Exhibit 99.1

Hesai Group Reports Third Quarter 2025 Unaudited Financial Results

Quarterly net revenues were RMB795.4 million (US$111.7 million)1

Quarterly lidar shipments were 441,398 units

Quarterly net income was RMB256.2 million (US$36.0 million)

SHANGHAI, China, Nov. 11, 2025 (GLOBE NEWSWIRE) -- Hesai Group (“Hesai” or the “Company”) (NASDAQ: HSAI; HKEX: 2525), the global leader in three-dimensional light detection and ranging (lidar) solutions, today announced its unaudited financial results for the three months ended September 30, 2025.

Management Remarks

“We’re thrilled to report another stellar quarter — hitting our full-year net income target a quarter ahead of schedule! We’ve also maintained our leadership in long-range automotive lidar for seven straight months, capturing an impressive 46% market share in August — 1.5 times the second player and 2.4 times the third, according to Gasgoo,” said Dr. Yifan “David” Li, Hesai’s Co-Founder and CEO. “For ADAS, lidar is rapidly becoming a standard feature. We secured design wins from both of our top 2 ADAS customers across all their 2026 models, achieving 100% lidar adoption. Meanwhile, the industry’s shift toward multi-lidar setups for L3, driven by safety redundancy and new regulations, is creating powerful tailwinds. Our high-end ETX lidar, featuring the world’s longest detection range, secured another design win — this time with a top 3 domestic NEV automaker, paired with multiple FTX blind-spot lidars. We now expect three to six lidars per L3 vehicle, worth roughly US$500–1,000 per car, massively expanding our addressable market. In Robotics, momentum is accelerating as autonomous fleets scale globally. We’re excited to have recently signed new lidar supply agreements with leading global robotaxi and robotruck players, including Pony.ai, Hello Inc., JD Logistics, Motional, and others across North America, Asia, and Europe. The successful completion of our Hong Kong IPO marks a bold new chapter for Hesai. Looking to the decade ahead, we’re excited to evolve into a full-spectrum technology infrastructure builder, pioneering the next wave of innovation that will redefine how cars and robots perceive and interact with the world!”

“Q3 was another outstanding quarter, with strong momentum in both scale and execution,” said Mr. Andrew Fan, Hesai’s CFO. “Net revenues surged 47% year-over-year to RMB795 million (US$112 million), driven by robust shipments and growing lidar adoption across both ADAS and Robotics. In September, we became the first lidar company globally to surpass one million units in annual production. Gross margin remained healthy at 42%, while operating expenses declined 23% year-over-year in Q3, reflecting the tangible benefits of our AI-driven improvements in cost, cycle, and quality.”

Mr. Fan added, “As a result, we delivered a record net income of RMB256 million (US$36 million) in Q3, bringing our nine-month total to RMB283 million (US$40 million), already achieving our full-year target a quarter earlier than planned. With that, we are raising our full-year GAAP net income guidance to a range of RMB350 million (US$49 million) to RMB450 million (US$63 million). Moreover, our successful dual-primary listing in Hong Kong raised US$614 million after the greenshoe option, further strengthening our financial foundation. With solid earnings and a robust balance sheet, we’re well-positioned to drive innovation and lead Hesai into its next chapter of growth.”

1 All translations from RMB to USD for the third quarter of 2025 were made at the exchange rate of RMB7.1190 to US$1.00, the exchange rate on September 30, 2025, set forth in the H.10 statistical release of the Federal Reserve Board.

Operational Highlights

Financial Highlights for the Third Quarter of 2025

(in RMB millions, except for per ordinary share data and percentage)

Business Outlook

For the fourth quarter of 2025, the Company expects net revenues to be between RMB1,000 million (US$140 million) and RMB1,200 million (US$169 million), representing a year-over-year increase of approximately 39% to 67%.

The above outlook is based on current market conditions and reflects the Company’s preliminary estimates of market and operating conditions and customer demand, which are all subject to change.

