In December, Hesai Technology's Lidar delivery volume exceeded 0.1 million units, becoming the first Lidar company in the world to achieve over 0.1 million units delivered in a single month.

It is noteworthy that Hesai delivered over 0.02 million Lidar units in a single month to the robotics market, widely covering various fields such as mobile robots, delivery robots, cleaning robots, and mowing robots. In 2025, Hesai plans to exceed an annual production capacity of 2 million units.

Citi Bank has raised its cumulative shipping forecast for Hesai in 2025 from 1.17 million units to 1.51 million units, based on the positive role played by companies such as BYD, Xiaomi Automobile, Chongqing Changan Automobile, and LEAPMOTOR in driving the growth of Hesai's Lidar sales. At the same time, the 2026 estimate was also raised from 2.11 million units to 3.56 million units.

China Great Wall states that as domestic and foreign manufacturers continuously enhance their awareness of the importance of Lidar in intelligent driving, Lidar may usher in large-scale application implementation.

Pu Yin International released a Research Report stating that Chinese Lidar manufacturers are emerging late but leading, with the vehicle-mounted application market being dominated by two major players.

On the one hand, Chinese manufacturers realized early vehicle-mounted applications in 2022, and by 2023, their revenue and shipment volume shares showed overwhelming advantages; moreover, overseas suppliers suffered from slow mass production, leading to further loss of fixed projects, with Hesai and Rapid gaining nearly 80% of the global fixed partnerships, laying a solid foundation for the shipment volume in the next 2-3 years. On the other hand, the potential market scale of the industry provides ample expansion space for both leading players, as the two top Lidar manufacturers are currently in a good competitive position in the industry.

Lidar manufacturing companies listed in Hong Kong:

RoboSense (02498): RoboSense was established in 2014, headquartered in Shenzhen, and is a leading Lidar technology company in China. Its products include Lidar hardware, HyperVision integrated perception software, and integrated solutions. In the first three quarters, its revenue reached 1.135 billion yuan, an increase of 91.51% year-on-year, exceeding the total revenue for the entire year of 2023. The cumulative sales of Lidar reached 381,900 units in the first three quarters, a year-on-year increase of 259.6%; by the end of the third quarter, the group's historical cumulative Lidar sales exceeded 720,000 units, setting a new industry delivery record. The company's high-end smart driving and Siasun Robot&Automation business are growing rapidly. The Level 4 autonomous driving business has secured SOP cooperation with several industry-leading L4+ autonomous driving companies. In terms of robots, the company has utilized the E Lidar platform to collaborate with several important industrial, commercial, and consumer-grade customers to jointly develop new products in different verticals, with deliveries expected within the next 18 months.