Hesai(US:HSAI) Jin Rong Jie·2025-08-14 23:55Core Viewpoint - Hesai Technology (NASDAQ: HSAI) reported significant growth in Q2 2025, achieving revenue of 710 million RMB, a year-on-year increase of over 50%, and a net profit exceeding 44 million RMB, surpassing GAAP profitability targets [1][3][21]. Financial Performance - The company maintained industry leadership with Q2 revenue of 710 million RMB, reflecting a year-on-year growth of 53.9%, marking five consecutive quarters of revenue growth [2][21]. - Net profit for the quarter reached 44.1 million RMB (approximately 6.2 million USD), a significant turnaround from a net loss of 72.1 million RMB in the same period last year [3][21]. Delivery and Market Position - Total lidar deliveries in Q2 reached 352,095 units, a year-on-year increase of 306.9%, with ADAS product deliveries at 303,564 units, up 275.8% [5][21]. - For the first half of 2025, total lidar deliveries amounted to 547,913 units, a 276.2% increase compared to the previous year, surpassing the total deliveries for 2024 [5][23]. Product Development and Partnerships - The company secured new model contracts with Toyota's joint venture brand, with plans for mass production in 2026 [1][12]. - In the ADAS sector, Hesai's lidar has become a standard safety feature for multiple popular vehicle models, with recent contracts signed with nine leading automakers for 20 models set for delivery between 2025 and 2026 [15][21]. Robotics Sector Growth - In the robotics field, Hesai delivered 48,531 units in Q2, a remarkable year-on-year growth of 743.6%, and a total of 98,262 units in the first half of 2025, reflecting a 692.9% increase [8][21]. - The JT series lidar achieved over 100,000 units delivered within five months of launch, setting a global record [17][21]. Industry Leadership - According to third-party data, Hesai ranked first in both ADAS lidar installation volume and 3D lidar shipments in the robotics sector for the first half of 2025 [10][22]. - The company is recognized for its strong technical capabilities and market performance, solidifying its leading position in the lidar industry [10][22]. Global Expansion - Hesai made significant strides in the international ADAS market, entering the C-sample phase with a top European automaker, indicating steady progress towards mass production [12][22]. - The company is also advancing its global footprint with new contracts and collaborations, enhancing its competitive edge [12][22].