The following is a summary of the Hesai Group (HSAI) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Hesai Group achieved quarterly revenue of RMB 458.9 million, approximately USD 63.1 million.

• Quarterly net loss narrowed by 33% QoQ to RMB 72.1 million, about USD 9.9 million.

• Gross margin improved significantly to approximately 45%, attributed to effective cost management, economies of scale, and a high-margin service fee.

• The full-year revenue forecast was revised to a range of RMB 2.0 billion to RMB 2.3 billion.

Business Progress:

• Hesai has secured design wins with 19 OEMs globally for over 70 vehicle models.

• Exclusive long-range LiDAR supplier for 13 OEMs, reflecting strong market confidence.

• Achieved significant design wins, including an exclusive agreement with a leading EV maker to adopt Hesai's next-generation L3 ultra high-performance LiDAR for all new models releasing in 2025.

• Anticipated significant adoption and scale of new ATX ADAS LiDAR, starting SOP in Q1 2025 with several major OEMs.

Opportunities:

• The thriving robotaxi market and the high penetration of ADAS technology in vehicles provide substantial growth opportunities, strengthened by strategic partnerships and significant design wins.

Risks:

• The technology shift away from LiDAR by some manufacturers poses a potential challenge, emphasizing the need for competitive performance and pricing strategies to maintain market share.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.