Hesai | 6-K: Report of foreign private issuer (related to financial reporting)

Hesai achieved record-breaking performance in Q4 2024 with net revenues of RMB719.8 million, up 28.3% YoY. Total lidar shipments surged 153.1% YoY to 222,054 units, including 193,238 ADAS units. The company reported Q4 non-GAAP net income of RMB170.4 million, compared to a loss in the same period last year.For full year 2024, Hesai delivered 501,889 lidar units, up 126% YoY, generating revenues of RMB2.08 billion. The company achieved a significant milestone as the world's first lidar company to report full-year non-GAAP net profits of RMB13.7 million, with positive operating cash flows of RMB63 million.Looking ahead, Hesai secured a groundbreaking exclusive design win with a top European OEM and expanded partnerships with major Chinese automakers including BYD, Chery, and Great Wall Motor. The company expects 2025 revenues of RMB3.0-3.5 billion, with projected GAAP profits of RMB200-350 million. Production capacity is planned to reach 2 million units annually by end-2025.

Hesai achieved record-breaking performance in Q4 2024 with net revenues of RMB719.8 million, up 28.3% YoY. Total lidar shipments surged 153.1% YoY to 222,054 units, including 193,238 ADAS units. The company reported Q4 non-GAAP net income of RMB170.4 million, compared to a loss in the same period last year.For full year 2024, Hesai delivered 501,889 lidar units, up 126% YoY, generating revenues of RMB2.08 billion. The company achieved a significant milestone as the world's first lidar company to report full-year non-GAAP net profits of RMB13.7 million, with positive operating cash flows of RMB63 million.Looking ahead, Hesai secured a groundbreaking exclusive design win with a top European OEM and expanded partnerships with major Chinese automakers including BYD, Chery, and Great Wall Motor. The company expects 2025 revenues of RMB3.0-3.5 billion, with projected GAAP profits of RMB200-350 million. Production capacity is planned to reach 2 million units annually by end-2025.