0001104659-24-051452 | 20-F | XBRL Viewer

Print Document

Combined and Consolidated Balance Sheets (Parenthetical) ¥ in Thousands	Dec. 31, 2023 CNY (¥) shares	Dec. 31, 2022 CNY (¥) shares
Allowance for accounts receivables \| ¥	¥ 49,132	¥ 6,249
Allowance for contract assets \| ¥	¥ 122	¥ 459
Redeemable shares, issued	54,551,513	54,551,513
Redeemable shares, outstanding	0	0
Class A
Ordinary shares, authorized	50,000,000	35,000,000
Ordinary shares, issued	30,033,379	30,033,379
Ordinary shares, outstanding	30,033,379	30,033,379
Class B
Ordinary shares, authorized	900,000,000	150,000,000
Ordinary shares, issued	99,626,332	30,949,701
Ordinary shares, outstanding	96,995,110	30,949,701

Prepayments and Other Current Assets

12 Months Ended

Dec. 31, 2023

Prepaid Expense and Other Assets [Abstract]

Prepayments and Other Current Assets

5.PREPAYMENTS AND OTHER CURRENT ASSETS

Prepayments and other current assets, as of December 31, 2022 and 2023 were as follows:


	As of December 31,
	2022	2023
	RMB	RMB
Advances to suppliers	82,419	120,556
Deposits	11,998	22,042
Prepaid expenses	10,108	16,372
Value-added tax recoverable	6,748	21,888
Others	15,179	27,224
Total	126,452	208,082

Summary of Significant Accounting Policies - Property and equipment, net (Details)	Dec. 31, 2023
Electronic equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life of property and equipment	3 years
Electronic equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life of property and equipment	5 years
Machinery and equipment
Property, Plant and Equipment [Line Items]
Estimated useful life of property and equipment	10 years
Furniture and fixture
Property, Plant and Equipment [Line Items]
Estimated useful life of property and equipment	5 years
Transportation vehicles
Property, Plant and Equipment [Line Items]
Estimated useful life of property and equipment	4 years

Employee Benefit (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
Employee Benefit (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Contribution for employee benefits	¥ 122,844	¥ 82,877	¥ 50,648

Other Non-Current Assets

12 Months Ended

Dec. 31, 2023

Other Assets, Noncurrent [Abstract]

Other Non-Current Assets

10.	OTHER NON-CURRENT ASSETS

Other non-current assets as of December 31, 2022 and 2023 are as follows:


	As of December 31,
	2022	2023
	RMB	RMB
Prepayments for purchase of property and equipment	46,083	77,596
Demonstration fleet	4,936	3,819
Long-term deposits	3,836	8,612
Others	2,243	141
Other non-current assets	57,098	90,168

Long-term deposits mainly consist of rental deposit for offices and production capacity which will not be collectible within one year.

Summary of Significant Accounting Policies - Foreign currency risk (Details) $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Accounting Policies [Abstract]
Cash and cash equivalents and time deposits	$ 131,832	$ 51,351
Exchange rate used for translations of balances	7.0999

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of future minimum capital payment under non-cancellable agreements


		As of December 31,
		2023
		RMB
2024		115,813
Total		115,813

Summary of Significant Accounting Policies - Intangible assets (Details)	Dec. 31, 2023
Software \| Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life of intangible assets	3 years
Software \| Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life of intangible assets	10 years
Technology \| Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life of intangible assets	3 years
Technology \| Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life of intangible assets	8 years
Land-use rights
Finite-Lived Intangible Assets [Line Items]
Useful life of intangible assets	50 years

Segment (Details) ¥ in Thousands, $ in Thousands			12 Months Ended
Segment (Details) ¥ in Thousands, $ in Thousands	Nov. 15, 2023 CNY (¥)	Nov. 15, 2023 USD ($)	Dec. 31, 2023 CNY (¥) segment	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Segment Reporting Information [Line Items]
Number of operating segments \| segment			2	2
Net revenues			¥ 1,876,989	$ 264,368	¥ 1,202,670	¥ 720,768
Segment profit			661,378	$ 93,153	471,987	381,796
Percentage of equity interest sold in subsidiary	100.00%	100.00%
Intellectual property right at a total consideration \| $		$ 3,700
Gain on disposal in other operating income	¥ 6,100	$ 900
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Operating Income (Expense), Net	Other Operating Income (Expense), Net
LiDAR segment \| Operating segments
Segment Reporting Information [Line Items]
Segment profit			643,325		458,403	370,466
LiDAR segment \| Operating segments \| Product
Segment Reporting Information [Line Items]
Net revenues			1,738,027		1,127,900	686,533
Cost of revenues			1,176,472		707,617	326,160
LiDAR segment \| Operating segments \| Service
Segment Reporting Information [Line Items]
Net revenues			112,099		50,803	14,702
Cost of revenues			30,329		12,683	4,609
Gas detection segment \| Operating segments
Segment Reporting Information [Line Items]
Net revenues			26,863		23,967	19,533
Cost of revenues			8,810		10,383	8,203
Segment profit			¥ 18,053		¥ 13,584	¥ 11,330

Accounts Receivable, Net - Allowance for credit losses (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Balance at beginning of year	¥ 6,249	¥ 7,294
(Reversal) provision for expected credit losses	42,883	(1,045)
Balance at end of year	¥ 49,132	¥ 6,249

Share-Based Compensation

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Share-Based Compensation

19.	SHARE-BASED COMPENSATION

Employee share options

In March 2023, the Company’s board of directors approved a modification on the vesting schedule of 1,136,631 share options that previously issued under the 2021 Plan. As the result of the modification, there was no incremental value conveyed to the holder of the award, no incremental compensation cost was recognized, the Group recognized RMB6,690 share-based compensation expenses at the date of modification.

On March 10, March 21, May 30, June 30, August 18, November 17 and December 20, 2023 under the 2021 Plan, the Company granted 2,422,714 share options to certain employees, the vesting schedule of the awards include:

Twenty-five percent (25%) of the 2,069,592 options to be vested on each of the first, second, third and fourth anniversaries of the vesting commencement date.

Thirty-three percent (33%) of the 2,833 options to be vested on each of the first, second, and third anniversaries of the vesting commencement date.

One forty-eighth (1/48) of the 195,881 options to be vested on each calendar month, from the first full calendar month following the vesting commencement date though the forty-eighth (48th) month.

Twenty-five percent (25%) of the 154,408 options to be vested on the each of the vesting commencement date, and another twenty-five percent (25%) to be vested on each of the first, second and third anniversaries of the vesting commencement date.

19.	SHARE-BASED COMPENSATION (continued)

Employee share options - continued

The binomial option pricing model was applied in determining the estimated fair value of the options granted. The model requires the input of subjective assumptions. The following table presents the assumptions used to estimate the fair values of the share options granted for the years ended December 31, 2021, 2022 and 2023:


	For the year ended December 31,
	2021		2022		2023
Expected volatility	48.00% - 74.00	%	74.00% – 80.00	%	82.00% - 85.00	%
Risk-free interest rate (per annum)	0.97% - 1.55	%	1.94% – 3.83	%	3.57% - 4.47	%
Expected dividend yield	0.00	%	0.00	%	0.00	%
Employee forfeiture rate (per annum)	3.80	%	3.80% – 3.92	%	2.40% - 7.50	%
Exercise multiples	2.50		2.50		2.50
Expected term	7.00		7.00		7.00
Fair value of underlying ordinary share (per share)	US$14.10 - 18.42		US$18.11 – 19.91		US$7.95 - 15.47
Fair value of awards on valuation date	US$5.84 - 19.90		US$12.93 – 17.11		US$5.38 - 10.51

1)Expected volatility:

Expected volatility was estimated based on historical volatility of comparable companies for the period before the valuation date with length commensurate to contractual life of the share options.

2)Risk-free interest rate (per annum):

Risk-free interest rate was estimated based on the US Government Bond around the valuation date.

3)Expected dividend yield

The dividend yield was estimated as zero based on the plan to retain profit for corporate expansion and no dividend will be distributed in the near future.

4)Employee forfeiture rate (per annum):

Employee forfeiture rate was estimated by the management using employee resignation statistics.

5)Exercise multiple

Assumption on exercise multiple is made with reference to academic research.

6)Expected term:

The expected term was the life of options extracted from option agreements.

7)Fair value of underlying ordinary share (per share)

The fair value before the completion the initial public offering in the United States considered discounted cash flow method which converts future amounts to a single present value amount and requires significant judgements on the expected future free cash flows and other assumptions including appropriate discount rate and estimate of long-term growth rate of the Group’s business and was the Group’s stock price on grant date after the initial public offering in the United States.

19.	SHARE-BASED COMPENSATION (continued)

Employee share options - continued

The following table summarizes the activities of the Group’s share options classified as equity for the years ended December 31, 2022 and 2023:


				Weighted
		Weighted	Weighted	average
	Number	average	average	remaining	Aggregate
	of	exercise	grant date	contract	intrinsic
	options	price	fair value	life	value
		RMB	RMB	Years	RMB
Outstanding at December 31, 2022	9,608,634	12.51	65.93	5.46	1,141,255
Granted	2,422,714	14.49	55.08	—	—
Forfeited	506,540	44.32	—	—	—
Exercised	1,333,087	16.59	—	—	74,380
Outstanding at December 31, 2023	10,191,721	16.07	62.08	4.97	517,605
Vested and expected to vest as of December 31, 2023	10,191,721	16.07	62.08	4.97	517,605
Exercisable as of December 31, 2023	5,335,293	15.74	50.36	4.34	287,997

The weighted-average grant-date fair value of options granted during the years 2021, 2022, and 2023 was RMB102.74, RMB121.62, and RMB55.08, respectively. The total intrinsic value of options exercised during the years ended December 31, 2021, 2022, and 2023, was nil, nil and RMB74,380 respectively.

The Group did not record any compensation expenses related to options awarded with IPO condition prior to the completion of IPO during the years 2021 and 2022. The Share-based compensation expense of RMB79,804 related to the vested portion of these options has been recognized upon the effectiveness of the registration statements on February 8, 2023. Total compensation expense recognized for the years ended December 31, 2021, 2022 and 2023 was RMB54,283, RMB104,750 and RMB228,312, respectively.

As of December 31, 2023, there was RMB291,247 of unrecognized compensation expenses, which is expected to be recognized over a weighted average period of 2.35 years.

Restricted share units (“RSUs”)

On March 10, March 21, May 30, August 18 and November 17, 2023 under the 2021 Plan, the Company granted 189,012 RSUs to eligible management team, the vesting schedule of the awards include:

Fifty percent (50%) of the 54,775 RSUs to be vested on each of the first and second anniversaries of the vesting commencement date.

Twenty-five percent (25%) of the 120,143 RSUs to be vested on each of the first, second, third and fourth anniversaries of the vesting commencement date.

One eighth (1/8) of the 14,094 RSUs shall vest every six months from the vesting commencement date.

19.	SHARE-BASED COMPENSATION (continued)

Restricted share units (“RSUs”) - continued

The Group did not grant RSUs during the years 2021 and 2022. The following table summarizes the activities of the Group’s RSUs classified as equity for the year ended December 31, 2023:


		Weighted
	Numbers of	average grant
	RSUs	date fair value
		RMB
Outstanding at January 1, 2023	—	—
Granted	189,012	76.52
Forfeited	—
Exercised	35,691
Outstanding at December 31, 2023	153,321	76.06
Vested and expected to vest as of December 31, 2023	153,321	76.06
Exercisable as of December 31, 2023	—	—

The weighted-average grant-date fair value of share units granted during the year 2023 was RMB76.52. The total intrinsic value of share units exercised during the years ended December 31, 2023, was RMB2,252. Total compensation expense recognized for the year ended December 31, 2023 was RMB5,646.

As of December 31, 2023, there was RMB8,816 of unrecognized compensation expenses, which is expected to be recognized over a weighted average period of 2.47 years.

Tandem award

In May 2022, the Company granted an employee with a share option award of 60,000 shares with a per share exercise price of US$18.65, which is based on the fair value of the ordinary share at the date of the grant. The options will vest rateably over a four-year period with 25% vested every year. The option agreement includes a provision whereby the grantee can choose to receive cash payment at US$8 per share for any options that are vested but not exercised if his employment upon termination of employment when such grantee continuously work for the Group for four years. Exercise of share options cancels the cash award, and the cash redemption cancels all the vested share options. The Company considered this award as a combination grant of a cash settlement component with compensation cost measured based on the combined value.

