Hesai Group (HSAI) Financial Statements
Hesai Group financial statements at a glance
Hesai Group reported revenue of 3.03 billion CNY for fiscal year 2025 (ended December 31, 2025), up 45.8% from fiscal year 2024. Net income was 435.88 million CNY, a net margin of 14.4%, and diluted earnings per share were 2.98 CNY.
At the end of fiscal year 2025 it had total assets of 11.26 billion CNY, total liabilities of 2.30 billion CNY and shareholders' equity of 8.96 billion CNY, with cash and short-term investments of 4.76 billion CNY and total debt of 999.48 million CNY.
Its operations brought in 116.99 million CNY of cash; capital spending was 342.20 million CNY, leaving free cash flow of -225.21 million CNY.
The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.
Figures from company filings, in CNY; latest fiscal year ended December 31, 2025.
Hesai Group
Income Statement
Annual • CNY
Hesai Group key figures by fiscal year
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | 3.0B CNY | 2.1B CNY | 1.9B CNY | 1.2B CNY | 720.8M CNY |
| Gross profit | 1.3B CNY | 884.6M CNY | 661.4M CNY | 472.0M CNY | 381.8M CNY |
| Operating income | 123.5M CNY | -204.9M CNY | -571.6M CNY | -378.2M CNY | -265.3M CNY |
| Net income | 435.9M CNY | -102.4M CNY | -476.0M CNY | -747.2M CNY | -2.5B CNY |
| Diluted EPS | 2.98 CNY | – | -3.81 CNY | -5.95 CNY | -23.39 CNY |
| Total assets | 11.3B CNY | 6.0B CNY | 5.7B CNY | 3.8B CNY | 4.0B CNY |
| Total liabilities | 2.3B CNY | 2.1B CNY | 1.8B CNY | 997.7M CNY | 902.5M CNY |
| Shareholders' equity | 9.0B CNY | 3.9B CNY | 3.9B CNY | -3.1B CNY | -2.5B CNY |
| Cash and short-term investments | 4.8B CNY | 3.2B CNY | 3.1B CNY | 1.9B CNY | 2.8B CNY |
| Total debt | 999.5M CNY | 739.3M CNY | 559.2M CNY | 63.6M CNY | 0 CNY |
| Operating cash flow | 117.0M CNY | 63.5M CNY | 57.3M CNY | -696.0M CNY | -228.4M CNY |
| Capital spending | 342.2M CNY | 271.4M CNY | 414.7M CNY | 240.4M CNY | 281.6M CNY |
| Free cash flow | -225.2M CNY | -207.9M CNY | -357.4M CNY | -936.4M CNY | -510.0M CNY |
In CNY. Fiscal years as reported by the company; statements on this page go back to fiscal year 2019.
Questions and answers
What was Hesai Group's revenue in fiscal year 2025?
3.03 billion CNY, up 45.8% from 2.08 billion CNY in fiscal year 2024.
How much profit does Hesai Group make?
Hesai Group reported net income of 435.88 million CNY for fiscal year 2025 (14.4% of revenue); operating income was 123.54 million CNY.
How much cash and debt does Hesai Group have?
At the end of fiscal year 2025: cash and short-term investments of 4.76 billion CNY and total debt of 999.48 million CNY.
What is Hesai Group's free cash flow?
-225.21 million CNY in fiscal year 2025 (operating cash flow of 116.99 million CNY minus capital spending of 342.20 million CNY).
