What changed in Hesai Group's latest annual report
In the year ended 31 Dec 2025, Hesai Group's revenue rose 52.1% to USD 432.94m, from USD 284.57m; shareholders' equity rose 137.8% to USD 1.28bn, from USD 538.65m; total assets rose 96.2% to USD 1.61bn, from USD 820.57m.
Year ended 31 Dec 2025. Source: 20-F filed 24 Apr 2026, read it on SEC EDGAR.
USD 284.57m to USD 432.94m
The figures, year on year
| Item | Year before | Latest year | Change |
|---|---|---|---|
| Revenue | 284.57m | 432.94m | Up 52.1% |
| Net income | -14.03m | 62.33m | Not comparable |
| Total assets | 820.57m | 1.61bn | Up 96.2% |
| Total liabilities | 281.93m | 329.26m | Up 16.8% |
| Long-term debt | 36.91m | 39.86m | Up 8% |
| Cash and cash equivalents | 388.94m | 237.88m | Down 38.8% |
| Shareholders' equity | 538.65m | 1.28bn | Up 137.8% |
Questions people ask
Did Hesai Group's revenue grow last year?
Revenue grew 52.1%, from USD 284.57m to USD 432.94m in the year ended 31 Dec 2025.
Is Hesai Group profitable?
Yes. Net income was USD 62.33m in the year ended 31 Dec 2025. The year before: a net loss of USD 14.03m.
How much cash and debt does Hesai Group have?
At its latest year end (31 Dec 2025), Hesai Group reported cash and cash equivalents of USD 237.88m and long-term debt of USD 39.86m.
Where do these numbers come from?
From Hesai Group's own annual filings with the SEC. Each change is calculated from the reported figures; nothing is estimated.
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