This tandem award was classified as liabilities. Total compensation expense recognized for the years ended December 31, 2022 and 2023 was RMB469 and RMB666, respectively.

19.	SHARE-BASED COMPENSATION (continued)

Share-based compensation for all employee share options, restricted share units and tandem award

The Group recorded share-based compensation expense of RMB54,283, RMB105,219 and RMB234,624 for the years ended December 31, 2021, 2022 and 2023, respectively, which were classified in the accompanying consolidated statements of operations as follows:


	For the Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB
Cost of revenues	1,813	8,037	16,245
Sales and marketing expenses	1,488	6,291	20,682
General and administrative expenses	38,892	48,998	63,326
Research and development expenses	12,090	41,893	134,371
Total	54,283	105,219	234,624

Summary of Significant Accounting Policies (Details) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Goodwill [Line Items]
Equity method investment, impairment	¥ 0		¥ 0	¥ 0
Extended warranty service expense	10,413		7,702	676
Accrued warranty liability
Balance as of the beginning of the year	17,694		13,932	10,042
Warranty provision	26,247		8,467	10,766
Consumption	(15,516)		(4,705)	(6,876)
Balance as of the end of the year	¥ 28,425	$ 4,004,000	¥ 17,694	¥ 13,932
Minimum
Goodwill [Line Items]
Period for extended warranty	1 year	1 year
Maximum
Goodwill [Line Items]
Period for extended warranty	2 years	2 years
Oxigraf Inc.
Goodwill [Line Items]
Impairment on goodwill \| $		$ 1,982,033

Commitments and Contingencies

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

25.	COMMITMENTS AND CONTINGENCIES

Capital expenditure commitments related to the new manufacturing facility in Shanghai

Future minimum capital payment under non-cancellable agreements are as follow:


		As of December 31,
		2023
		RMB
2024		115,813
Total		115,813

25.	COMMITMENTS AND CONTINGENCIES (continued)

Royalty fee commitments

The Group is obligated to make royalty payments to a third party from 2020 through 2030. The royalty payments for 2021 and 2022 should be US$3.0 million. For each year starting from 2023, the royalty payment is determined to be the greater amount of a base payment of US$3.0 million (except for the year of 2030, where the base payment shall be US$0.3 million) or amount calculated based on a tiered percentage of net revenues. In particular, the percentage should be 4%, 3% and 2% for the net revenues of rotational scanning product from US$0 to US$425,000, from US$425,000 to US$2,925,000, and from US$2,925,000 to above, respectively. Net sales do not include (a) taxes, tariffs, customs duties, excise, or other governmental charges (except income tax) levied and that are separately stated in an invoice, (b) reasonable charges for freight or insurance that are separately stated in an invoice and borne by the Group or its affiliates.

The actual royalty fees for the years ended December 31, 2021, 2022 and 2023 were RMB18,542, RMB18,044 and RMB35,288, respectively.

Contingencies

The Group may from time to time be subject to various legal or administrative claims and proceedings arising in the ordinary course of business.

On April 7, 2023, the Company and certain of its officers, directors, authorized U.S. representative, and IPO underwriters were named as defendants in a putative securities class action filed with federal court, alleging that the Company made false and misleading statements in its IPO registration statement.

On April 11, 2023, Ouster Inc. (“Ouster”) filed a complaint against the Company with the United States District Court for the District of Delaware (“Delaware Action”) for alleged patent infringement relating to the production, use, sale and/or importation of certain LiDAR systems and/or components thereof.

As these matters are in their preliminary stage, the Company cannot reasonably determine the outcome of these ligations and regulatory proceeding and potential loss, if any.

Share-Based Compensation - Share-based compensation (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based compensation
Compensation expenses to options granted	¥ 234,624	¥ 105,219	¥ 54,283
Tandem award
Share-based compensation
Compensation expenses to options granted	666	469
Cost of revenues
Share-based compensation
Compensation expenses to options granted	16,245	8,037	1,813
Sales and marketing expenses
Share-based compensation
Compensation expenses to options granted	20,682	6,291	1,488
General and administrative expenses
Share-based compensation
Compensation expenses to options granted	63,326	48,998	38,892
Research and development expenses
Share-based compensation
Compensation expenses to options granted	¥ 134,371	¥ 41,893	¥ 12,090

Employee Benefit

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Employee Benefit

23.	EMPLOYEE BENEFIT

Mainland China Contribution Plan

Full time employees of the Group in the PRC participate in a government-mandated defined contribution plan pursuant to which certain pension benefits, unemployment insurance, employee housing fund and other welfare benefits are provided to employees. PRC labor regulations require that the Group to accrue for these benefits based on a certain percentage of the employees’ salaries. The total contribution for such employee benefits were RMB50,648, RMB82,877 and RMB122,844 for the years ended December 31, 2021, 2022 and 2023, respectively. The Group has no ongoing obligation to its employees subsequent to its contributions to the PRC plan.

Prepayments and Other Current Assets (Tables)

12 Months Ended

Dec. 31, 2023

Prepaid Expense and Other Assets [Abstract]

Schedule of prepayments and other current assets


	As of December 31,
	2022	2023
	RMB	RMB
Advances to suppliers	82,419	120,556
Deposits	11,998	22,042
Prepaid expenses	10,108	16,372
Value-added tax recoverable	6,748	21,888
Others	15,179	27,224
Total	126,452	208,082

Long-Term Investments

12 Months Ended

Dec. 31, 2023

Equity Method Investments and Joint Ventures [Abstract]

Long-Term Investments

9.	LONG-TERM INVESTMENTS


	As of December 31,
	2022	2023
	RMB	RMB
Investments in equity securities	30,000	30,000
Investments in equity method investee	1,856	1,811
Total	31,856	31,811

In July 2022, the Group made investment in Vertilite Co., Ltd. (“Vertilite”) with total consideration RMB30,000 without control, joint control or significant influence.

Inventories (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
Inventories (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2023 USD ($)
Inventory Disclosure [Abstract]
Raw materials	¥ 126,347		¥ 290,121
Work-in-process	199,153		180,367
Finished goods	170,377		176,364
Inventories	495,877		646,852		$ 69,843
Inventory write-down	¥ 9,290	$ 1,308	¥ 39,431	¥ 16,600

Borrowings - Short-term bank borrowings (Details) - Short-Term Debt	1 Months Ended		12 Months Ended
	Dec. 31, 2023 CNY (¥)	Nov. 30, 2022 CNY (¥) agreement	Dec. 31, 2023 CNY (¥) agreement
Short-Term Debt [Line Items]
Number of credit facilities \| agreement		2	2
Amount of credit facilities	¥ 500,000,000	¥ 300,000,000	¥ 500,000,000
Expiration date	Dec. 12, 2024	Nov. 23, 2023
Amount drew drawn			¥ 109,900
Interest rate			2.85%
Unused bank facility	¥ 500,000,000		¥ 500,000,000
Prime Rate
Short-Term Debt [Line Items]
Period of LPR considered		1 year	1 year
Annual interest rate		0.80%	0.80%

Combined and Consolidated Statements of Operations and Comprehensive Loss ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥) ¥ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 CNY (¥) ¥ / shares shares	Dec. 31, 2021 CNY (¥) ¥ / shares shares
Statement of Comprehensive Income [Abstract]
Net revenues (including revenues from related parties of RMB15,655, nil and nil for the years ended December 31, 2021, 2022, and 2023, respectively)	¥ 1,876,989	$ 264,368	¥ 1,202,670	¥ 720,768
Cost of revenues	(1,215,611)	(171,215)	(730,683)	(338,972)
Gross Profit	661,378	93,153	471,987	381,796
Operating Expenses:
Sales and marketing expenses	(148,798)	(20,958)	(104,835)	(69,266)
General and administrative expenses	(320,144)	(45,091)	(201,007)	(236,713)
Research and development expenses	(790,547)	(111,346)	(555,179)	(368,435)
Other operating income, net	26,520	3,735	10,817	27,333
Total operating expenses	(1,232,969)	(173,660)	(850,204)	(647,081)
Loss from operations	(571,591)	(80,507)	(378,217)	(265,285)
Interest income	99,813	14,058	58,734	32,584
Interest expenses	(3,069)	(432)
Foreign exchange (loss) gain, net	(452)	(64)	20,858	(13,275)
Other (loss) income, net	34	5	(2,161)	118
Net loss before income tax and share of loss in equity method investments	(475,265)	(66,940)	(300,786)	(245,858)
Income tax benefit (expense)	(658)	(93)	66	1,115
Share of loss in equity method investment	(45)	(6)	(45)	(84)
Net loss	(475,968)	(67,039)	(300,765)	(244,827)
Deemed dividend \| ¥			(446,419)	(2,211,330)
Net loss attributable to ordinary shareholders of the Company	¥ (475,968)	$ (67,039)	¥ (747,184)	¥ (2,456,157)
Net loss per share:
Basic (amounts per share) \| (per share)	¥ (3.81)	$ (0.54)	¥ (6.47)	¥ (23.39)
Diluted (amounts per share) \| (per share)	¥ (3.81)	$ (0.54)	¥ (6.47)	¥ (23.39)
Weighted average shares used in calculating net loss per share:
Basic (in shares)	124,783,013	124,783,013	115,534,593	104,987,478
Diluted (in shares)	124,783,013	124,783,013	115,534,593	104,987,478
Net loss	¥ (475,968)	$ (67,039)	¥ (300,765)	¥ (244,827)
Other comprehensive (loss) income, net of tax of nil:
Foreign currency translation adjustments	42,048	5,922	(12,073)	9,083
Comprehensive loss	¥ (433,920)	$ (61,117)	¥ (312,838)	¥ (235,744)

Commitments and Contingencies - Capital expenditure commitments (Details) ¥ in Thousands	Dec. 31, 2023 CNY (¥)
Future minimum capital payment under non-cancellable agreements
2024	¥ 115,813
Total	¥ 115,813

Related Party Transactions (Details) ¥ in Thousands, $ in Thousands	1 Months Ended	12 Months Ended
	Nov. 30, 2023 CNY (¥)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2023 USD ($)
Related Party Transaction
Net revenues		¥ 0		¥ 0	¥ 15,655
Payment for equity acquisition consideration		17,506
Subscription consideration received from shareholders		17,506	$ 2,466		507,620
Amounts due to related parties, net of allowance		340,051		334,283	307,498	$ 47,895
Affiliates of the shareholder of the Group
Related Party Transaction
Net revenues					15,655
Amounts due to related parties, net of allowance		14,023
Founding Shareholders and certain shareholders
Related Party Transaction
Payment for equity acquisition consideration	¥ 17,506	17,506
Subscription consideration received from shareholders	¥ 17,506	17,506
Amounts due to related parties, net of allowance		¥ 326,028		¥ 334,283	¥ 307,498

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

+ Details

Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Schedule of property and equipment


	As of December 31,
	2022	2023
	RMB	RMB
Cost
Land	—	39,312
Electronic equipment	79,663	114,237
Leasehold improvements	63,995	67,677
Machinery and equipment	121,614	186,890
Furniture and fixture	54,851	78,169
Transportation vehicles	4,411	5,400
Total cost	324,534	491,685
Less: Accumulated depreciation	(84,329)	(154,473)
Property and equipment, net	240,205	337,212
Construction in Progress	264,748	534,399
Total	504,953	871,611

Share-Based Compensation - Assumptions used to estimate the fair values of the share options granted (Details) - 2022 Option Incentive Plan	12 Months Ended
	Dec. 31, 2023 $ / shares	Dec. 31, 2022 $ / shares	Dec. 31, 2021 $ / shares
Share-Based Compensation Arrangement by Share-Based Payment Award
Expected volatility, minimum	82.00%	74.00%	48.00%
Expected volatility, maximum	85.00%	80.00%	74.00%
Risk-free interest rate, minimum (per annum)	3.57%	1.94%	0.97%
Risk-free interest rate, maximum (per annum)	4.47%	3.83%	1.55%
Expected dividend yield	0.00%	0.00%	0.00%
Employee forfeiture rate (per annum)			3.80%
Exercise multiples	2.50	2.50	2.50
Expected term	7 years	7 years	7 years
Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award
Employee forfeiture rate (per annum)	2.40%	3.80%
Fair value of underlying ordinary share (per share)	$ 7.95	$ 18.11	$ 14.10
Fair value of awards on valuation date	$ 5.38	$ 12.93	5.84
Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award
Employee forfeiture rate (per annum)	7.50%	3.92%
Fair value of underlying ordinary share (per share)	$ 15.47	$ 19.91	18.42
Fair value of awards on valuation date	$ 10.51	$ 17.11	$ 19.90

