Hesai Group (HSAI) Financial Statements & Analysis

Hesai Group (HSAI) Income Statement

Hesai Group reported revenue of CNY 3.03B in fiscal 2025 (fiscal year ended Dec 31, 2025), up 45.8% from CNY 2.08B a year earlier. Net income was CNY 435.88M, a net margin of 14.4%. Gross margin was 41.8% and operating margin 4.1%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was CNY 860.83M, up 21.9% from the same quarter a year earlier.

Hesai Group Income Statement Analysis

Values in billions CNY

Income Statement Balance Sheet Cash Flow Ratios

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Hesai Group income statement - Annual data in billions CNY
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Revenue & Gross Profit
Revenue	3.03	2.08	1.88	1.20	0.72	0.42	0.35
Cost of Revenue	1.76	1.19	1.22	0.73	0.34	0.18	0.10
Gross Profit	1.27	0.88	0.66	0.47	0.38	0.24	0.24
Operating Expenses
Research & Development	0.80	0.86	0.79	0.56	0.37	0.23	0.15
Selling, General & Administrative	0.48	0.51	0.47	0.31	0.31	0.13	0.09
Operating Expenses	1.14	1.29	1.23	0.85	0.65	0.34	0.39
Operating Income	0.12	-0.41	-0.57	-0.38	-0.27	-0.10	-0.15
Other Income/Expense
Interest Income	0.13	0.10	0.10	0.06	0.03	0.02	0.02
Interest Expense	0.02	0.01	0.00	0.00	0.00	0.00	0.00
Other Income/Expense	0.23	0.22	0.10	0.08	-0.01	-0.01	0.03
Income
Income Before Tax	0.47	-0.10	-0.48	-0.30	-0.25	-0.11	-0.12
Income Tax Expense	0.03	0.00	0.00	0.00	0.00	0.00	0.00
Net Income	0.44	-0.10	-0.48	-0.30	-0.24	-0.11	-0.12
Net Income - Continuous Operations	0.44	-0.10	-0.48	-0.30	-0.24	-0.11	-0.12
Net Income - Discontinued Operations	-	-	-	-	-	-	-
EBITDA	0.61	0.04	-0.39	-0.25	-0.22	-0.08	0.02
EBIT	0.49	-0.09	-0.63	-0.38	-0.25	-0.10	-
Depreciation & Amortization	0.12	0.13	0.09	0.05	0.03	0.02	0.01
Earnings Per Share
Basic EPS	3.00	-1.00	-4.00	-6.00	-23.00	-1.00	-1.00
Diluted EPS	3.00	-1.00	-4.00	-6.00	-23.00	-1.00	-1.00
Basic Shares Outstanding	0.14	0.13	0.12	0.13	0.10	0.10	0.09
Diluted Shares Outstanding	0.15	0.13	0.12	0.13	0.10	0.10	0.09

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Hesai Group Financial Statements

What was Hesai Group's revenue in fiscal 2025?

Hesai Group reported revenue of CNY 3.03B in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 45.8% from CNY 2.08B a year earlier.

Is Hesai Group profitable?

Yes. Hesai Group earned net income of CNY 435.88M in fiscal 2025, a net margin of 14.4%. In fiscal 2024 it lost CNY 102.38M.

What is Hesai Group's operating margin?

Hesai Group's operating income was CNY 123.54M on revenue of CNY 3.03B in fiscal 2025, an operating margin of 4.1%, compared with -19.7% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition