Hesai Group American Depositary Share, each ADS represents one Class B ordinary share - HSAI STOCK NEWS

Hesai Group (NASDAQ: HSAI) is set to release its first quarter 2023 unaudited financial results on May 23, 2023, after U.S. market close. An earnings call will be held at 9:00 PM ET on the same day. Participants can join via phone after pre-registration, with a live and archived webcast available on the company's investor relations website.

Hesai is a global leader in three-dimensional light detection and ranging (LiDAR) solutions, catering to applications in passenger and commercial vehicles, robotics, and more, boasting established partnerships with major automotive and technology firms across 90 cities in 40 countries as of December 31, 2022. This strong network underscores their robust market presence.

Hesai Technology has entered a strategic partnership with KargoBot, focusing on advancing the use of automotive-grade hybrid solid-state lidar, specifically the AT128 model, for L4 autonomous trucks. This cooperation aims to enhance commercial logistics applications by implementing safer and more intelligent solutions. The AT128 lidar is known for its high precision, capable of delivering up to 1.53 million points per second, and was involved in the production of over 60,000 units delivered to OEM customers in 2022. KargoBot, which has developed a hybrid-autonomous solution with over 100 autonomous trucks, reported a revenue exceeding 100 million yuan as of March 2023. The integration of Hesai's lidar technology into KargoBot's operations is expected to significantly enhance performance in various driving conditions.

Hesai Group (NASDAQ: HSAI), a leader in three-dimensional light detection and ranging (LiDAR) solutions, filed its annual report on Form 20-F for the fiscal year ending December 31, 2022, with the SEC on April 20, 2023. This report includes the Company's audited consolidated financial statements, accessible via the SEC website and Hesai's investor relations page. Shareholders can request a free hard copy of the report. Hesai's LiDAR technology serves various applications, including advanced driver assistance systems and autonomous vehicles, with validated products supported by strong R&D capabilities. As of December 31, 2022, the company has established partnerships with automotive OEMs and robotics companies across 90 cities in 40 countries.

Hesai Group (NASDAQ: HSAI), a leader in 3D LiDAR technology, has announced its intention to vigorously defend against patent infringement lawsuits filed by Ouster, Inc. in the U.S. International Trade Commission and District Court of Delaware. Hesai, which has over 300 patents and more than 700 pending applications, stated that Ouster's allegations are flawed and lack merit. The company has delivered over 130,000 LiDAR units since its inception, with 80,000 units delivered in 2022 alone—surpassing the total deliveries of eight other U.S. listed LiDAR firms combined. Hesai emphasizes its commitment to protecting intellectual property and its extensive investment in R&D, which involves over 700 staff members. The firm has established strong relationships with major automotive and robotics companies across 90 cities in 40 countries.

Hesai Technology (NASDAQ:HSAI) has launched the ET25, an ultra-thin long-range lidar system designed specifically for in-cabin use. Measuring only 25 mm in height, the ET25 enables automakers to implement advanced driver assistance systems (ADAS) with improved aesthetics and performance. With a detection range of 250 meters, it features a 120° x 25° field of view and operates with low power consumption of just 12 W, ensuring optimal thermal performance even in hot conditions.

The ET25's innovative design allows for easy cleaning via windshield wipers, maintaining visibility in various weather conditions. Hesai also announced a strategic partnership with Fuyao Group, enhancing integration capabilities with specially designed windshields that improve lidar performance. With a strong market presence, Hesai aims to lead the global lidar industry by continuing to deliver high-performance solutions for smart cars.

Ouster (NYSE: OUST) has filed a patent infringement complaint against Hesai Group (Nasdaq: HSAI) with the U.S. International Trade Commission and in Delaware courts, seeking to block imports of Hesai's lidar sensors that allegedly infringe on five Ouster patents. Ouster, a leader in high-performance lidar technology, claims that Hesai has unlawfully incorporated its patented technologies into competing products. This action follows a prior infringement case in 2019 where Hesai paid Velodyne Lidar millions in settlement. Ouster's patents reflect significant investments in digital lidar technology, positioning the company as a key player in the market, and Ouster intends to vigorously protect its intellectual property to maintain competitive advantage.

Hesai Technology (NASDAQ: HSAI) achieved TISAX (Trusted Information Security Assessment Exchange) Assessment Level 3, marking its compliance with the highest standards in the European automotive industry. This certification, verified by TÜV SÜD, confirms Hesai's capacity to deliver secure services to OEM customers, addressing critical areas such as information security and prototype protection across its operational sites. Additionally, in December 2022, the company surpassed a significant milestone by delivering over 10,000 lidar units monthly, solidifying its position as a leader in the automotive lidar market. Hesai emphasizes its commitment to enhancing information security in the lidar industry.

Hesai Group (NASDAQ: HSAI) reported robust financial results for Q4 2022, with net revenues of RMB409.2 million (US$59.3 million), a 56.6% year-over-year increase. LiDAR shipments surged to 47,515 units, marking a 739.2% year-over-year rise. Full-year 2022 revenues reached RMB1,202.7 million (US$174.4 million), up 66.9% from 2021, with a gross margin of 39.2%. However, net losses increased to RMB135.3 million (US$19.6 million) in Q4 and RMB300.8 million (US$43.6 million) for the year, reflecting rising operational costs. Looking ahead, Hesai expects Q1 2023 revenues between RMB390 million (US$56.5 million) and RMB410 million (US$59.4 million), representing a projected annual increase of 57% to 65%.

Hesai Group (NASDAQ: HSAI) will disclose its fourth quarter and full year 2022 unaudited financial results on March 15, 2023, following U.S. market closure. An earnings call will take place at 9:00 PM ET the same day, with registration details provided for participants. Hesai is a leading provider of LiDAR solutions globally, enabling advancements in both commercial and passenger vehicles, and robotics applications. As of December 31, 2022, the company has shipped over 100,000 LiDAR units and maintains strong relationships with numerous automotive OEMs and robotics firms across 90 cities in 40 countries.