Loss per Share (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Schedule of calculation of net loss per share


	For the year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB
Numerator
Net loss	(244,827)	(300,765)	(475,968)
Deemed dividend	(2,211,330)	(446,419)	—
Net loss attributable to ordinary shareholders	(2,456,157)	(747,184)	(475,968)
Denominator
Weighted average number of ordinary shares outstanding-basic and diluted	104,987,478	115,534,593	124,783,013
Basic and diluted net loss per share attributable to ordinary shareholders	(23.39)	(6.47)	(3.81)

Schedule of share options were excluded from the calculation of diluted net loss per ordinary share


	For the year ended December 31,
	2021	2022	2023
	Number	Number	Number
Shares issuable upon exercise of share options	9,173,623	9,608,634	10,191,721
Shares issuable upon exercise of restricted share units	—	—	153,321
Shares issuable upon exercise of tandem award	—	60,000	60,000
Total	9,173,623	9,668,634	10,405,042

Property and Equipment, Net

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

6.PROPERTY AND EQUIPMENT, NET

Property and equipment, as of December 31, 2022 and 2023 are as follows:


	As of December 31,
	2022	2023
	RMB	RMB
Cost
Land	—	39,312
Electronic equipment	79,663	114,237
Leasehold improvements	63,995	67,677
Machinery and equipment	121,614	186,890
Furniture and fixture	54,851	78,169
Transportation vehicles	4,411	5,400
Total cost	324,534	491,685
Less: Accumulated depreciation	(84,329)	(154,473)
Property and equipment, net	240,205	337,212
Construction in Progress	264,748	534,399
Total	504,953	871,611

Depreciation expenses were RMB21,187, RMB44,856 and RMB77,701 for the years ended December 31, 2021, 2022 and 2023, respectively.

Construction in progress as of December 31, 2022 and 2023 mainly represents the Company’s new research and development and intelligent manufacturing center in Shanghai, PRC, which was ready for use since January 2024.

In September 2023, the Group acquired an industrial raw land at a total cost of Thai baht189.4 million, equivalent to RMB39,312, covering a total area of 25,686 square meters in Chachoengsao Province, Thailand, for the construction of a new factory.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of property and equipment over estimated useful life

Electronic equipment		3 – 5 years
Machinery and equipment		10 years
Furniture and fixture		5 years
Transportation vehicles		4 years
Leasehold improvements		Over the shorter of the expected lease term or useful lives

Schedule of intangible assets useful life

Software		3 – 10 years
Technology		3 – 8 years

Schedule of accrued warranty liability


	For the Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB
Balance as of the beginning of the year	10,042	13,932	17,694
Warranty provision	10,766	8,467	26,247
Consumption	(6,876)	(4,705)	(15,516)
Balance as of the end of the year	13,932	17,694	28,425

Schedule of impact on the combined and consolidated balance sheets upon adoption of ASC842


	December 31, 2021	January 1, 2022
		Effect of the	After adoption
	As reported	adoption of ASC 842	of ASC 842
	RMB	RMB	RMB
ASSETS
Right-of-use assets	—	36,030	36,030
TOTAL ASSETS	—	36,030	36,030
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accrued expenses and other current liabilities	569	12,566	13,135
Lease liabilities, non-current	—	23,464	23,464
TOTAL LIABILITIES	569	36,030	36,599
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT	569	36,030	36,599

Schedule of concentration of risks

Concentration of customers

The following customers accounted for 10% or more of revenue for the years ended December 31, 2021, 2022 and 2023:


	For the Year ended
	December 31,
	2021		2022		2023
Customer A	*		24.3	%	25.6	%
Customer B	17.5	%	13.7	%	28.4	%
Customer C	12.7	%	*		*

The following customers accounted for 10% or more of the Group’s accounts receivable, contract assets and amount due from related parties as of December 31, 2022 and 2023:


	As of December 31,
	2022		2023
Customer A	61.0	%	41.3	%
Customer B	15.3	%	10.2	%
Customer D	*		11.2	%

Concentration of suppliers

The Group has one supplier accounted for 10% or more of purchases for the years ended December 31, 2021 and 2022:


	For the Year ended December 31,
	2021		2022		2023
Supplier A	13.7	%	12.3	%	*

Combined and Consolidated Statements of Changes in Shareholders' (Deficit) Equity (Parenthetical) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)
Statement of Stockholders' Equity [Abstract]
Issuance of ordinary shares for initial public offering ("IPO"), net of issuance cost	¥ 117,774

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of maturities of lease liabilities in accordance with leases


	As of	As of
	December 31, 2022	December 31, 2023
	RMB	RMB
2023	36,025	—
2024	7,145	38,305
2025	3,282	25,951
2026	—	24,672
2027	—	24,877
2028	—	27,139
2029	—	24,877
Total lease payment	46,452	165,821
Less: imputed interest	(1,338)	(11,415)
Present value of minimum operating lease payments	45,114	154,406
Less: Current operating lease liabilities	(34,975)	(34,993)
Long-term operating lease liabilities	10,139	119,413

Accrued Expenses and Other Current Liabilities

12 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

Accrued Expenses and Other Current Liabilities

13.ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities as of December 31, 2022 and 2023 are as follows:


	As of December 31,
	2022	2023
	RMB	RMB
Salaries and welfare payables	166,923	195,014
Payables for purchase of property and equipment	102,181	179,839
Accrued expenses	41,558	65,159
Current portion of operating lease liabilities	34,975	34,993
VAT and other tax payables	5,903	19,847
Advances from employees	4,962	3,472
Total	356,502	498,324

Additional Information of the Parent Company - Condensed Statements of Cash Flows (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Cash flows from operating activities:
Net loss	¥ (475,968)	$ (67,039)	¥ (300,765)	¥ (244,827)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	86,268	12,151	53,634	28,231
Loss from equity in earnings of subsidiaries	45	6	45	84
Share-based compensation	234,624	33,046	105,219	54,283
Fair value change of short-term investments	(15,095)	(2,126)	4,878	(7,717)
Foreign exchange loss (gain), net	(9)	(1)	(5,868)	10,945
Changes in operating assets and liabilities:
Prepayments and other current assets	(82,646)	(11,640)	(33,556)	(48,618)
Amounts due from related parties				24,788
Accrued expenses and other current liabilities	80,297	11,310	(41,074)	170,125
Net cash used in operating activities	57,261	8,065	(696,015)	(228,386)
Cash flows from investing activities:
Purchases of short-term investments	(5,100,868)	(718,442)	(5,586,764)	(4,812,942)
Maturity of short-term investments	4,479,302	630,896	6,978,764	3,114,287
Purchases of property and equipment	(406,748)	(57,289)	(231,210)	(220,096)
Investments in subsidiaries	(17,506)
Net cash used in investing activities	(1,060,393)	(149,354)	1,119,646	(1,980,237)
Cash flows from financing activities:
Cash contribution from shareholders in connection with the 2021 Reorganization	17,506	2,466		507,620
Proceeds from issuance of convertible loans				1,950,338
Proceeds from issuance of ordinary shares	1,225,470	172,604		453,978
Payment of offering costs	(22,828)	(3,215)	(3,296)
Proceeds from issuance of ordinary shares upon the exercise of share options	2,872	405
Net cash provided by financing activities	1,590,356	223,998	15,176	2,403,726
Net increase (decrease) in cash and cash equivalents	587,224	82,709	438,807	195,103
Cash, cash equivalents and restricted cash, beginning of the year	913,277	128,632	449,352	256,688
Effect of foreign exchange rate changes on cash and cash equivalents	57,623	8,116	25,118	(2,439)
Cash, cash equivalents and restricted cash, end of the year	1,558,124	219,457	913,277	449,352
Supplemental disclosure of non-cash financing activities:
Accrued purchases of property and equipment	179,839	25,330	102,181	114,446
Accrued offering cost			480
Parent company \| Reportable legal entities
Cash flows from operating activities:
Net loss	(475,968)	(67,039)	(300,765)	(244,827)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	3	1	2
Loss from equity in earnings of subsidiaries	420,259	59,192	263,662	95,699
Share-based compensation	42,379	5,969	33,342	35,056
Fair value change of short-term investments	(12,500)	(1,761)
Foreign exchange loss (gain), net	12	2	(2)	2,324
Changes in operating assets and liabilities:
Prepayments and other current assets	(1,544)	(217)	(545)	(496)
Amounts due from related parties				(255)
Accrued expenses and other current liabilities	6,281	885	2,611	24,746
Net cash used in operating activities	(21,078)	(2,968)	(1,695)	(87,753)
Cash flows from investing activities:
Purchases of short-term investments	(742,287)	(104,552)
Maturity of short-term investments	176,302	24,832
Purchases of property and equipment			(10)
Investments in subsidiaries	(379,237)	(53,414)		(2,787,570)
Net cash used in investing activities	(945,222)	(133,134)	(10)	(2,787,570)
Cash flows from financing activities:
Cash contribution from shareholders in connection with the 2021 Reorganization	17,506	2,466		507,620
Proceeds from issuance of convertible loans				1,950,338
Proceeds from issuance of ordinary shares	1,225,470	172,604		453,978
Payment of offering costs	(22,828)	(3,215)
Proceeds from issuance of ordinary shares upon the exercise of share options	2,872	405
Collection of payments due to subsidiaries	14,024	1,975
Net cash provided by financing activities	1,237,044	174,235		2,911,936
Net increase (decrease) in cash and cash equivalents	270,744	38,133	(1,705)	36,613
Cash, cash equivalents and restricted cash, beginning of the year	35,411	4,988	36,160
Effect of foreign exchange rate changes on cash and cash equivalents	57,623	8,116	956	(453)
Cash, cash equivalents and restricted cash, end of the year	¥ 363,778	$ 51,237	35,411	36,160
Supplemental disclosure of non-cash financing activities:
Accrued purchases of property and equipment				¥ 1,950,338
Accrued offering cost			¥ 480

Loss per Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Loss per Share

21.	LOSS PER SHARE

For the purpose of calculating net loss per share, the number of shares used in the calculation reflects the outstanding shares of the Company as if the 2021 Reorganization as described in Note 1 took place at the earliest period presented.


	For the year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB
Numerator
Net loss	(244,827)	(300,765)	(475,968)
Deemed dividend	(2,211,330)	(446,419)	—
Net loss attributable to ordinary shareholders	(2,456,157)	(747,184)	(475,968)
Denominator
Weighted average number of ordinary shares outstanding-basic and diluted	104,987,478	115,534,593	124,783,013
Basic and diluted net loss per share attributable to ordinary shareholders	(23.39)	(6.47)	(3.81)

For the years ended December 31, 2021, 2022 and 2023, the following share options were excluded from the calculation of diluted net loss per ordinary share, as their inclusion would have been anti-dilutive for the period prescribed.


	For the year ended December 31,
	2021	2022	2023
	Number	Number	Number
Shares issuable upon exercise of share options	9,173,623	9,608,634	10,191,721
Shares issuable upon exercise of restricted share units	—	—	153,321
Shares issuable upon exercise of tandem award	—	60,000	60,000
Total	9,173,623	9,668,634	10,405,042

Loss per Share (Details) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥) ¥ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 CNY (¥) ¥ / shares shares	Dec. 31, 2021 CNY (¥) ¥ / shares shares
Numerator
Net loss	¥ (475,968)	$ (67,039)	¥ (300,765)	¥ (244,827)
Deemed dividend \| ¥			(446,419)	(2,211,330)
Net loss attributable to ordinary shareholders of the company	¥ (475,968)	$ (67,039)	¥ (747,184)	¥ (2,456,157)
Denominator
Weighted average number of ordinary shares outstanding, basic (in shares)	124,783,013	124,783,013	115,534,593	104,987,478
Weighted average number of ordinary shares outstanding, diluted (in shares)	124,783,013	124,783,013	115,534,593	104,987,478
Net loss per share, basic (amounts per share) \| (per share)	¥ (3.81)	$ (0.54)	¥ (6.47)	¥ (23.39)
Diluted (amounts per share) \| (per share)	¥ (3.81)	$ (0.54)	¥ (6.47)	¥ (23.39)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-10

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 16: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-52

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-7

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-52

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-7

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 13: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-10

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483581/946-220-45-7

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 32: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-7

Reference 35: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482740/230-10-45-28

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 6.B)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-5

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-10

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-11

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

+ Details

Intangible Assets, Net - Expected amortization expenses (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2024	¥ 11,678
2025	10,416
2026	9,866
2027	9,866
2028 and years after	36,904
Total	¥ 78,730	¥ 20,600

Net Revenues (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
Net Revenues (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Disaggregation of Revenue
Net revenues	¥ 1,876,989	$ 264,368	¥ 1,202,670	¥ 720,768
Revenue from LiDAR products
Disaggregation of Revenue
Net revenues	1,735,254		1,122,237	685,333
Revenue from gas detection products
Disaggregation of Revenue
Net revenues	26,863		23,967	19,533
Other revenues
Disaggregation of Revenue
Net revenues	2,773		5,663	1,200
Engineering design, development and validation service and solution revenue
Disaggregation of Revenue
Net revenues	100,493		43,101	14,026
Other service revenues
Disaggregation of Revenue
Net revenues	¥ 11,606		¥ 7,702	¥ 676

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Notes Payable

12 Months Ended

Dec. 31, 2023

Notes Payable, Noncurrent [Abstract]

Notes Payable

11.NOTES PAYABLE

The Group issued short-term note payables to settle part of the payments for the construction of new research and development and intelligent manufacturing center in Shanghai, PRC. As of December 31, 2022 and 2023, the remaining balance was nil and RMB7,255, respectively.

Additional Information of the Parent Company - Condensed Statements of Operations and Comprehensive Loss - Additional (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Condensed Statement of Income Captions [Line Items]
Other comprehensive income (loss), tax	¥ 0	¥ 0	¥ 0
Parent company
Condensed Statement of Income Captions [Line Items]
Other comprehensive income (loss), tax	¥ 0

Combined and Consolidated Statements of Cash Flows (Parenthetical) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Statement of Cash Flows [Abstract]
Cash outflow from acquisition of subsidiary, net of cash acquired	¥ 571	¥ 571	¥ 571
Net of capitalized amount	4,433	11	0
Cash and cash equivalents	1,554,583	913,277	449,352
Restricted cash	3,541	0
Cash, cash equivalents and restricted cash	¥ 1,558,124	¥ 913,277	¥ 449,352

Statutory Reserves and Restricted Net Assets - (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Restrictions for Consolidated and Unconsolidated Subsidiaries [Abstract]
Required minimum percentage of annual appropriations	10.00%
Statutory threshold percentage of the reserve fund to the registered capital of the respective company, above which the appropriation is not required	50.00%
Statutory reserves	¥ 0	¥ 0
Restricted net assets	¥ 3,121,808,000

Net Revenues - Revenues disaggregated by geographic location (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Disaggregation of Revenue
Net revenues	¥ 1,876,989	$ 264,368	¥ 1,202,670	¥ 720,768
Revenue recognized at a point of time
Disaggregation of Revenue
Net revenues	1,783,803		1,175,758	706,066
Revenue recognized over time
Disaggregation of Revenue
Net revenues	93,186		26,912	14,702
Mainland China
Disaggregation of Revenue
Net revenues	991,912		697,294	269,634
North America
Disaggregation of Revenue
Net revenues	748,147		358,549	352,981
Europe
Disaggregation of Revenue
Net revenues	70,500		86,153	67,912
Other regions
Disaggregation of Revenue
Net revenues	¥ 66,430		¥ 60,674	¥ 30,241

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

+ References

+ Details

Income Taxes (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
Income Taxes (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax [Line Items]
Enterprise income tax	(0.14%)	(0.02%)	0.45%
Retained earnings	¥ 0	¥ 0	¥ 0
United States
Income Tax [Line Items]
Applicable income tax rate	27.98%	27.98%	27.98%
PRC
Income Tax [Line Items]
Enterprise income tax	25.00%
Preferential tax rate	15.00%	15.00%	15.00%
HNTE status review period	3 years
Percentage of tax deductible expenses engaged in R&D activities			200.00%
Percentage of withholding tax on foreign investors, non-resident enterprises	10.00%

Share-Based Compensation - Option awards to new incentive recipients (Details)	12 Months Ended
	Dec. 31, 2023 shares
Share-Based Compensation Arrangement by Share-Based Payment Award
Number of options granted	2,422,714
Employee share options \| Employees
Share-Based Compensation Arrangement by Share-Based Payment Award
Number of options granted	2,422,714
Employee share options \| Employees \| On 2069592 Share Options
Share-Based Compensation Arrangement by Share-Based Payment Award
Number of options granted	2,069,592
Vesting percentage	25.00%
Employee share options \| Employees \| On 2833 Share Options \| Options vesting on first, second and third anniversaries of vesting
Share-Based Compensation Arrangement by Share-Based Payment Award
Number of options granted	2,833
Vesting percentage	33.00%
Employee share options \| Employees \| On 195881 Share Options \| Vesting on each calendar month through 48th month
Share-Based Compensation Arrangement by Share-Based Payment Award
Number of options granted	195,881
Vesting percentage	0.0208%
Employee share options \| Employees \| On 154408 Share Options \| Options vesting on vesting commencement date and first, second and third anniversaries of the vesting commencement date
Share-Based Compensation Arrangement by Share-Based Payment Award
Number of options granted	154,408
Employee share options \| Employees \| On 154408 Share Options \| Options vesting on vesting commencement date
Share-Based Compensation Arrangement by Share-Based Payment Award
Vesting percentage	25.00%
Employee share options \| Employees \| On 154408 Share Options \| Options vesting on first, second and third anniversaries of the vesting commencement date
Share-Based Compensation Arrangement by Share-Based Payment Award
Vesting percentage	25.00%

Additional Information of the Parent Company - Condensed Balance Sheets (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Assets
Cash and cash equivalents	¥ 1,554,583	$ 218,958	¥ 913,277	¥ 449,352
Short-term investments	1,586,005	223,384	945,865
Prepayments and other current assets	208,082	29,308	126,452
Property and equipment, net	871,611	122,764	504,953
TOTAL ASSETS	5,662,543	797,553	3,839,396
Liabilities, Mezzanine Equity and Shareholders' (Deficit) Equity
Accrued expenses and other current liabilities	498,324	70,188	356,502
TOTAL LIABILITIES	1,800,225	253,557	997,663
Mezzanine Equity:
Redeemable shares (US$0.0001 par value, 54,551,513 and nil shares issued and outstanding as of December 31, 2022 and December 31, 2023, respectively)	0	0	5,986,910
Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]
Additional paid-in capital	7,423,862	1,045,629	0
Subscription receivables	(292,721)	(41,229)	(310,227)
Accumulated other comprehensive (loss) income	38,440	5,414	(3,608)
Accumulated deficit	(3,307,349)	(465,830)	(2,831,381)
Total shareholders' (deficit) equity	3,862,318	543,996	(3,145,177)	¥ (2,490,670)	¥ 1,137,193
Total Liabilities, Mezzanine Equity and Shareholders' (Deficit) Equity	5,662,543	797,553	3,839,396
Class A
Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]
Ordinary shares	19	3	19
Class B
Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]
Ordinary shares	67	9	20
Parent company \| Reportable legal entities
Assets
Cash and cash equivalents	363,778	51,237	35,411
Short-term investments	581,962	81,968
Prepayments and other current assets	8,005	1,127	1,041
Investments in subsidiaries	2,929,800	412,653	2,806,201
Property and equipment, net	5	1	7
TOTAL ASSETS	3,883,550	546,986	2,842,660
Liabilities, Mezzanine Equity and Shareholders' (Deficit) Equity
Amounts due to subsidiaries	¥ 14,024	$ 1,975
Other Liability, Related Party, Type [Extensible Enumeration]	srt:SubsidiariesMember	srt:SubsidiariesMember
Accrued expenses and other current liabilities	¥ 7,208	$ 1,015	927
TOTAL LIABILITIES	21,232	2,990	927
Mezzanine Equity:
Redeemable shares (US$0.0001 par value, 54,551,513 and nil shares issued and outstanding as of December 31, 2022 and December 31, 2023, respectively)			5,986,910
Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]
Additional paid-in capital	7,423,862	1,045,629
Subscription receivables	(292,721)	(41,229)	(310,227)
Accumulated other comprehensive (loss) income	38,440	5,414	(3,608)
Accumulated deficit	(3,307,349)	(465,830)	(2,831,381)
Total shareholders' (deficit) equity	3,862,318	543,996	(3,145,177)
Total Liabilities, Mezzanine Equity and Shareholders' (Deficit) Equity	3,883,550	546,986	2,842,660
Parent company \| Reportable legal entities \| Class A
Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]
Ordinary shares	19	3	19
Parent company \| Reportable legal entities \| Class B
Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]
Ordinary shares	¥ 67	$ 9	¥ 20

Intangible Assets, Net

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

7.	INTANGIBLE ASSETS, NET

Intangible assets, as of December 31, 2022 and 2023 are as follows:


	As of December 31,
	2022	2023
	RMB	RMB
Software	30,095	38,143
Technology	8,390	65,235
Total cost	38,485	103,378
Less: Accumulated amortization	(17,885)	(24,648)
Intangible assets, net	20,600	78,730

Amortization expenses related to intangible assets were RMB6,326, RMB7,914 and RMB7,704 for the years ended December 31, 2021, 2022 and 2023, respectively.

On December 15, 2023, the Group acquired a Swiss company, which designed image sensors for spatial awareness for industrial and automotive applications. In connection with this acquisition, the Group acquired patent rights to certain technologies valued of RMB59,351 with an amortization period of 8 years.

7.INTANGIBLE ASSETS, NET (continued)

The estimated amortization expenses for each of the five succeeding fiscal years and thereafter are as follows:


		Years ended
		December 31,
		RMB
2024		11,678
2025		10,416
2026		9,866
2027		9,866
2028 and years after		36,904
Total		78,730

Share-Based Compensation - Restricted share units ("RSUs") (Details) - CNY (¥) ¥ / shares in Units, ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numbers of RSUs
Vested and expected to vest at ending	10,191,721
Weighted-Average Grant Date Fair Value Per Share
Vested and expect to vest	¥ 16.07
Compensation expenses to options granted	¥ 234,624	¥ 105,219	¥ 54,283
Share-based compensation expenses related to share options without IPO condition	228,312	¥ 104,750	¥ 54,283
Unrecognized share-based compensation expense	¥ 291,247
Unrecognized stock compensation expense, expected to be recognized over a weighted-average period	2 years 4 months 6 days
Restricted share units ("RSUs")
Share-Based Compensation Arrangement by Share-Based Payment Award
Number of awards granted	189,012
Numbers of RSUs
Number of awards granted	189,012
Exercised	35,691
Outstanding at the end	153,321
Vested and expected to vest at ending	153,321
Weighted-Average Grant Date Fair Value Per Share
Granted (in dollars per share)	¥ 76.52
Outstanding at the end (in dollars per share)	76.06
Vested and expect to vest	¥ 76.06
Total intrinsic value of share units exercised	¥ 2,252
Compensation expenses to options granted	5,646
Unrecognized share-based compensation expense	¥ 8,816
Unrecognized stock compensation expense, expected to be recognized over a weighted-average period	2 years 5 months 19 days
Restricted share units ("RSUs") \| On 55,775 restricted share awards
Share-Based Compensation Arrangement by Share-Based Payment Award
Number of awards granted	54,775
Vesting percentage	50.00%
Numbers of RSUs
Number of awards granted	54,775
Restricted share units ("RSUs") \| On 55,775 restricted share awards \| Vested at the latter of the first anniversary
Share-Based Compensation Arrangement by Share-Based Payment Award
Vesting percentage	50.00%
Restricted share units ("RSUs") \| On 55,775 restricted share awards \| Remaining vested at each of the 12 months from the First Vesting Date
Share-Based Compensation Arrangement by Share-Based Payment Award
Vesting percentage	50.00%
Restricted share units ("RSUs") \| On 120,143 restricted share awards
Share-Based Compensation Arrangement by Share-Based Payment Award
Number of awards granted	120,143
Vesting percentage	25.00%
Numbers of RSUs
Number of awards granted	120,143
Restricted share units ("RSUs") \| On 14,094 restricted share awards
Share-Based Compensation Arrangement by Share-Based Payment Award
Number of awards granted	14,094
Vesting percentage	0.125%
Numbers of RSUs
Number of awards granted	14,094

Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

14.

