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Hesai Chief Financial Officer Fan Peng: Business scale and execution efficiency both demonstrate strong momentum
Jin10 Data, November 11th: Hesai's Chief Financial Officer, Fan Peng, achieved another excellent quarter, with both business scale and operational efficiency demonstrating strong momentum. Thanks to the increasing penetration of laser radar in the ADAS and robotics sectors and robust shipment volumes, net revenue for the third quarter surged 47% year-over-year to 795 million RMB (112 million USD). In September, we became the world's first laser radar company with an annual production capacity exceeding one million units. The gross profit margin remained steady at 42% in the third quarter, while operating expenses decreased 23% year-over-year, reflecting the significant results of our continuous optimization and improvement in cost control, operational turnover, and quality management through AI technology.

