Welcome to our dedicated page for Hesai Group American Depositary Share, each ADS represents one Class B ordinary share news (Ticker: HSAI), a resource for investors and traders seeking the latest updates and insights on Hesai Group American Depositary Share, each ADS represents one Class B ordinary share stock.
Hesai Group (NASDAQ: HSAI) is a global leader specializing in the development, manufacturing, and sales of three-dimensional light detection and ranging (LiDAR) solutions. The company’s advanced LiDAR products are pivotal in enabling a variety of applications in passenger and commercial vehicles equipped with Advanced Driver Assistance Systems (ADAS), autonomous vehicle fleets, and robotics applications such as last-mile delivery robots, street sweeping robots, and logistics robots in restricted areas.
Hesai operates primarily through two segments: the LiDAR segment and the gas detection segment, with the former generating the majority of the company's revenue. The company’s geographical presence spans North America, Mainland China, Europe, and other regions, enabling it to cater to a diverse and expansive market.
Recent developments highlight Hesai's commitment to innovation and strategic partnerships. On March 18, 2024, Hesai announced its strategic partnership with Leapmotor to enhance intelligent driving experiences by incorporating Hesai's next-generation high-performance automotive LiDAR products. This collaboration is expected to bolster safety technology and expand market reach significantly.
On April 2, 2024, Xiaomi launched its first mass-produced electric vehicle, the Xiaomi SU7, integrating Hesai’s AT128 long-range LiDAR. This underscores Hesai's growing influence in intelligent driving solutions and its capability to support high-performance automotive applications.
Further expanding its product offerings, Hesai introduced the ATX, a new ultra-wide field of view, long-range LiDAR, on April 22, 2024. This product promises improved 3D perception for intelligent vehicles, with enhanced detection range, higher resolution, and a compact design that fits various vehicle positions.
Hesai’s collaboration with Marelli, announced on April 24, 2024, aims to integrate the ATX LiDAR into Marelli’s headlamp design, offering advanced object detection and safety without compromising vehicle aesthetics or aerodynamics. This partnership exemplifies Hesai’s innovative approach and its commitment to enhancing vehicle safety through cutting-edge technology.
Despite the recent resignation of CFO Louis T. Hsieh on May 13, 2024, the company continues to demonstrate strong leadership and robust financial management under the interim oversight of Norman Fan.
Hesai remains dedicated to advancing intelligent driving technology and expanding its global footprint. With a focus on high performance, quality, and affordability, the company is well-positioned to lead the LiDAR industry and contribute to safer, more efficient automotive and robotics solutions.
Hesai Group (NASDAQ: HSAI), a global leader in 3D lidar solutions, has released its first Environmental, Social and Governance (ESG) Report for 2023. The report highlights Hesai's ESG strategy, achievements, and progress towards sustainable development goals.
CEO Yifan 'David' Li emphasized the company's commitment to its mission of 'Empower Robotics, Elevate Lives' through advanced lidar solutions. Hesai aims to drive the future of robotics for a safer, more efficient world. The report covers Hesai's efforts in innovation, product quality, talent development, safety management, and sustainability.
Hesai plans to further integrate ESG principles into its business operations and development decisions, enhancing its sustainable development capabilities. The full 2023 ESG Report is available on Hesai's Investor Relations website.
Hesai Group (NASDAQ: HSAI), the global leader in 3D lidar solutions, has announced its second quarter 2024 earnings report will be released on August 19, 2024, after U.S. markets close. The company will host an earnings conference call at 9:00 PM ET on the same day. Hesai, known for its advanced lidar technology used in ADAS, autonomous vehicles, and robotics, serves over 40 countries. The company integrates lidar design with in-house manufacturing, enabling rapid development of high-performance, quality, and affordable products. Investors can access the call via pre-registration and join the live webcast on Hesai's investor relations website.
Hesai Technology (Nasdaq: HSAI), a global leader in lidar solutions, has announced three significant automotive lidar design wins with top global automakers' joint ventures in China. These include General Motors (GM), Ford, and a prominent European automotive brand. The OEM joint ventures plan to integrate Hesai's automotive-grade, long-range lidar into their next-generation series production vehicles, with mass production expected to begin as early as 2025.
Hesai has secured ADAS design wins with 18 OEMs and Tier 1 suppliers globally, covering approximately 70 vehicle models as of Q1 2024. The company also holds mass production agreements with six of the top ten Fortune 500 automakers directly or through entities in their group, maintaining the highest global market share in the automotive lidar industry.
Hesai Technology (Nasdaq: HSAI), a global leader in lidar solutions, has announced automotive lidar design wins with three leading global OEM's joint ventures (JV) in China, including two U.S. automotive companies and one European automotive brand. These JVs plan to integrate Hesai's automotive-grade, long-range lidar in their next-generation series production vehicles for the China market, with mass production expected to begin as early as 2025.
Hesai has secured ADAS design wins with 18 OEMs and Tier 1 suppliers globally, covering approximately 70 vehicle models as of Q1 2024. The company also holds mass production agreements with six of the top ten Fortune 500 automakers directly or through entities in their group, maintaining the highest global market share in the automotive lidar industry.