LEASES

The Group has operating leases for offices and factories. The Group recognized ROU assets of RMB44,349 and RMB151,871 and corresponding current liabilities of RMB34,975 and RMB34,993 in accrued expenses and other current liabilities, and long-term operating lease liabilities of RMB10,139 and RMB119,413, as of December 31, 2022 and 2023, respectively. The weighted average remaining lease term was approximately 5.48 years as of December 31, 2023, and the weighted average discount rate were 4.25% and 2.85% for the years ended December 31, 2022 and 2023, respectively.

For the years ended December 31, 2021, 2022 and 2023, Operating lease expenses were RMB21,792, RMB34,596 and RMB37,878 (including RMB2,136 for short-term leases not capitalized as ROU assets), respectively.

14.LEASES (continued)

The maturities of lease liabilities in accordance with Leases (ASC 842) as of December 31, 2022 and December 31, 2023 were as follows:


	As of	As of
	December 31, 2022	December 31, 2023
	RMB	RMB
2023	36,025	—
2024	7,145	38,305
2025	3,282	25,951
2026	—	24,672
2027	—	24,877
2028	—	27,139
2029	—	24,877
Total lease payment	46,452	165,821
Less: imputed interest	(1,338)	(11,415)
Present value of minimum operating lease payments	45,114	154,406
Less: Current operating lease liabilities	(34,975)	(34,993)
Long-term operating lease liabilities	10,139	119,413

Cash paid for amounts included in the measurement of operating lease liabilities for the years ended December 31, 2022 and 2023 were RMB28,136 and RMB35,982, respectively. Right-of-use assets obtained in exchange for the operating lease liabilities in non-cash transactions for the years ended December 31, 2022 and 2023 were RMB37,414 and RMB133,661, respectively.

Organization and Nature of Operations (Details) ¥ in Thousands, $ in Thousands	1 Months Ended				12 Months Ended
	Mar. 31, 2023 CNY (¥) shares	Mar. 31, 2023 USD ($) shares	Feb. 28, 2023 CNY (¥) shares	Feb. 28, 2023 USD ($) shares	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Jun. 30, 2021 shares	May 31, 2021 shares
Schedule Of Organization And Nature Of Operations [Line Items]
Cash distribution to shareholders of Shanghai Hesai in connection with the 2021 Reorganization					¥ 17,506	$ 2,466	¥ 507,620
Subscription receivables					292,721			$ 41,229	¥ 310,227
Capital gain tax payments on behalf of certain shareholders \| ¥					82,347
Class B
Schedule Of Organization And Nature Of Operations [Line Items]
Number of shares issued \| shares	10,125,118	10,125,118	10,125,118	10,125,118
IPO \| Class B
Schedule Of Organization And Nature Of Operations [Line Items]
Number of shares issued \| shares	10,125,118	10,125,118	10,125,118	10,125,118
Net proceeds from IPO	¥ 1,225,470	$ 179,786	¥ 1,225,470	$ 179,786
Shanghai Hesai
Schedule Of Organization And Nature Of Operations [Line Items]
Settlement through cash redemption \| ¥							817,847
Cash distribution to shareholders of Shanghai Hesai in connection with the 2021 Reorganization \| ¥					¥ 17,506		507,620
Subscription receivables \| ¥							¥ 292,721
Shanghai Hesai \| Founding shareholders
Schedule Of Organization And Nature Of Operations [Line Items]
Percentage of equity interest acquired										100.00%
Shanghai Hesai \| Founding shareholders \| Class A
Schedule Of Organization And Nature Of Operations [Line Items]
Number of shares subscribed \| shares										30,033,379	30,033,379
Shanghai Hesai \| Existing investors \| Class B
Schedule Of Organization And Nature Of Operations [Line Items]
Number of shares subscribed \| shares										62,834,548	62,834,548

Prepayments and Other Current Assets (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)
Prepaid Expense and Other Assets [Abstract]
Advances to suppliers	¥ 120,556		¥ 82,419
Deposits	22,042		11,998
Prepaid expenses	16,372		10,108
Value-added tax recoverable	21,888		6,748
Others	27,224		15,179
Total	¥ 208,082	$ 29,308	¥ 126,452

Additional Information of the Parent Company - Condensed Balance Sheets - Additional (Details) - $ / shares	Dec. 31, 2023	Feb. 09, 2023	Dec. 31, 2022
Condensed Balance Sheet Statements, Captions [Line Items]
Redeemable shares, par value (in dollars per share)	$ 0.0001		$ 0.0001
Redeemable shares, issued	54,551,513		54,551,513
Redeemable shares, outstanding	0		0
Class A
Condensed Balance Sheet Statements, Captions [Line Items]
Ordinary shares, par value (in dollars per share)	$ 0.0001		$ 0.0001
Ordinary shares, authorized	50,000,000		35,000,000
Ordinary shares, issued	30,033,379		30,033,379
Ordinary shares, outstanding	30,033,379		30,033,379
Class B
Condensed Balance Sheet Statements, Captions [Line Items]
Redeemable shares, outstanding		54,551,513
Ordinary shares, par value (in dollars per share)	$ 0.0001		$ 0.0001
Ordinary shares, authorized	900,000,000		150,000,000
Ordinary shares, issued	99,626,332		30,949,701
Ordinary shares, outstanding	96,995,110		30,949,701
Parent company \| Reportable legal entities
Condensed Balance Sheet Statements, Captions [Line Items]
Redeemable shares, par value (in dollars per share)	$ 0.0001		$ 0.0001
Redeemable shares, issued	0		54,551,513
Redeemable shares, outstanding	0		54,551,513
Parent company \| Reportable legal entities \| Class A
Condensed Balance Sheet Statements, Captions [Line Items]
Ordinary shares, par value (in dollars per share)	$ 0.0001		$ 0.0001
Ordinary shares, authorized	50,000,000		35,000,000
Ordinary shares, issued	30,033,379		30,033,379
Ordinary shares, outstanding	30,033,379		30,033,379
Parent company \| Reportable legal entities \| Class B
Condensed Balance Sheet Statements, Captions [Line Items]
Ordinary shares, par value (in dollars per share)	$ 0.0001		$ 0.0001
Ordinary shares, authorized	900,000,000		150,000,000
Ordinary shares, issued	99,626,332		30,949,701
Ordinary shares, outstanding	96,995,110		30,949,701

Accrued Expenses and Other Current Liabilities (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021
Payables and Accruals [Abstract]
Salaries and welfare payables	¥ 195,014		¥ 166,923
Payables for purchase of property and equipment	179,839		102,181
Accrued expenses	65,159		41,558
Current portion of operating lease liabilities	¥ 34,993		¥ 34,975
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total	Total	Total	Total
VAT and other tax payables	¥ 19,847		¥ 5,903
Advances from employees	3,472		4,962
Total	¥ 498,324	$ 70,188	¥ 356,502

Accounts Receivable, Net

12 Months Ended

Dec. 31, 2023

Accounts Receivable, after Allowance for Credit Loss [Abstract]

Accounts Receivable, Net

3.	ACCOUNTS RECEIVABLE, NET

Accounts receivable and expected credit losses as of December 31, 2022 and 2023 are as follows:


	As of December 31,
	2022	2023
	RMB	RMB
Accounts receivable	491,293	573,950
Less: allowance for expected credit losses	(6,249)	(49,132)
Total accounts receivable, net	485,044	524,818

The roll-forward of the allowance for credit losses related to accounts receivable for the years ended December 31, 2022 and 2023 consists of the following activity:


	For the Year ended December 31,
	2022	2023
	RMB	RMB
Balance at beginning of year	7,294	6,249
(Reversal) provision for expected credit losses	(1,045)	42,883
Balance at end of year	6,249	49,132

Other Non-Current Assets (Tables)

12 Months Ended

Dec. 31, 2023

Other Assets, Noncurrent [Abstract]

Schedule of other non-current assets


	As of December 31,
	2022	2023
	RMB	RMB
Prepayments for purchase of property and equipment	46,083	77,596
Demonstration fleet	4,936	3,819
Long-term deposits	3,836	8,612
Others	2,243	141
Other non-current assets	57,098	90,168

Summary of Significant Accounting Policies - Fair value measurements (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short term investments	¥ 30,158	¥ 52,252	¥ 26,351
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	¥ 857,924	¥ 945,865

Property and Equipment, Net (Details) ¥ in Thousands, $ in Thousands, ฿ in Millions	1 Months Ended		12 Months Ended
	Sep. 30, 2023 THB (฿) m²	Sep. 30, 2023 CNY (¥) m²	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2023 USD ($)
Property, Plant and Equipment [Line Items]
Cost			¥ 491,685		¥ 324,534
Less: Accumulated depreciation			(154,473)		(84,329)
Total			871,611		504,953		$ 122,764
Depreciation expenses			77,701		44,856	¥ 21,187
Purchases of property and equipment			406,748	$ 57,289	231,210	¥ 220,096
Land
Property, Plant and Equipment [Line Items]
Cost			39,312
Purchases of property and equipment	฿ 189.4	¥ 39,312
Area of land \| m²	25,686	25,686
Electronic equipment
Property, Plant and Equipment [Line Items]
Cost			114,237		79,663
Leasehold improvements
Property, Plant and Equipment [Line Items]
Cost			67,677		63,995
Machinery and equipment
Property, Plant and Equipment [Line Items]
Cost			186,890		121,614
Furniture and fixture
Property, Plant and Equipment [Line Items]
Cost			78,169		54,851
Transportation vehicles
Property, Plant and Equipment [Line Items]
Cost			5,400		4,411
Property and equipment, net
Property, Plant and Equipment [Line Items]
Total			337,212		240,205
Construction in progress
Property, Plant and Equipment [Line Items]
Total			¥ 534,399		¥ 264,748

Ordinary Shares (Details)		1 Months Ended			3 Months Ended	12 Months Ended
Ordinary Shares (Details)	Feb. 09, 2023 shares	Aug. 31, 2023 shares	Mar. 31, 2023 shares	Feb. 28, 2023 shares	Jun. 30, 2021 shares	Dec. 31, 2023 Vote shares
Class of Stock
Number of shares issued but not outstanding						2,631,222
Class A
Class of Stock
Number of votes per share \| Vote						10
Class B
Class of Stock
Number of votes per share \| Vote						1
Number of shares reclassified from permanent to mezzanine equity	54,551,513		54,551,513	54,551,513	54,551,513
Number of shares issued			10,125,118	10,125,118
Number of shares issued on exercise of options		4,000,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 272
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483014/272-10-45-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 272
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482987/272-10-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

+ Details

Segment - Reportable segments (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Segment Reporting Information [Line Items]
Total profit	¥ 661,378	$ 93,153	¥ 471,987	¥ 381,796
Sales and marketing expenses	(148,798)	(20,958)	(104,835)	(69,266)
General and administrative expenses	(320,144)	(45,091)	(201,007)	(236,713)
Research and development expenses	(790,547)	(111,346)	(555,179)	(368,435)
Other operating income, net	26,520	3,735	10,817	27,333
Interest income	99,813	14,058	58,734	32,584
Interest expenses	(3,069)	(432)
Foreign exchange (loss) gain	(452)	(64)	20,858	(13,275)
Other (loss) income, net	34	5	(2,161)	118
Net loss before income tax and share of loss in equity method investments	(475,265)	$ (66,940)	(300,786)	(245,858)
Reportable segments
Segment Reporting Information [Line Items]
Total profit	661,378		471,987	381,796
Sales and marketing expenses	(148,798)		(104,835)	(69,266)
General and administrative expenses	(320,144)		(201,007)	(236,713)
Research and development expenses	(790,547)		(555,179)	(368,435)
Other operating income, net	26,520		10,817	27,333
Interest income	99,813		58,734	32,584
Interest expenses	(3,069)
Foreign exchange (loss) gain	(452)		20,858	(13,275)
Other (loss) income, net	34		(2,161)	118
Net loss before income tax and share of loss in equity method investments	¥ (475,265)		¥ (300,786)	¥ (245,858)

