Hesai Technology (02525.HK / HSAI) reported revenue of RMB 861 million for the second quarter of fiscal 2026, achieving a net profit of RMB 70.6 million and marking its fifth consecutive quarter of GAAP profitability. Total lidar shipments reached 628,300 units during the quarter, representing a substantial 78.4% year-over-year increase.
The company's Strategic Growth Initiative (SGI) contributed revenue for the first time, with over 10,000 units of robotic power modules delivered. The spatial intelligence platform, Kosmo, has secured orders from multiple leading humanoid robot manufacturers. In light of this traction, Hesai has raised its full-year 2026 SGI revenue guidance to a range of RMB 200 million to RMB 300 million, up from the previous target of RMB 100 million.
Within the broader shipment figures, ADAS lidar volume reached 485,900 units, up 60.1% from the prior year, while robotics-related lidar shipments surged 193.4% year-over-year to 142,400 units.
Regarding the SGI segment, the power module production line is now fully operational, with the product portfolio expanding toward full-body joint modules. Shipments are projected to reach six figures in 2027. Additionally, the first batch of Kosmo prototypes was delivered in July, with revenue recognition anticipated to begin in the third quarter.
Looking ahead, the company forecasts net revenue for the third quarter of 2026 to be between RMB 1.1 billion and RMB 1.15 billion, reflecting year-over-year growth of approximately 38% to 45%. Management expects the SGI business to generate around USD 100 million in revenue and reach break-even status by 2027.
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