Hesai reports non-automotive revenue exceeds 50% of total sales

During its third quarter 2026 earnings call, Hesai announced that its non-automotive robotics businesses now account for more than 50% of total revenue. This shift marks the company's transition from an automotive component supplier toward becoming a broader physical artificial intelligence infrastructure platform.

Key developments include the rapid growth of strategic growth initiatives, which generated 135 million Chinese yuan in nine months, surpassing original full-year targets. Additionally, the company reported a significant increase in robotic actuation module shipments, which rose 97% sequentially in Q3 to over 23,000 units, bringing cumulative shipments to more than 35,000.

Regarding its core lidar business, management noted that pricing competition for light detection and ranging sensors is stabilizing following a period of heavy industry discounting. The company expects pricing for its ATX lidar to stabilize further, supporting a stable margin profile heading into 2027.