Hesai Group Q2 Earnings Call Highlights
Hesai Group (NASDAQ:HSAI) said on its Q2 earnings call it won a mass-production LiDAR design win with Great Wall Motor, with production expected in late 2026, and secured additional programs with Changan Automobile and Volkswagen. Management cited Gasgoo data showing 44% share of China long-range ADAS LiDAR in June. SGI generated RMB 45m revenue in Q2; full-year 2026 SGI outlook raised to RMB 200m-300m. Q3 revenue forecast is RMB 1.1-1.15b and LiDAR shipments 800k-850k; FY2026 LiDAR 3.0-3.5m.
How this was made
The 30-second read
Why it matters
Traders can update models for 2026-2027 revenue mix (LiDAR vs SGI), timing of COSMO revenue contribution, and gross margin trajectory near 40%, which affects valuation and near-term positioning.
Market read
The call highlights include a material SGI revenue outlook increase, first SGI quarterly revenue contribution, actuation module ramp progress, and Q3/Q4 shipment and margin guidance.
What to watch
Actuation module capacity ramp and customer deployment timelines (including Sharpa) could slip, and the article does not provide order values or customer concentration risk.
Background
The piece summarizes Hesai’s Q2 earnings call highlights, focusing on LiDAR design wins, robotics growth initiatives (SGI), and updated 2026 guidance.
Ticker impact
Hesai raised its 2026 SGI revenue outlook to RMB 200 million to RMB 300 million and guided Q3 LiDAR shipments and margins.
Near-term bias higher as traders price the SGI outlook raise, actuation module ramp, and COSMO revenue start in Q3.
The article provides multiple forward-looking datapoints (SGI outlook raise, Q3 revenue and shipment ranges, gross margin near 40%, COSMO revenue timing) that can drive repricing versus prior expectations, though it is still call-highlight framing rather than a fresh filing.
Market effects
Reinforces demand momentum for long-range ADAS LiDAR and robotics-adjacent sensing/actuation, potentially supporting sentiment across LiDAR/robotics supply chains.
China OEM design wins and market-share claims may influence regional ADAS LiDAR competitive positioning.
International OEM collaborations (e.g., Volkswagen, Mercedes work) support the narrative of scaling beyond domestic ADAS programs.
Counterpoint
SGI remains loss-making and COSMO commercialization is early, so the outlook raise may not translate into near-term earnings power.
Key entities
- public_companyHesai Group
NASDAQ-listed LiDAR and perception software provider; discussed design wins, SGI monetization, and updated 2026 guidance.
- automakerGreat Wall Motor
Named OEM for mass-production programs using Hesai ETX ultra-long-range LiDAR, with production expected late 2026.
- robotics_companySharpa
Humanoid robotics company co-founded by Hesai’s Li, supplied actuation modules with a planned August deployment at a Shanghai Dairy Queen.
- product_platformCOSMO
AI spatial camera and cloud services platform; prototypes shipped in July and expected to contribute revenue in Q3.
