Hesai Technology recently released its unaudited financial results for the first quarter of 2026, reporting 8 consecutive quarters of significant year-on-year revenue growth. Q1 revenue reached 680 million yuan, with total LiDAR deliveries exceeding 470,000 units. Simultaneously, Hesai announced a strategic upgrade from "spatial perception" to "spatial intelligence", launched the world’s first 6D full-color LiDAR super-sensor chip Picasso SPAD-SoC, and secured a strategic LiDAR supply deal with Mercedes-Benz for its Level 3 autonomous driving models, with production to take place at its Thailand factory.

To align with the new strategy, Hesai adjusted its financial reporting structure, splitting its business into two segments: "LiDAR Business" and "Strategic Growth Business". The Strategic Growth Business (SGI) is expected to start generating revenue in the second quarter of 2026 and contribute approximately 100 million yuan in net revenue for the full year, marking the continuous expansion of Hesai’s business boundaries.