Accounts Receivable, Net (Tables)

12 Months Ended

Dec. 31, 2023

Accounts Receivable, after Allowance for Credit Loss [Abstract]

Schedule of accounts receivable and expected credit losses


	As of December 31,
	2022	2023
	RMB	RMB
Accounts receivable	491,293	573,950
Less: allowance for expected credit losses	(6,249)	(49,132)
Total accounts receivable, net	485,044	524,818

Schedule of allowance for credit losses related to accounts receivable


	For the Year ended December 31,
	2022	2023
	RMB	RMB
Balance at beginning of year	7,294	6,249
(Reversal) provision for expected credit losses	(1,045)	42,883
Balance at end of year	6,249	49,132

Accrued Expenses and Other Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

Schedule of accrued expenses and other current liabilities


	As of December 31,
	2022	2023
	RMB	RMB
Salaries and welfare payables	166,923	195,014
Payables for purchase of property and equipment	102,181	179,839
Accrued expenses	41,558	65,159
Current portion of operating lease liabilities	34,975	34,993
VAT and other tax payables	5,903	19,847
Advances from employees	4,962	3,472
Total	356,502	498,324

Related Party Transactions

12 Months Ended

Dec. 31, 2023

Related Party Transactions

20.	RELATED PARTY TRANSACTIONS

Major related parties that transacted with the Group and their respective relationship to the Group listed as below:


Name of the related parties		Relationship
Mr. Kai Sun		Founding Shareholders
Mr. Yifan Li		Founding Shareholders
Mr. Shaoqing Xiang		Founding Shareholders
Mr. Minglie Hu		Shareholder
Mr. Min Ai		Shareholder
Shanghai Leyi Technology L.P.		An affiliate of the shareholder of the Group
Baidu USA LLC (Note)		An affiliate of the shareholder of the Group
Beijing Baidu Netcom Technology Co., Ltd.		An affiliate of the shareholder of the Group
Apollo Intelligent Transportation Technology (Guangzhou) Co., Ltd.		An affiliate of the shareholder of the Group
Baidu Smart Travel Information Technology (Chongqing) Co., Ltd.		An affiliate of the shareholder of the Group
Apollo Intelligent Transportation Technology (Hefei) Co., Ltd.		An affiliate of the shareholder of the Group
Luobo Yunli (Beijing) Technology Co., Ltd.		An affiliate of the shareholder of the Group
Apollo Intelligent Transportation Technology (Dalian) Co., Ltd.		An affiliate of the shareholder of the Group
Apollo Intelligent Technology (Beijing) Co., Ltd.		An affiliate of the shareholder of the Group
Apollo Intelligent Connection (Beijing) Co., Ltd.		An affiliate of the shareholder of the Group

20.	RELATED PARTY TRANSACTIONS (continued)

Note: Started from June 30, 2021, Baidu (China) Co., Ltd and its affiliates (collectively as “Baidu”) was no longer treated as the Group’s related parties as Baidu no longer has significant influence over the Group after the consummation of 2021 Reorganization.

For the years ended December 31, 2021, 2022 and 2023, significant related party transactions were as follows:


	For year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB
Net revenues
Affiliates of the shareholders of the Group	15,655	—	—
Total	15,655	—	—


	For year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB
Payment for equity acquisition consideration
Founding Shareholders and certain shareholders	—	—	17,506
Total	—	—	17,506


	For year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB
Subscription consideration received from shareholders
Founding Shareholders and certain shareholders	—	—	17,506
Total	—	—	17,506

The balances due to related parties of financing are as follows:


	As of December 31,
	2021	2022	2023
	RMB	RMB	RMB
Amounts due to related parties, net of allowance
Founding Shareholders and certain shareholders	307,498	334,283	326,028
An affiliate of the shareholder of the Group	—	—	14,023
Total	307,498	334,283	340,051

20.RELATED PARTY TRANSACTIONS (continued)

In May 2021, as an integrated step of the 2021 Reorganization, in order to comply with certain PRC foreign currency control rules and regulations, the Founding Shareholders and certain investors are in the process of applying for permissions to pay the subscription consideration to the Company. Once they obtained the approval to pay the subscription receivables at Cayman Company level, the Group will then settle the consideration payable for the acquisition of their equity interests in Shanghai Hesai to facilitate their payment of the subscription receivable for the ordinary shares of the Company as part of the reorganization. In December 2023, the Group settled the consideration payable of RMB17,506 to one shareholder, and subscription receivable of this shareholder of RMB17,506 was received at Cayman Company level.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

Income Taxes - Deferred tax assets and deferred tax liabilities (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets
Net operating loss carry forwards	¥ 705,249	¥ 373,215
Deductible temporary differences	72,625	31,348
Deferred revenue	19,620	6,294
Less: valuation allowance	¥ (797,494)	(410,857)	¥ (241,485)	¥ (136,269)
Deferred tax liabilities
Identifiable intangible assets from business combination.		439
Total deferred tax liabilities		¥ 439

Redeemable Shares

12 Months Ended

Dec. 31, 2023

Redeemable Shares [Abstract]

Redeemable Shares

15.	REDEEMABLE SHARES

Since its establishment, Hesai Photonics has received several rounds of equity financing in the form of Series A+/B/B+/C-1/C-2/C-3 redeemable equity from external investors from March 2017 to July 2019. On August 1, 2020, in conjunction with the conversion of Hesai Photonics into a joint stock company Shanghai Hesai, all the outstanding redeemable equity was converted into ordinary shares of Shanghai Hesai at no consideration, all in the same proportion as the percentage of equity interest they held in Hesai Photonics. In the second quarter of 2021, the Group signed agreements (the “Side Letters”) with its external shareholders holding 54,551,513 Class B ordinary shares, whereby the Group has agreed to provide an option for these shareholders to re-designate their ordinary shares to preferred shares in the event that the Company fails to complete an overseas IPO within twelve months following the dates of the agreements. Among all the preferred rights associated with the shares, the agreements provide the investors with the right to redeem if a Qualified-IPO has not been consummated by December 31, 2022. The redemption price of the redeemable shares shall be the issue price plus a compound interest rate of 8% per annum for each year such redeemable shares was outstanding, calculated from the date of payment of consideration for subscription through the date of redemption thereof (and calculated on a pro rata basis in case of a partial year) plus all declared but unpaid dividends thereon up to the date of actual payment of such redemption price, proportionally adjusted for share subdivisions, share dividends, reorganizations, reclassifications, consolidations or mergers. The redemption right is exercised in the sequence of Series D, Series C+, Series C-1/C-2/C-3, Series B+, Series B, and Series A+ redeemable shares.

15.REDEEMABLE SHARES (continued)

The Company has accounted for these agreements as material amendments such that extinguishment accounting is applied to these shares at the agreement dates. Given these shares are redeemable upon an event not solely within the control of the Company, the Company has reclassified the 54,551,513 Class B ordinary shares from permanent equity to mezzanine equity at their current fair values and the difference is recorded as deemed dividend in the amount of RMB2,131,572, by charging against retained earnings, or in the absence of retained earnings, by charges against additional paid-in capital. Once additional paid-in-capital has been exhausted, additional charges are recorded by increasing the accumulated deficit. Except for Series D shares, all of the other series shares have carrying value higher than their respective redemption value, as such, no accretion to redemption value is recorded. For Series D shares, the change in redemption value is RMB79,758 and RMB446,419, which are recorded as deemed dividends for the years ended December 31, 2021 and 2022, respectively.

Upon the completion of the Company’s IPO in United States on February 9, 2023, 54,551,513 redeemable shares were reclassified into 54,551,513 Class B ordinary shares on a one-on-one basis in accordance with the terms stipulated by the Side Letters.

Borrowings

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Borrowings

12.BORROWINGS

The short-term and long-term borrowings as of December 31, 2022 and 2023 were as follows:


	As of December 31,
	2022	2023
	RMB	RMB
Short-term borrowings:
Short-term bank borrowings	—	109,900
Long-term bank borrowings, current portion	—	1,782
Total	—	111,682
Long-term borrowings:
Long-term bank borrowings	18,472	285,898

Short-term bank borrowings

In November 2022 and December 2023, the Group entered into two short-term bank credit facility agreements for up to RMB300,000 and RMB500,000 with an annual interest rate of China’s one-year loan prime rate (“LPR”) minus 80 bps, respectively. The facility of RMB300,000 was expired on November 23, 2023, and the facility of RMB500,000 will expire on December 12, 2024. During the year ended December 31, 2023, the Group drew down RMB109,900 under the credit facility of RMB 300,000 with an annual interest rate of 2.85% and a maturity date of January 16, 2024. The Group has RMB500,000 unused short-term bank facility as of December 31, 2023.

Long-term bank borrowings

In November 2022, Shanghai Hesai entered into a two-year facility of RMB700,000 with an annual interest rate of China’s LPR minus 100 bps. The facility will expire on December 4, 2024. The usage of credit facility is restricted to the purchasing of property and equipment for the production facility under construction in Jiading, Shanghai. The credit facility is secured by Shanghai Hesai’s land-use rights, ongoing and completed constructions of the new manufacturing facility with a total book value of RMB561,201 as of December 31, 2023. Shanghai Hesai drew down long-term borrowings amounting to RMB18,472 and RMB261,345 as of December 31, 2022 and 2023, respectively. The interest rate for the borrowings in 2022 was 2.45% per annum, the interest rate range for the borrowings in 2023 was from 2.45% to 2.65% per annum. The maturity dates ranged from June 4, 2025 to December 3, 2027.

In October 2023, Zhejiang Hertz entered into a one-year facility of RMB110,000 with an annual interest rate of China’s LPR minus 60 bps. The facility will expire on October 17, 2024. The usage of credit facility is restricted to the purchasing of property and equipment for Hertz factory in Hangzhou, Zhejiang, the borrowing was guaranteed by Shanghai Hesai. As of December 31, 2023, Zhejiang Hertz drew down long-term borrowings amounting to RMB5,347, of which RMB1,782 will be repaid within one year and had been reclassified to short-term borrowings. The interest rate was 2.85% per annum. The maturity dates of the remaining long - term portion ranged from April 17, 2025 to October 17, 2026.

In December 2023, the Group acquired a Swiss company and assumed the long-term borrowings of CHF299 (equivalent to RMB2,516) the company borrowed in 2020, which will mature in 2030.

12.BORROWINGS (continued)

Long-term bank borrowings - continued

The Group has RMB524,836 unused bank facilities in connection to borrowings for the purpose of purchasing property and equipment as of December 31, 2023.

The principal maturities of the long-term borrowings as of December 31, 2022 and 2023 are as follows:


	As of	As of
	December 31,	December 31,
	2022	2023
	RMB	RMB

2025	5,542	85,728
2026	5,542	85,728
2027	7,388	111,926
2028 and after	—	2,516
Total	18,472	285,898

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Accounts Receivable, Net (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Accounts receivable	¥ 573,950		¥ 491,293
Less: allowance for expected credit losses	(49,132)		(6,249)
Total accounts receivable, net	¥ 524,818	$ 73,919	¥ 485,044	¥ 85,821	¥ 56,319

Inventories

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Inventories

4.	INVENTORIES


	As of December 31,
	2022	2023
	RMB	RMB
Raw materials	290,121	126,347
Work-in-process	180,367	199,153
Finished goods	176,364	170,377
Inventories	646,852	495,877

Inventory write-off were RMB16,600, RMB39,431 and RMB9,290, respectively, for the years ended December 31, 2021, 2022 and 2023.

