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Hesai Turns to Profit in Q1

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Hesai (HKG:2525) recorded an attributable net income of 18.3 million yuan in the first quarter of 2026, compared with an attributable loss of 17.5 million yuan a year prior, according to a Tuesday filing with the Hong Kong bourse.

Earnings per share stood at 0.11 yuan, compared with a loss per share of 0.13 yuan in the corresponding period of the previous fiscal year.

The three-dimensional light detection and ranging product developer's revenue jumped 30% to 680.6 million yuan from 525.3 million yuan in the year-ago period.

For the second quarter, the firm expects a 20% to 27% rise in revenue to between 850 million yuan and 900 million yuan.

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