Hesai Group Posts Q1 Revenue of $72.4M, Adjusted EPS $0.06, Ships 200K Lidar Units; EHang Q1 Revenue Drops 60%, Eyes Non-US Listing

Hesai Group reported its first quarter 2025 unaudited financial results, posting net revenues of RMB 525.3 million (approximately US$72.4 million). The company achieved an adjusted earnings per share of $0.06 and shipped nearly 200,000 lidar units during the quarter. Hesai narrowed its losses by 84% as its lidar sales more than tripled, driven by expanding design wins with global original equipment manufacturers (OEMs) and robotics customers. For the second quarter of 2025, Hesai expects net revenues to range between RMB 680 million (US$93.7 million) and RMB 720 million (US$99.2 million). Separately, Chinese eVTOL leader EHang reported a nearly 60% decline in first quarter 2025 revenue but anticipates a strong rebound in the second quarter and is exploring a non-U.S. listing.