Hesai(US:HSAI) IPO早知道·2025-09-30 04:07Core Viewpoint - Hesai Technology (NASDAQ: HSAI; HKEX: 2525) will deepen its partnership with Xiaomi Auto as a core strategic supplier from 2026 to 2027, continuing to provide support and services [2] Group 1: Partnership and Business Growth - Xiaomi is not only a significant business partner for Hesai but also an important shareholder, having led a $374 million Series D funding round in 2021, which bolstered Hesai's R&D and market expansion [2] - Since Xiaomi Auto's market entry, Hesai has been its exclusive partner for LiDAR technology, contributing to the successful launches of models like SU7 and YU7, enhancing the commercialization of smart driving technology [2] - Hesai has established itself as a leading player in the global LiDAR industry, with products widely used in advanced driver-assistance systems (ADAS) for passenger and commercial vehicles, autonomous vehicles, and various intelligent robotic applications [2] Group 2: Market Penetration and Client Base - In the ADAS sector, Hesai's LiDAR has become a standard for safety, securing mass production contracts for over 120 models from 24 major manufacturers, with deliveries planned from 2025 to 2027 [3] - Key clients include top-tier automotive manufacturers such as a leading European OEM, a global electric vehicle sales champion, and several prominent Chinese brands [3] Group 3: Robotics Sector Expansion - The robotics sector is experiencing explosive growth, with Hesai positioning itself in this emerging market [4] - In the lawnmower robot segment, Hesai's JT series achieved over 100,000 units delivered within five months, setting a global record [4] - Collaborations in various robotic applications include partnerships with companies like Yushu Technology for robotic dogs and multiple firms in mobile/commercial robotics [4] Group 4: Financial Performance - In 2024, Hesai achieved revenue of 2.08 billion yuan, with a compound annual growth rate of 42.3% from 2021 to 2024 [5] - The company has seen its annual delivery volume double for four consecutive years, becoming the first and only publicly listed LiDAR company to achieve profitability and positive cash flow for the entire year [5] - The co-founder and chief scientist of Hesai emphasized the role of AI in the upcoming fourth industrial revolution, indicating the company's commitment to providing new core technologies and products for this era [5]