Quarterly net revenues were RMB445.6 million (US$61.1 million),¹ an increase of 33.5% year-over-year
Quarterly lidar shipments were 47,440² units, an increase of 125.5% year-over-year

SHANGHAI, China, Nov. 13, 2023 (GLOBE NEWSWIRE) -- Hesai Group (“Hesai” or the “Company”), (NASDAQ: HSAI), the global leader in three-dimensional light detection and ranging (lidar) solutions, today announced its unaudited financial results for the three months ended September 30, 2023.

Operational Highlights

	Three months ended September 30, 2023		Nine months ended September 30, 2023
ADAS lidar shipments	40,593		114,482
Autonomous Mobility lidar shipments	6,847		19,898
Total lidar shipments	47,440		134,380

• Q3 2023 ADAS lidar shipments were 40,593 units, compared to 16,694 units in the corresponding period of 2022.
• Q3 2023 Total lidar shipments were 47,440 units, representing an increase of 125.5% from 21,042 units in the corresponding period of 2022.
• ADAS lidar shipments in the first nine months of 2023 were 114,482 units, representing an increase of 516.6% from 18,567 units in the corresponding period of 2022.
• Total lidar shipments in the first nine months of 2023 were 134,380 units, representing an increase of 307.9% from 32,947 units in the corresponding period of 2022.

Management Remarks

“We are excited to report that in the third quarter, our performance across topline, deliveries, and gross margin surpassed our expectations. Even more encouragingly, we achieved...

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