Hesai Technology's stock price soared over 41% during the session on news that its lidar has won a large order from Mercedes-Benz

This evening, the stock price of Hesai Technology, a US stock market, skyrocketed after the market opened.As of press time, the stock price has risen by more than 41.79%.On the news, Hesai Technology revealed in its 2024 Q4 financial report released today that Hesai Technology has reached an exclusive multi-year fixed-point cooperation with a top European car company, covering its multiple models of fuel vehicles and new energy vehicles.

Relevant people from Hesai said that this is a multi-year, long-term cooperation project spanning 2030, and it is also the largest order in the field of overseas pre-installed mass production lidar so far.

According to market sources, the top European car company that has reached cooperation with Hesai is Mercedes-Benz.

The 2024 financial report of Hesai Technology shows that Hesai’s revenue in 2024 will reach 2.08 billion yuan, a year-on-year increase of 10.7%; the net loss will be 102 million yuan, excluding equity compensation expenses.Non-GAAP net profit for the full year of 2024 will be 13.7 million yuan, while the non-GAAP net loss last year was 241.3 million yuan.

Looking at a single quarter, Q4 revenue was 720 million yuan, an increase both year-on-year and quarter-on-quarter; net profit was 147 million yuan, turning a loss into a profit year-on-year. At the same time, the company achieved positive operating cash flow of 600 million yuan in the fourth quarter of 2024, with positive operating cash flow reaching 63 million yuan for the year, and net cash flow of 1.3 billion yuan.

In terms of shipments, Hesai Technology's total delivery volume of lidar in 2024 was 501,900 units, a year-on-year increase of 126.0%, and the annual delivery volume doubled for four consecutive years; the total delivery volume of ADAS lidar in 2024 was 456,400 units, a year-on-year increase of 134.2%.

In terms of production capacity, Hesai revealed that its new production line will be officially put into production in the third quarter of 2025. It is expected that by the end of 2025, the annual production capacity will reach 2 million units.

It is reported that Hesai Technology is a global autonomous driving and advanced assisted driving (ADAS) lidar service provider and a global lidar giant.

Currently, Hesai Technology has 7 lidar product lines, including AT series, FT series, etc. The products are widely used in the ADAS market, autonomous driving market, robots and other fields, with major customers in more than 40 countries and regions around the world.