Hesai Technology (Nasdaq: HSAI), a global leader in lidar solutions, has announced a strategic partnership with Westwell, a provider of autonomous driving solutions. This collaboration aims to accelerate global expansion in autonomous driving for logistics. Westwell's autonomous driving solutions will be equipped with Hesai's advanced lidar products, serving over 200 corporate clients across 20 countries.
Hesai's lidars are already integrated into several of Westwell's solutions, including their new energy-efficient autonomous driving Q-Trucks and Q-Tractors. These vehicles are deployed in various locations, including Felixstowe Port in the UK and Hong Kong Air Cargo Terminals Westwell's R&D team uses a multi-sensor approach, equipping multiple Hesai XT32 and AT128 lidars for each vehicle, ensuring precise operations across various scenarios.
Hesai Technology (Nasdaq: HSAI), a global leader in lidar safety technology, has been chosen by Baidu (NASDAQ: BIDU) as the exclusive long-range lidar supplier for its next-generation robotaxi platform Yichi 06. This deal, estimated at $200-300 million, is based on Baidu's plans to deploy 100,000 robotaxi vehicles in China. The Chinese robotaxi market is projected to reach $162.6 billion in 2025 and $403.6 billion in 2030.
Hesai dominated the global robotaxi lidar market in 2023 with a 74% share of the $124 million market. The company's total lidar shipment volume has exceeded 380,000 units as of Q1 2024. Hesai's success is attributed to its high-performance lidar technology, which is used by nine of the top ten L4 autonomous driving companies globally.
Hesai Technology (Nasdaq: HSAI) has been named the top global automotive lidar company for the third consecutive year by Yole Group's 2024 report. The report highlights Hesai's 37% market share in the lidar industry, driven by strong demand in passenger cars and robotaxis.
In 2023, the global lidar market for passenger cars and robotaxis was valued at $538 million, growing 79% year-over-year. Hesai led the market with the highest volume of lidar installations, particularly in Chinese OEMs like Li Auto and Lotus. Hesai's ADAS lidar shipments exceeded 300,000 units, securing design wins with 18 OEMs and Tier 1 suppliers. The company also dominates the robotaxi lidar market with a 74% share of the $124 million market.
Hesai is the only lidar company to achieve positive cash flow in 2023, reinforcing its competitive edge. CEO David Li emphasized the company's commitment to road safety and technological advancement. Yole Group expects Hesai to maintain its leadership with new OEM partnerships and design wins in 2024.
Hesai Technology (Nasdaq: HSAI) has been named the top automotive lidar company by market share for the third consecutive year by Yole Group. The company recorded strong revenue and shipments, strategic design wins, an expanded product roster, and new partnerships. Yole Group's "Lidar for Automotive 2024" report highlights the rapid growth of the lidar industry and Hesai's consistent leadership.
Hesai holds 37% of the global automotive lidar market, leading in both passenger cars and robotaxis. The company achieved a 26% market share in passenger cars and shipped over 300,000 units of ADAS lidar to OEM customers. Hesai also secured design wins with 18 OEMs and Tier 1 suppliers across 70 vehicle models. In the robotaxi market, Hesai commands a 74% share of the $124M market.
Hesai's strong R&D and production capabilities, coupled with positive cash flow, position it for continued market leadership in 2024.
Hesai Group (NASDAQ: HSAI) reported Q1 2024 net revenues of RMB359.1 million (US$49.7 million), representing a 16.5% decline from Q1 2023. Lidar shipments totaled 59,101 units, a 69.7% increase year-over-year, with ADAS lidar shipments up 86.1%. Despite increased shipments, the company posted a net loss of RMB106.9 million, a slight improvement from RMB118.9 million the previous year. Gross margin improved to 38.8% from 37.8%. Business highlights include new partnerships with leading global OEMs and the launch of the ATX, an advanced ADAS lidar.
Hesai Group (NASDAQ: HSAI), a leader in lidar solutions, announced the resignation of Louis T. Hsieh from his roles as Global CFO and Board Director for personal and family reasons, effective immediately. Since joining in 2021, Hsieh contributed significantly to the company's business, financial management, capital markets transactions, and corporate governance. Norman Fan, who joined Hesai in 2021 and has a 16-year tenure at Deloitte Touche Tohmatsu CPA LLP, will temporarily oversee Hesai's financial and reporting functions.
FAQ
What is the current stock price of Hesai Group American Depositary Share, each ADS represents one Class B ordinary share (HSAI)?
What is the market cap of Hesai Group American Depositary Share, each ADS represents one Class B ordinary share (HSAI)?
What does Hesai Group specialize in?
What are the main segments of Hesai Group's operations?
Where does Hesai Group operate geographically?
Can you provide examples of recent partnerships involving Hesai Group?
What is the significance of Hesai's ATX LiDAR?
How does Hesai Group contribute to vehicle safety?
What recent changes have occurred in Hesai Group's leadership?
How does Hesai Group support its innovation and product development?
What is the impact of Hesai's partnership with Marelli?
What future developments can we expect from Hesai Group?
