Hesai Group (HSAI) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, ladies and gentlemen. Thank you for standing by. Welcome to HerSciGroup's third quarter 2025 earnings conference call. At this time, all participants are in listen-only mode. Please note that today's conference call is being recorded. I will now turn the call over to our first speaker today, Yuan-Ting Shi, the company's head of capital markets. Please go ahead. Thank you, operator. Hello, everyone. Thank you for joining Hesai Group's third quarter 2025 earnings conference call. Our earnings release is now available on our IR website at investor.hesaitech.com, as well as via Newswire Services. Today, you will hear from our CEO, Dr. David Lee, who will provide an overview of our recent updates. Next, our CFO, Mr. Andrew Fan, will address our financial results before we open the call for questions. Before we continue, I refer you to the Safe Harbor Statement in our earnings press release, which applies to this call as we will make forward-looking statements Please also note that the company will discuss non-GAAP measures today, which are more thoroughly explained and reconciled to the most comparable measures reported under GAAP in our earnings release and filings with the U.S. Securities and Exchange Commission and the Hong Kong Stock Exchange. With that, I'm pleased to turn over the call to our CEO, Dr. David Lee. David, please go ahead. Thank you Yuan Ting and thank you everyone for joining our call today. Let's start with an overview of this quarter's progress. Q3 was a quarter of powerful momentum and exceptional execution. With net revenue surging nearly 50% year over year and a landmark milestone achieved, we produced over 1 million LiDAR units in 2025 alone and are the first to do so globally. We've also led the long-range automotive LiDAR market for seve...