GlobeNewsWire
19 May 2026, 08:30 UTC · 2d ago
Source · https://www.globenewswire.com/news-release/2026/05/19/3297198/0/en/Hesai-Group-Reports-First-Quarter-2026-Unaudited-Financial-Results.html
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Hesai has been confirmed as a strategic lidar partner and supplier for Mercedes-Benz models enabling L3 autonomy. — Securing a major global OEM like Mercedes-Benz for L3 autonomy is a massive validation of technology and ensures high-volume future revenue.
+0.80Hesai reported its fourth consecutive quarter of GAAP profitability with a net income of RMB18.3 million for Q1 2026. — Consistent GAAP profitability signals a transition from a venture-stage growth company to a sustainable business model.
+0.60The company's new 'Strategic Growth Initiatives' (SGI) segment is expected to contribute approximately RMB100 million in net revenues in 2026. — Diversification into Physical AI and recurring revenue streams provides a long-term growth catalyst beyond automotive hardware.
+0.50Quarterly net revenues grew 30% year-over-year to RMB680.6 million, driven by shipments of 471,723 units. — Strong top-line growth confirms robust demand for lidar in both ADAS and robotics markets.
+0.40Hesai maintained a 55% share of China's long-range automotive lidar market as of March 2026. — Dominant market share in the world's largest EV market provides a significant competitive moat.
+0.30Impact vectors
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The company reported revenue growth, consecutive quarters of profitability, and a strategic partnership with Mercedes-Benz.
Mercedes-Benz is mentioned as utilizing Hesai's lidar to enable L3 autonomy in its models.
[b_to_a] Mercedes-Benz is a customer of Hesai's lidar technology for autonomous driving.
[a_to_b] Hesai is a confirmed supplier of lidar for Mercedes-Benz models enabling L3 autonomy.
[mutual] Hesai serves as a strategic lidar partner for Mercedes-Benz.
