Hesai Group (HSAI) — Financial statements
Income statement, balance sheet, and cash flow for Hesai Group — annual and quarterly history with growth and margin analysis.
| Metric (CNY Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 2,945↑41.8% | 2,077↑10.7% | 1,877↑56.1% | 1,203↑66.9% | 721 | |
| Cost of Revenue | 1,714↑43.8% | 1,193↓1.9% | 1,216↑66.4% | 731↑115.6% | 339 | |
| Gross Profit | 1,231↑39.1% | 885↑33.7% | 661↑40.1% | 472↑23.6% | 382 | |
| Operating Expenses | ||||||
| R&D Expenses | 775↓9.4% | 856↑8.2% | 791↑42.4% | 555↑50.7% | 368 | |
| General & Administrative Expenses | 0.00↓100.0% | 317↓1.0% | 320↑59.3% | 201↓15.1% | 237 | |
| Selling & Marketing Expenses | 0.00↓100.0% | 193↑29.7% | 149↑41.9% | 105↑51.4% | 69 | |
| SG&A Expenses | 468↓8.3% | 510↑8.7% | 469↑53.3% | 306↓0.0% | 306 | |
| Other Expenses | 0.00↑100.0% | -276↓941.1% | -27↓145.2% | -11↑60.4% | -27 | |
| Operating Expenses | 1,243↑14.1% | 1,089↓11.6% | 1,233↑45.0% | 850↑31.4% | 647 | |
| Total Costs & Expenses | 2,957↑29.6% | 2,282↓6.8% | 2,449↑54.9% | 1,581↑60.3% | 986 | |
| Operating Results | ||||||
| Operating Income | -12↑94.0% | -205↑64.2% | -572↓51.1% | -378↓42.6% | -265 | |
| Depreciation & Amortization | 0.00↓100.0% | 86↑0.0% | 86↑60.8% | 54↑90.0% | 28 | |
| EBITDA | -12↑89.6% | -119↑69.3% | -386↓56.2% | -247↓13.6% | -218 | |
| EBIT | -12↑94.0% | -205↑56.6% | -472↓57.0% | -301↓22.3% | -246 | |
| Interest & Other Income | ||||||
| Net Interest Income | 108↑18.2% | 92↓5.3% | 97↑64.7% | 59↑80.3% | 33 | |
| Interest Income | 127↑21.3% | 104↑4.6% | 100↑69.9% | 59↑80.3% | 33 | |
| Interest Expense | 18↑43.5% | 13↑318.0% | 3 | 0.00 | 0.00 | |
| Non-Operating Income | 0.00 | 0.00↑100.0% | -99↓28.4% | -77↓298.6% | -19 | |
| Other Income / Expenses | 466↑349.8% | 104↑7.7% | 96↑24.4% | 77↑300.1% | 19 | |
| Income Before Tax | 454↑548.4% | -101↑78.7% | -475↓58.0% | -301↓22.3% | -246 | |
| Income Tax Expense | 30↑2554.4% | 1↑71.7% | 0.66↑1097.0% | -0.07↑94.1% | -1 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 424↑514.2% | -102↑78.5% | -476↓58.3% | -301↓22.8% | -245 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | 424↑514.2% | -102↑78.5% | -476↓58.3% | -301↓22.8% | -245 | |
| Bottom-Line Net Income | 424↑514.2% | -102↑78.5% | -476↑36.3% | -747↑69.6% | -2,456 | |
| EPS (Basic) | 3.08↑489.9% | -0.79↑79.3% | -3.81↑36.0% | -5.95↑74.6% | -23.39 | |
| EPS (Diluted) | 2.87↑463.3% | -0.79↑79.3% | -3.81↑36.0% | -5.95↑74.6% | -23.39 | |
| Weighted Average Shares | 139↑7.7% | 129↑3.5% | 125↓0.6% | 126↑0.0% | 126 | |
| Weighted Average Diluted Shares | 146↑13.4% | 129↑3.5% | 125↓0.6% | 126↑0.0% | 126 | |
* All figures in Millions of CNY, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.