Borrowings - Short-term and long-term borrowings (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)
Short-Term Debt [Abstract]
Short-term bank borrowings	¥ 109,900
Long-term bank borrowings, current portion	1,782
Total	111,682	$ 15,730	¥ 0
Long-Term Debt, Unclassified [Abstract]
Long-term bank borrowings	¥ 285,898	$ 40,268	¥ 18,472

Intangible Assets, Net (Details) - CNY (¥) ¥ in Thousands		12 Months Ended
Intangible Assets, Net (Details) - CNY (¥) ¥ in Thousands	Dec. 15, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Total cost		¥ 103,378	¥ 38,485
Less: Accumulated amortization		(24,648)	(17,885)
Total		78,730	20,600
Amortization expenses		7,704	7,914	¥ 6,326
Software
Finite-Lived Intangible Assets [Line Items]
Total cost		38,143	30,095
Technology
Finite-Lived Intangible Assets [Line Items]
Total cost		¥ 65,235	¥ 8,390
Patents
Finite-Lived Intangible Assets [Line Items]
Group acquired patent rights	¥ 59,351
Amortization period	8 years

Long-Term Investments (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Jul. 31, 2022
Schedule of Equity Method Investments [Line Items]
Long-term investments	¥ 31,811	¥ 31,856
Investment in equity securities without readily determinable fair value	0	0	¥ 30,000
Investments in equity securities
Schedule of Equity Method Investments [Line Items]
Long-term investments	30,000	30,000
Investments in equity method investee
Schedule of Equity Method Investments [Line Items]
Long-term investments	¥ 1,811	¥ 1,856

Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of intangible assets over the respective useful lives


	As of December 31,
	2022	2023
	RMB	RMB
Software	30,095	38,143
Technology	8,390	65,235
Total cost	38,485	103,378
Less: Accumulated amortization	(17,885)	(24,648)
Intangible assets, net	20,600	78,730

Schedule of estimated amortization expenses


		Years ended
		December 31,
		RMB
2024		11,678
2025		10,416
2026		9,866
2027		9,866
2028 and years after		36,904
Total		78,730

Additional Information of the Parent Company - Condensed Statements of Operations and Comprehensive Loss (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Condensed Statement of Income Captions [Line Items]
Net revenues	¥ 1,876,989	$ 264,368	¥ 1,202,670	¥ 720,768
General and administrative expenses	(320,144)	(45,091)	(201,007)	(236,713)
Interest income	99,813	14,058	58,734	32,584
Foreign exchange (loss) gain	(452)	(64)	20,858	(13,275)
Other income, net	34	5	(2,161)	118
Equity in deficit of subsidiaries	(45)	(6)	(45)	(84)
Net Loss	(475,968)	(67,039)	(300,765)	(244,827)
Net loss attributable to ordinary shareholders of the company	(475,968)	(67,039)	(747,184)	(2,456,157)
Comprehensive income (loss), net of tax of nil:
Foreign currency translation adjustments	42,048	5,922	(12,073)	9,083
Comprehensive loss	(433,920)	(61,117)	(312,838)	(235,744)
Parent company \| Reportable legal entities
Condensed Statement of Income Captions [Line Items]
General and administrative expenses	(98,099)	(13,817)	(37,105)	(146,838)
Interest income	42,402	5,972
Foreign exchange (loss) gain	(12)	(2)	2	(2,324)
Other income, net				34
Equity in deficit of subsidiaries	(420,259)	(59,192)	(263,662)	(95,699)
Net Loss	(475,968)	(67,039)	(300,765)	(244,827)
Deemed dividend			(446,419)	(2,211,330)
Net loss attributable to ordinary shareholders of the company	(475,968)	(67,039)	(747,184)	(2,456,157)
Comprehensive income (loss), net of tax of nil:
Foreign currency translation adjustments	42,048	5,922	(12,073)	9,083
Comprehensive loss	¥ (433,920)	$ (61,117)	¥ (312,838)	¥ (235,744)

Related Party Transactions - Balances (Details) ¥ in Thousands, $ in Thousands	1 Months Ended	12 Months Ended
	Nov. 30, 2023 CNY (¥)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2021 CNY (¥)
Related Party Transaction
Payment for equity acquisition consideration		¥ 17,506
Subscription consideration received from shareholders		17,506	$ 2,466	¥ 507,620
Founding Shareholders and certain shareholders
Related Party Transaction
Payment for equity acquisition consideration	¥ 17,506	17,506
Subscription consideration received from shareholders	¥ 17,506	¥ 17,506

Statutory Reserves and Restricted Net Assets

12 Months Ended

Dec. 31, 2023

Restrictions for Consolidated and Unconsolidated Subsidiaries [Abstract]

Statutory Reserves and Restricted Net Assets

24.STATUTORY RESERVES AND RESTRICTED NET ASSETS

The Group’s entities in the PRC are required under PRC laws to distribute its after-tax profits of the current year and set aside at least 10% of its after-tax profits each year, if any, to fund certain statutory reserve funds until such reserve funds reach 50% of their registered capital. The statutory reserve funds are not distributable as cash dividends. The Group has no statutory reserve balance for the years ended December 31, 2022 and 2023.

The PRC entities with the Group are restricted from transferring their net assets to the Company, which include paid-in capital and statutory reserves. As of December 31, 2023, the balance of restricted net assets was RMB3,121,808.

Borrowings - Long-term bank borrowings (Details) ¥ in Thousands, SFr in Thousands	1 Months Ended		12 Months Ended
	Oct. 31, 2023 CNY (¥)	Nov. 30, 2022 CNY (¥)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2023 CHF (SFr)	Dec. 31, 2023 CNY (¥)
Debt Instrument [Line Items]
Long-term bank borrowings, current portion						¥ 1,782
Swiss Company
Debt Instrument [Line Items]
long-term borrowings					SFr 299	2,516
Long-Term Debt
Debt Instrument [Line Items]
Unused bank facility						524,836
Shanghai Hesai Long Term Facility
Debt Instrument [Line Items]
Term of borrowings (in years)		2 years
Line of credit facility, maximum borrowing capacity		¥ 700,000
Credit facility agreement						561,201
Interest rate				2.45%
Amount drew drawn			¥ 261,345	¥ 18,472
Shanghai Hesai Long Term Facility \| Minimum
Debt Instrument [Line Items]
Interest rate			2.45%
Shanghai Hesai Long Term Facility \| Maximum
Debt Instrument [Line Items]
Interest rate			2.65%
Shanghai Hesai Long Term Facility \| Prime Rate
Debt Instrument [Line Items]
Annual interest rate		100.00%
Zhejiang Hertz Long Term Facility
Debt Instrument [Line Items]
Term of borrowings (in years)	1 year
Line of credit facility, maximum borrowing capacity	¥ 110,000
Interest rate			2.85%
Amount drew drawn			¥ 5,347
Long-term bank borrowings, current portion						¥ 1,782
Zhejiang Hertz Long Term Facility \| Prime Rate
Debt Instrument [Line Items]
Annual interest rate	0.60%

Combined and Consolidated Statements of Cash Flows ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Cash flows from operating activities:
Net loss	¥ (475,968)	$ (67,039)	¥ (300,765)	¥ (244,827)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	86,268	12,151	53,634	28,231
Share-based compensation	234,624	33,046	105,219	54,283
Provision for (reversal of) allowance for credit loss	43,004	6,057	(1,810)	2,561
Loss from disposal of property and equipment			369	169
Fair value change of short-term investments	(15,095)	(2,126)	4,878	(7,717)
Share of loss in equity method investee	45	6	45	84
Foreign exchange loss (gain), net	(9)	(1)	(5,868)	10,945
Non-cash lease expenses	34,355	4,839	30,260
Inventory write-down	9,290	1,308	39,431	16,600
Gain from disposal of subsidiary	(6,129)	(863)
Changes in operating assets and liabilities:
Accounts receivable	(90,750)	(12,782)	(390,859)	(31,696)
Contract assets	(7,088)	(998)	134,244	(108,737)
Inventories	145,977	20,560	(305,553)	(237,755)
Prepayments and other current assets	(82,646)	(11,640)	(33,556)	(48,618)
Amounts due from related parties				24,788
Other non-current assets	(3,178)	(448)	2,883	(5,573)
Contract liabilities	39,545	5,570	(91,737)	113,265
Deferred tax liabilities	(35)	(5)	(27)	(113)
Accounts payable	61,529	8,666	128,863	21,834
Income tax payable				(9)
Accrued expenses and other current liabilities	80,297	11,310	(41,074)	170,125
Operating leases liabilities	(34,595)	(4,873)	(30,103)
Other non-current liabilities	37,820	5,327	5,511	13,774
Net cash (used in) provided by operating activities	57,261	8,065	(696,015)	(228,386)
Cash flows from investing activities:
Purchases of short-term investments	(5,100,868)	(718,442)	(5,586,764)	(4,812,942)
Maturity of short-term investments	4,479,302	630,896	6,978,764	3,114,287
Proceeds from disposals of property and equipment				22
Purchases of property and equipment	(406,748)	(57,289)	(231,210)	(220,096)
Purchases of land-use right				(43,188)
Purchases of intangible assets	(7,925)	(1,116)	(9,180)	(18,320)
Proceeds from government subsidies after capital expenditure	15,893	2,238
Purchases of equity securities			(30,000)
Advances to a related party			(1,964)
Cash inflow from disposal of subsidiary	14,407	2,029
Cash outflow from acquisition of subsidiary, net of cash acquired of RMB 571	(54,454)	(7,670)
Net cash (used in) provided by investing activities	(1,060,393)	(149,354)	1,119,646	(1,980,237)
Cash flows from financing activities:
Cash distribution to shareholders of Shanghai Hesai in connection with the 2021 Reorganization	(17,506)	(2,466)		(507,620)
Cash contribution from shareholders in connection with the 2021 Reorganization	17,506	2,466		507,620
Proceeds from issuance of convertible loans				1,950,338
Proceeds from issuance of ordinary shares of Hesai Group	1,225,470	172,604		453,978
Return of advances to employees in connection with share option grants				(590)
Proceeds from long-term borrowings	264,910	37,312	18,472
Proceeds from short-term borrowings	111,682	15,730
Payment of offering costs	(22,828)	(3,215)	(3,296)
Proceeds from issuance of ordinary shares upon the exercise of share options	2,872	405
Government subsidies received in advance of capital expenditure	8,250	1,162
Net cash provided by financing activities	1,590,356	223,998	15,176	2,403,726
Net increase in cash and cash equivalents	587,224	82,709	438,807	195,103
Cash, cash equivalents and restricted cash, beginning of the year	913,277	128,632	449,352	256,688
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	57,623	8,116	25,118	(2,439)
Cash, cash equivalents and restricted cash, end of the year	1,558,124	219,457	913,277	449,352
Cash paid during the year for:
Income taxes			(1,230)	213
Interest (net of capitalized amount of nil, RMB 11 and RMB 4,433 for the years ended December 31,2021,2022 and 2023, respectively)	3,069	432
Supplemental disclosure of non-cash investing and financing activities:
Conversion of convertible loans to ordinary shares				1,950,338
Accrued purchases of property and equipment	¥ 179,839	$ 25,330	102,181	¥ 114,446
Accrued offering cost			¥ 480

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2.	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation

The combined and consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

Basis of Consolidation

The financial statements presented herein represent (1) prior to the 2021 Reorganization, the combined financial statements of Shanghai Hesai and its subsidiaries; (2) subsequent to the 2021 Reorganization, the consolidated financial statements of the Company and its subsidiaries. All transactions and balances among the Company and its subsidiaries have been eliminated upon consolidation.

Use of estimates

The preparation of combined and consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, the Group’s management reviews these estimates based on information that is currently available. Changes in facts and circumstances may cause the Group to revise its estimates. Significant accounting estimates reflected in the Group’s consolidated financial statements mainly include the estimated project progress towards certain services revenue, warranty reserves, inventory write-down, allowance for doubtful accounts, valuation of ordinary shares and share-based compensation.

Fair value measurements

The established fair value hierarchy as defined by U.S. GAAP requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of inputs may be used to measure fair value include:

Level 1 Valuation techniques in which all significant inputs are unadjusted quoted prices from active markets for assets or liabilities that are identical to the assets or liabilities being measured.

Level 2 Valuation techniques in which significant inputs include quoted prices from active markets for assets or liabilities that are similar to the assets or liabilities being measured and/or quoted prices for assets or liabilities that are identical or similar to the assets or liabilities being measured from markets that are not active. Also, model-derived valuations in which all significant inputs and significant value drivers are observable in active markets are Level 2 valuation techniques.

2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Fair value measurements – continued

Level 3 Valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Unobservable inputs are valuation technique inputs that reflect the Group’s own assumptions about the assumptions that market participants would use in pricing an asset or liability.

The Group’s financial instruments include cash and cash equivalents, time deposits with maturities between three months and one year included in short-term investments, accounts receivable, contract assets, amounts due from/to related parties, other receivables included in other current assets, accounts payable, notes payable, other current liabilities, and short/long-term borrowings. All carrying amounts of these short-term financial instruments measured at amortized cost approximate their fair values due to their short-term nature. The fair value of long-term borrowings is approximate to their carry amounts because the annual interest rates of such borrowings are the similar to the prevailing market annual interest rate.

