Hesai Group files 20-F

Hesai Group reported a net income of RMB435.9 million (US$62.3 million) for the fiscal year ended December 31, 2025, a significant improvement from net losses in prior years, driven by a 45.8% increase in net revenues to RMB3,027.6 million (US$432.9 million) primarily from LiDAR product sales. The company also completed a dual primary listing on the Hong Kong Stock Exchange in September 2025, raising approximately US$614 million in net proceeds.