Conference Call

The Company’s management will host an earnings conference call at 7:00 AM U.S. Eastern Time on November 11, 2025 (8:00 PM Beijing/Hong Kong Time on November 11, 2025).

For participants who wish to join the call by phone, please access the link provided below to complete the pre-registration process and dial in 5 minutes prior to the scheduled call start time. Upon registration, each participant will receive dial-in details to join the conference call.

Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at https://investor.hesaitech.com.

A replay of the conference call will be accessible approximately an hour after the conclusion of the call until November 18, 2025, by dialing the following telephone numbers:

About Hesai

Hesai Technology (Nasdaq: HSAI; HKEX: 2525) is a global leader in lidar solutions. The Company’s lidar products enable a broad spectrum of applications including passenger and commercial vehicles ("ADAS"), as well as autonomous driving vehicles and robotics and other non-automotive applications such as last-mile delivery robots and AGVs ("Robotics"). Hesai seamlessly integrates its in-house manufacturing process with lidar R&D and design, enabling rapid product iteration while ensuring high performance, high quality and affordability. The Company’s commercially validated solutions are backed by superior R&D capabilities across optics, mechanics, and electronics. Hesai has established offices in Shanghai, Palo Alto and Stuttgart, with customers spanning more than 40 countries.

Use of Non-GAAP Financial Measures

To supplement Hesai's consolidated financial results presented in accordance with GAAP, Hesai uses the following measures defined as non-GAAP financial measures by the SEC: income/loss from operation excluding share-based compensation expenses, net profit/loss excluding share-based compensation expenses, net profit/loss attributable to ordinary shareholders excluding share-based compensation, and per ordinary share net income/loss attributable to ordinary shareholders excluding share-based compensation. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the tables captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this release.

Hesai believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding share-based compensation expenses that may not be indicative of its operating performance from a cash perspective. Hesai believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management's internal comparisons to Hesai's historical performance and liquidity. Hesai believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using these non-GAAP financial measures is that they exclude share-based compensation expenses that have been and will continue to be for the foreseeable future a significant recurring expense in our business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP financial measure. The accompanying tables have more details on the reconciliations between GAAP financial measures that are most directly comparable to non-GAAP financial measures.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB are made at a rate of RMB7.1190 to US$1.00, the exchange rate on September 30, 2025, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or U.S. dollars amounts referred could be converted into U.S. dollars or RMB, as the case may be, at any particular rate or at all.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue” or other similar expressions. Among other things, the business outlook and quotations from management in this announcement, as well as the Company’s strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition and results of operations; expected changes in the Company’s revenues, costs or expenditures; the trends in, expected growth and the market size of the ADAS and Robotics industries; the market for and adoption of lidar and related technology; the Company’s ability to produce high-quality products with wide market acceptance; the success of the Company’s customers in developing and commercializing products using its solutions, and the market acceptance of those products; the Company’s ability to introduce new products that meet its customers’ requirement; the Company’s expectations regarding the effectiveness of its marketing initiatives and the relationship with its third-party partners; competition in the Company’s industry; the Company’s ability to recruit and retain qualified personnel; relevant government policies and regulations relating to the Company’s industry; the Company’s ability to protect its systems and infrastructures from cyber-attacks; general economic and business conditions globally and in China; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. In the event of any inconsistency between the English version of this earnings release and its Chinese translation, the English version of this document shall prevail unless otherwise stated.

For investor and media inquiries, please contact:

Hesai Group

Capital Markets Department

Email: ir@hesaitech.com

Christensen Advisory
Tel: +86-10-5900-1548
Email: hesai@christensencomms.com

Source: Hesai Group

HESAI GROUP

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except share and per share data and otherwise noted)

HESAI GROUP

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(All amounts in thousands, except share and per share data and otherwise noted)

HESAI GROUP

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(All amounts in thousands, except share and per share data and otherwise noted)

HESAI GROUP

UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except share and per share data and otherwise noted)

HESAI GROUP

UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except share and per share data and otherwise noted)