0.01	0.05	0.05	0.08
Net Income Attributable to Preferred Dividends	-	-	-	446.42	2,211
Net Income to Common	435.88	-102.38	-475.97	-747.18	-2,456
Shares Outstanding (Basic)	139	129	125	116	105
Shares Outstanding (Diluted)	146	129	125	116	105
Shares Change (YoY)	13.35%	3.53%	8.00%	10.05%	16.79%
EPS (Basic)	3.13	-0.79	-3.81	-6.47	-23.39
EPS (Diluted)	2.98	-0.79	-3.81	-6.47	-23.39
Shares Outstanding	156.15	131.16	127.03	60.98	60.98
Free Cash Flow	-192.38	-196.04	-349.49	-927.23	-448.48
Free Cash Flow Per Share	-1.31	-1.52	-2.80	-8.03	-4.27
Gross Margin	41.79%	42.59%	35.24%	39.24%	52.97%
Operating Margin	5.57%	-9.86%	-30.45%	-31.45%	-36.81%
Profit Margin	14.40%	-4.93%	-25.36%	-25.01%	-33.97%
FCF Margin	-6.35%	-9.44%	-18.62%	-77.10%	-62.22%
EBITDA	292.54	-73.1	-485.32	-324.58	-237.05
EBITDA Margin	9.66%	-3.52%	-25.86%	-26.99%	-32.89%
EBIT	168.75	-204.91	-571.59	-378.22	-265.29
EBIT Margin	5.57%	-9.86%	-30.45%	-31.45%	-36.81%
Effective Tax Rate	6.61%	-1.12%	-0.14%	0.02%	0.45%

Updated Mar 25, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q