Hesai Technology's Lidar delivery volume in December exceeded 0.1 million units, becoming the first Lidar company in the world to achieve a monthly delivery volume of over 0.1 million units.

It is worth mentioning that Hesai delivered over 0.02 million Lidar units to the robotics market in a single month, widely covering various fields such as mobile robots, delivery robots, cleaning robots, and lawn mowing robots. In 2025, Hesai plans to exceed an annual production capacity of 2 million units.

Citi Bank has adjusted its estimate of Hesai's cumulative shipments for 2025 from 1.17 million vehicles to 1.51 million vehicles, based on the positive role of companies such as BYD, Xiaomi Automobile, Chongqing Changan Automobile, and LEAPMOTOR in promoting the growth of Hesai's Lidar sales, while the estimate for 2026 has been upgraded from 2.11 million vehicles to 3.56 million vehicles.

China Great Wall has indicated that with domestic and foreign manufacturers continuously enhancing their recognition of the importance of Lidar in intelligent driving, Lidar may witness large-scale application settlements.

浦银国际 released a Research Reports stating that Chinese Lidar manufacturers are latecomers but have achieved early success, with the vehicle application market being led by two dominant players.

On one hand, Chinese manufacturers were the first to achieve vehicle integration and volume in 2022, and by 2023, they have shown an overwhelming advantage in revenue and shipment share; meanwhile, overseas suppliers have lost further fixed-point projects due to slow mass production, with Hesai and Siasun Robot&Automation securing nearly 80% of global fixed-point cooperation, laying a solid foundation for shipment volumes in the next 2-3 years. On the other hand, the potential market size in the industry provides ample expansion space for both leading players, and the two leading Lidar manufacturers are still in a favorable competitive position within the industry.

Manufacturers of Lidar in the Hong Kong Stock Market:

Suteng Ju Chuang (02498): Suteng Ju Chuang (RoboSense) was established in 2014 and is headquartered in Shenzhen. It is a leading Lidar Technology company in China, with products covering Lidar Hardware, HyperVision integrated perception Software, and integrated solutions. In the first three quarters, Suteng Ju Chuang's revenue reached 1.135 billion yuan, an increase of 91.51% year-on-year, exceeding the total revenue for the entire year of 2023. The cumulative sales volume of Lidar in the first three quarters reached 381,900 units, a year-on-year increase of 259.6%. By the end of the third quarter, the group’s total historical Lidar sales volume surpassed 720,000 units, setting a new industry delivery record. The company’s high-level autonomous driving and Siasun Robot&Automation Business is growing rapidly. The Level 4 autonomous driving business has secured SOP partnering cooperation with several industry-leading Level 4+ autonomous driving companies. In terms of robots, the company has collaborated with several major clients across industrial, commercial, and consumer sectors using the E Lidar platform to develop new products in different vertical fields, expecting delivery of these products within the next 18 months.