Q2 total revenue is expected at RMB 850–900 mn.

2026 will remain a 'price-for-volume' year for Hesai Group amid high-stakes competition.

Overall GPM is expected to remain resilient in 2026. Resilience should hold through the year.

FY26 shipment guidance raised sharply to 3.0-3.5 mn units

Why do stock prices and performance show opposite trends?

The collaboration with BYD currently covers more than ten models, and more new models will gradually achieve mass production from 2025 to 2026.

ATX continues to increase volume in shipments!

In the first half of the article "'4 Times' Hesai: Why Has the Lidar Abandoned by Tesla Become 'Promising' Again?", Dolphin Research conducted a detailed review of the reasons behind Hesai's market value explosion. In the high-growth track of lidar, Hesai continues to reduce costs through the technological path of chip integration and increased integration, which leads to a continuous decline in the cost of lidar, thereby bringing about an increase in penetration rate and continuous expansion of application scenarios. The market value of $Hesai(HSAI.US) began to rise significantly after the third quarter report of 2024, as its earnings consistently exceeded market expectations...

Overall, $Hesai(HSAI.US) released its Q2 2025 financial report after the U.S. stock market closed on August 14, Beijing time. Once again, Hesai has delivered a very impressive financial report. Specifically: 1) Revenue continues to maintain a high year-on-year growth trend, with LiDAR still ramping up: In the second quarter, Hesai's revenue reached 710 million, with a year-on-year growth rate continuing to rise to 54%. LiDAR is still ramping up, driving the high year-on-year growth trend in revenue. 2) The price of LiDAR is still declining due to the continuous ramp-up of low-cost ATX...

Is the turning point for intelligent driving approaching, and can it continue to soar?