China's Hesai Group Q4 revenue rises on strong ADAS and robotics lidar demand

Hesai

24/03/2026 08:39

Overview

China lidar solutions provider's Q4 revenue rose 39% yr/yr, driven by strong ADAS and robotics lidar demand

Q4 net income increased 4% yr/yr, marking third consecutive profitable quarter

Company reported ADAS lidar shipments up 185% and robotics lidar shipments up 179% yr/yr

Outlook

Hesai expects Q1 2026 net revenues between RMB650 mln and RMB700 mln

Company raises 2026 lidar shipment outlook to 3 mln units to 3.5 mln units

Hesai plans to launch new flagship products in 2026 targeting large addressable markets

Result Drivers

PRODUCT DEMAND - Increased sales of ADAS and robotics lidar products drove revenue growth, per company

COST AND SCALE OPTIMIZATION - Higher gross margin attributed to cost and scale optimization on lidar products, per company

AI-ENABLED EFFICIENCY - Lower R&D expenses driven by payroll savings from broader adoption of AI tools, per company

Company press release: ID:nGNX9BYmlW

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
RMB 1 bln
Q4 Net Income
RMB 153.20 mln
Q4 Gross Margin
41.00%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the electronic equipment & parts peer group is "buy"

Wall Street's median 12-month price target for Hesai Group is HK$251.50, about 45.7% above its March 23 closing price of HK$172.60

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)