According to the Zhitong Finance App, Hesai-W (02525) announced that in the third quarter of 2026, net revenue was 1,068 billion yuan (RMB, same below), an increase of 34.3% over the previous year; net profit of 80.8 million yuan; and basic income of 0.06 yuan per common share.
Dr. Li Yifan, co-founder and CEO of Hesai Technology, said, “In the third quarter of 2026, Hesai took another step towards the goal of a full-stack infrastructure platform for robotics and physical AI. Our lidar business continues to be profitable on a large scale and brings stable cash flow. The growth momentum mainly comes from three aspects: first, the high-end ET series lidar has been designated by five leading global car companies, including one of Europe's top car companies and Cadillac; second, the penetration rate of multi-lidar solutions in China and overseas markets continues to increase; third, it has obtained new Wuling and Chery projects to further expand lidar to high-volume Volkswagen models and export markets. Meanwhile, in the field of robotics, according to Yole Group, Hesai ranked first in the world with a 62% share of the Robotaxi lidar market in 2025. We are also cooperating with JD, the largest retailer by revenue in China, to help it build the world's largest mobile robot team with advanced sensing capabilities such as 6D full-color lidar.”
Dr Lee added, “Our Strategic Growth Business (SGI) is rapidly growing into Hesai's next growth engine, opening up new opportunities in robotics and physical AI at both the data and hardware infrastructure levels. In October of this year, we launched Kosmo, a 3D world data engine to the world, which can transform real environments into high-fidelity, editable 3D assets that can be directly used by AI. Just a few months after the first batch of prototypes were shipped, this technology, which pioneered a new category, began generating revenue and cooperated with the world's top companies and organizations, including Pixar RenderMan, to implement real scenarios. The scope of applications covered fields such as robot training, film and television entertainment, cultural tourism, cultural tourism, cultural tourism, cultural tourism, cultural tourism, cultural tourism, cultural tourism, cultural tourism, cultural tourism, cultural tourism, cultural tourism, and space navigation. On the other hand, the power module business as a robot motion engine also ushered in rapid growth in shipments; following the dexterous hand module, full-body joint modules have also entered mass production, and shipments increased 97% month-on-month to 23,400 units in the third quarter. Our journey in the field of physical AI has just begun.”
Mr. Fan Peng, Chief Financial Officer of Hesai Technology, said, “In the third quarter of 2026, our growth strategy progressed steadily: the core lidar business continued to expand while maintaining profits, and the pace of commercialization of SGI continued to accelerate. Despite pressure on the overall automobile market, net revenue for the third quarter increased by about 34% year on year to RMB 1,068 million. Quarterly lidar and robot power module shipments reached 729,700 units and 23,400 units, respectively. SGI's growth rate has exceeded expectations, and revenue for the first three quarters has already exceeded the original annual target of RMB 100 million. Robot power modules usually account for more than 50% of the material cost for humanoid robots. Currently, they are being rapidly released, with cumulative shipments reaching 353,000 sets by the end of the third quarter. Based on these developments, and Kosmo's new revenue streams, we reaffirm SGI's revenue guidance for 2026 to RMB 200 million to RMB 300 million. As customer verification continues to deepen, we are increasing our investment in SGI while maintaining financial discipline. Net profit for the quarter reached RMB 81 million and achieved GAAP profit for the sixth consecutive quarter. Among them, the operating profit of the core lidar business reached RMB 145 million in the third quarter, a sharp increase of 88% over the previous year. Our goal is clear: to be the leading infrastructure platform for the robotic and physical AI era.”