InsiderClue
Stocks · Industrials · General Industrial Machinery & Equipment, NEC

Hesai Group

HSAI Clue Score67
Cayman Islands Fiscal year ends December CIK 0001861737
$16.01 +2.56% Close, 9 Oct 2026
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Price $16.01 +63.37% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 9 Feb 2023. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2020Revenue0.42Operating income−0.10Net income−0.11EPS, diluted−1.19Fiscal year 2021Revenue0.72 +73.5%Operating income−0.27Net income−0.24EPS, diluted−23.39Fiscal year 2022Revenue1.20 +66.9%Operating income−0.38Net income−0.30EPS, diluted−6.47Fiscal year 2023Revenue1.88 +56.1%Operating income−0.57Net income−0.48EPS, diluted−3.81Fiscal year 2024Revenue2.08 +10.7%Operating income−0.20Net income−0.10EPS, diluted−0.79Fiscal year 2025Revenue3.03 +45.8%Operating income0.17Net income0.44EPS, diluted2.98
FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 0.42 0.72 1.20 1.88 2.08 3.03
Growth +73.5% +66.9% +56.1% +10.7% +45.8%
Operating income −0.10 −0.27 −0.38 −0.57 −0.20 0.17
Net income −0.11 −0.24 −0.30 −0.48 −0.10 0.44
Growth
EPS, diluted −1.19 −23.39 −6.47 −3.81 −0.79 2.98
Growth

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2020Gross margin57.5%Operating margin−24.5%Net margin−25.8%Free cash flow margin−100.6%Fiscal year 2021Gross margin53.0%Operating margin−36.8%Net margin−34.0%Free cash flow margin−62.2%Fiscal year 2022Gross margin39.2%Operating margin−31.4%Net margin−25.0%Free cash flow margin−77.1%Fiscal year 2023Gross margin35.2%Operating margin−30.5%Net margin−25.4%Free cash flow margin−18.6%Fiscal year 2024Gross margin42.6%Operating margin−9.9%Net margin−4.9%Free cash flow margin−9.4%Fiscal year 2025Gross margin41.8%Operating margin5.6%Net margin14.4%Free cash flow margin−6.4%
FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 57.5% 53.0% 39.2% 35.2% 42.6% 41.8%
Operating margin −24.5% −36.8% −31.4% −30.5% −9.9% 5.6%
Net margin −25.8% −34.0% −25.0% −25.4% −4.9% 14.4%
Free cash flow margin −100.6% −62.2% −77.1% −18.6% −9.4% −6.4%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2020Operating cash flow−0.35Capital expenditure−0.07Free cash flow−0.42Fiscal year 2021Operating cash flow−0.23Capital expenditure−0.22Free cash flow−0.45Fiscal year 2022Operating cash flow−0.70Capital expenditure−0.23Free cash flow−0.93Fiscal year 2023Operating cash flow0.06Capital expenditure−0.41Free cash flow−0.35Fiscal year 2024Operating cash flow0.06Capital expenditure−0.26Free cash flow−0.20Fiscal year 2025Operating cash flow0.12Capital expenditure−0.31Free cash flow−0.19
FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −0.35 −0.23 −0.70 0.06 0.06 0.12
Capital expenditure −0.07 −0.22 −0.23 −0.41 −0.26 −0.31
Free cash flow −0.42 −0.45 −0.93 −0.35 −0.20 −0.19
Growth

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2020Cash0.26Shareholders’ equity1.14Fiscal year 2021Cash0.45Shareholders’ equity−2.49Fiscal year 2022Cash0.91Total debt0.02Net cash (debt)0.89Shareholders’ equity−3.15Fiscal year 2023Cash1.55Total debt0.29Net cash (debt)1.27Shareholders’ equity3.86Debt to equity0.07Fiscal year 2024Cash2.84Total debt0.39Net cash (debt)2.45Shareholders’ equity3.93Debt to equity0.10Fiscal year 2025Cash1.66Total debt0.40Net cash (debt)1.27Shareholders’ equity8.96Debt to equity0.04
FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.26 0.45 0.91 1.55 2.84 1.66
Total debt n/a n/a 0.02 0.29 0.39 0.40
Net cash (debt) n/a n/a 0.89 1.27 2.45 1.27
Shareholders’ equity 1.14 −2.49 −3.15 3.86 3.93 8.96
Debt to equity n/a n/a n/a 0.07 0.10 0.04

In billions of CNY, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
57.5% 53.0% 39.2% 35.2% 42.6% 41.8%
−24.5% −36.8% −31.4% −30.5% −9.9% 5.6%
−25.9% −34.1% −25.0% −25.3% −4.9% 15.4%
−25.8% −34.0% −25.0% −25.4% −4.9% 14.4%
−100.6% −62.2% −77.1% −18.6% −9.4% −6.4%
Spending
55.3% 51.1% 46.2% 42.1% 41.2% 26.3%
18.4% 32.8% 16.7% 17.1% 15.3% 9.5%
15.9% 30.5% 19.2% 21.7% 12.5% 10.2%
n/a n/a n/a n/a n/a 6.6%
Returns
−9.4% n/a n/a −12.3% −2.6% 4.9%
n/a −6.2% −7.8% −8.4% −1.7% 3.9%
Balance and payout
n/a n/a n/a 0.07 0.10 0.04
n/a 22.8% 26.0% 31.8% 34.4% 20.4%

Shown in CNY as filed; the screener converts to dollars.