Short-term investments also consist of structured financial products with commercial banks in the PRC. The structured financial products are financial instruments with variable interest rates indexed mainly to exchange rates and/or price of commodities. In accordance with ASC 820, Fair Value Measurement, the Group elected the fair value option at the date of initial recognition to measure structured financial products at fair value on a recurring basis with changes in the fair value are recorded as interest income in the combined and consolidated statements of operations and comprehensive loss. The fair values of these structed financial products as of December 31, 2022 and 2023 were determined to be RMB945,865 and RMB857,924 using Level 2 significant other observable input by applying the interest rate implied by the current quotation of underlying indices. For the years ended December 31, 2021, 2022 and 2023, the Group recorded fair value changes of short - term investments of RMB26,351, RMB52,252 and RMB30,158 as interest income in the combined and consolidated statements of operations and comprehensive loss, respectively.

Functional currency and foreign currency translation

The Group uses Renminbi (“RMB”) as its reporting currency. The functional currency of the Company and its subsidiary located outside of PRC is the United States dollar (“US$”), and the functional currency of subsidiaries located in PRC is RMB.

Assets and liabilities are translated from each entity’s functional currency to the reporting currency at the exchange rate on the balance sheet date. Equity amounts are translated at historical exchange rates, and revenues, expenses, gains and losses are translated using the average rate for the year. Translation adjustments are reported as cumulative translation adjustments and are shown as a separate component of accumulated other comprehensive (loss) income in the combined and consolidated statements of changes in shareholders’ (deficit) equity.

Monetary assets and liabilities denominated in currencies other than the entity’s applicable functional currencies are translated into the functional currencies at the prevailing rates of exchange at the balance sheet date. Nonmonetary assets and liabilities are remeasured into the applicable functional currencies at historical exchange rates. Transactions in currencies other than the applicable functional currencies during the year are converted into the functional currencies at the applicable rates of exchange prevailing at the transaction dates. Transaction gains and losses are recognized as foreign exchange (loss) gain, net in the combined and consolidated statements of operations and comprehensive loss.

2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Cash and cash equivalents

The Group classifies cash on hand and cash in bank with original maturities of three months or less, and are unrestricted as to withdrawal or use, as cash and cash equivalents.

Restricted cash

Restricted cash mainly represents the Group’s security deposits with respect to the Group’s credit card account, withdrawal or use is contractually restricted of these cash balance.

Accounts receivable, net

Accounts receivable mainly consists of amount due from the Group’s customers, which are recorded net of allowance for credit losses. The Group divides its portfolio into four pools — domestic PRC automotive original equipment manufacturer (“OEM”) customers, domestic PRC other customers, overseas automotive OEM customers and overseas other customers for the purposes of performing ongoing credit evaluation by reviewing their credit rating and industry geographic distribution and assessing allowance for credit loss based on expected credit loss model for each pool of the portfolio. The Group develops a current expected credit loss (“CECL”) model based on historical collection experience, the age of the accounts receivable balances, current economic conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may affect its ability to collect from customers. Account receivable balances are written off after all collection efforts have been exhausted.

Inventories

Inventories consists of raw materials, work-in-process, and finished goods and are stated at lower of cost or net realizable value. Costs are computed under the weighted average method. Net realizable value is determined as estimated selling prices in the ordinary course of business, less reasonably predictable costs to sell. Valuation of inventories is based on currently available information about expected recoverable value. The estimate is dependent upon factors such as market trends, inventory ageing, and historical and forecasted customer demands. Inventory write-down is recorded as cost of revenues.

Property and equipment, net

Property and equipment are stated at cost less accumulated depreciation and impairment. Property and equipment except land are depreciated at rates sufficient to write off its costs less impairment, if any, over the estimated useful lives on a straight-line basis. The estimated useful lives are as follows:

Electronic equipment		3 – 5 years
Machinery and equipment		10 years
Furniture and fixture		5 years
Transportation vehicles		4 years
Leasehold improvements		Over the shorter of the expected lease term or useful lives

Land held by the Group in perpetuity is not depreciated and is stated at cost less impairment.

Interest expenses on outstanding debt are capitalized during the period of significant capital asset construction. Capitalized interest on construction in progress is included within Property, plant and equipment, net and is amortized over the life of the related assets.

2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Intangible assets, net

Intangible assets are recognized and measured at cost upon acquisition. Following the initial recognition, intangible assets are carried at cost less any accumulated amortization and any accumulated impairment losses. The identifiable intangible assets acquired are amortized on a straight-line basis over the respective useful lives as follows:

Software		3 – 10 years
Technology		3 – 8 years

Land-use rights, net

Land-use rights are recognized and measured at cost upon acquisition. Following the initial recognition, land-use rights are carried at cost less any accumulated amortization and any accumulated impairment losses. According to the land-use rights policy in the PRC, the useful life of land-use rights is 50 years.

Goodwill

Goodwill is not amortized but is tested for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that it might be impaired. The Group’s annual testing date is December 31.

The Group recognized goodwill of US$1,982,033, which was assigned to Oxigraf, Inc. as a reporting unit. On November 15, 2023, the Group disposed Oxigraf, Inc., the corresponding goodwill was derecognized as part of the disposal.

Long-term investments

Investment in equity method investee

The Group uses equity method to account for common stock investments in entities over which it has significant influence but does not have controlling interests. Under the equity method of accounting, the Group’s share of the earnings or losses of the investee companies, impairments, and other adjustments required by the equity method are reflected in the combined and consolidated statements of operations and comprehensive loss. When the Group’s share of losses in an investee equals or exceeds its carrying amount of the investment in the investee, the Group does not recognize further losses, unless the Group has guaranteed the obligations of the investee or is otherwise committed to provide further financial support for the investee. An impairment loss is recorded when there has been a loss in value of the investment that is other than temporary.

An impairment charge is recorded if the carrying amount of the investment exceeds its fair value and this condition is determined to be other-than temporary. The Group estimated the fair value of investments in equity investees under discounted cash flow analysis which requires significant judgments, including the estimation of future cash flows, which is dependent on internal forecasts, the estimation of long-term growth rate of a company’s business, the estimation of the useful life over which cash flows will occur, and the determination of the weighted average cost of capital. The Group did not record any impairment on its equity method investment during the years ended December 31, 2021, 2022 and 2023.

2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Equity securities without readily determinable fair value

The Group has elected to measure the investment in equity securities without readily determinable fair values at cost minus impairment, if any, adjusted up or down for observable price changes. Any adjustment to the carrying amount is recorded in other income (loss), net. At each reporting period end, the Group makes a qualitative assessment considering impairment indicators to evaluate whether any of these investments is impaired. If the assessment indicates that the fair value of an investment is less than the carrying value, the investment in equity securities will be written down to its fair value, with the difference between the fair value of the investment and its carrying amount as an impairment loss. No fair value adjustment was recognized for the year ended December 31, 2022 and 2023.

Revenue recognition

The Group recognizes revenue from sales of LiDAR products and gas detection products at a point in time when control of the products is transferred to the customers, which generally occurs upon delivery according to the terms of the underlying contracts. Product sales to certain customers may require customer acceptance due to performance acceptance criteria that is considered more than a formality. For these product sales, revenue is recognized upon the expiration of the customer acceptance period. The Group’s standalone selling prices are based on the prices charged to customers for the single performance obligation which is transfer of control of products upon delivery to the customers or upon expiration of the customer acceptance period. The Group’s general terms and conditions for its contracts do not contain a right of return that allows the customer to return products and receive a credit, and therefore the Group does not estimate returns. Amounts billed to customers for shipping and handling are included in revenue. Taxes collected from customers and remitted to governmental authorities are excluded from revenue on the net basis of accounting. Accounts receivables are due under normal trade terms, typically within 30 to 90 days.

For LiDAR solution that the Group offers customers with a combination of hardware, software, deployment and professional services and engineering design, development and validation service projects, control of the goods and services may be transferred over time or at a point in time depending on the terms of the contract. Control of the goods and services is transferred over time when the Group’s performance does not create an asset with an alternative use to the Group and the Group has an enforceable right to payment for performance completed to date. The Group recognizes revenue over time using an input method based on contract cost incurred to date compared to total estimated contract cost (cost-to-cost) as the services are provided. Otherwise, revenue is recognized at a point in time when the customer obtains control of the goods and services.

The Group typically provides standard product warranties on LiDARs. For LiDARs used in autonomous mobility sector, such warranties last one year. For those used in advanced driver assistance system sector, such warranties cover five years or 100 thousand kilometers, whichever comes first. Standard warranties are considered to be assurance type warranties and are not accounted for as separate performance obligations. The Group accrues estimated future warranty costs and charges to cost of revenues in the period that the related revenue is recognized. These estimates are based on historical warranty experience and any known or expected changes in warranty exposure, such as trends of product reliability and costs of repairing and replacing defective products. The Group also provides extended warranties as a service for an additional term ranging one to two additional years. For service type extended warranty contracts, the Group allocates revenue to this performance obligation on a relative standalone selling price basis and recognizes the revenue ratably over time during the effective period of the services. The Group recognized RMB676, RMB7,702 and RMB10,413 for extended warranty services, for the years ended December 31,2021, 2022 and 2023, respectively.

2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Revenue recognition(continued)

Changes in the Group’s accrued warranty liability was as follows:


	For the Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB
Balance as of the beginning of the year	10,042	13,932	17,694
Warranty provision	10,766	8,467	26,247
Consumption	(6,876)	(4,705)	(15,516)
Balance as of the end of the year	13,932	17,694	28,425

A contract asset is recorded when the Group has transferred products or services to the customer before payment is received or is due, and the Group’s right to consideration is conditional on future performance in the contract. The Group records a contract asset for unbilled receivables for certain customers where the control of the goods or services has been transferred. A contract liability exists when the Group has received consideration but has not transferred the related goods or services to the customer. The Group’s contract liabilities mainly consist of payments received from customers before they received the products.

Cost of revenues

Cost of revenues for our products includes the manufacturing cost of LiDAR sensors and gas detection products, which primarily consists of direct material costs, personnel-related costs, purchasing costs, depreciation, amortization and overhead associated with manufacturing operations, accrued warranty costs, shipping costs, licensing fees, and write-downs of excess inventories and obsolete inventories. Cost of revenues for our services includes cost of LiDAR solution and direct labor costs and related material costs relating to the fulfillment of services.

Research and development expenses

Research and development expenses consist primarily of personnel-related costs directly associated with research and development organization, with the remainder being prototype expenses, third-party engineering and contractor costs, an allocated portion of facility and IT costs and depreciation. The Group’s research and development costs are related to enhancing and developing additional functionality for its existing products and on new product development, including new releases and upgrades to LiDAR sensors. The Group expenses research and development costs as incurred.

Government grants

Government grants consist of cash subsidies received by the Group from PRC local governments. Grants received as incentives for conducting business in certain local districts with no performance obligation or other restriction as to the use are recognized when cash is received. Grants received with government specified performance obligations are recognized when all the obligations have been fulfilled. Government grants received related to the purchases of long-term assets are used to net the cost of the respective assets.

The grants related to unfulfilled obligations of nil, nil and RMB53,668 were included in the other non-current liabilities as of December 31, 2021, 2022 and 2023, respectively. The Group recorded government grants RMB27,446, RMB10,825 and RMB14,280 in other operating income, net for the years ended December 31, 2021, 2022 and 2023, respectively.

2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Loss per share

Basic loss per share is computed by dividing net loss attributable to the holders of ordinary shares by the weighted average number of ordinary shares outstanding during the year.

Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue ordinary shares were exercised or converted into ordinary shares. The Group had share options, which could potentially dilute basic earnings per ordinary share in the future. To calculate the number of shares for diluted earnings per ordinary share, the effect of the share options is computed using the treasury stock method.

Share-based compensation

The Group grants share-based awards of the Company to eligible employees and accounts for these share-based awards in accordance with ASC 718, Compensation - Stock Compensation.

Share-based awards that are subject to both the service period and the occurrence of a Qualified IPO as performance condition are measured at the grant date fair value and share-based compensation expenses are recognized for the cumulatively vested amount upon the completion of the Qualified IPO first and then over the remaining requisite service period, net of actual forfeitures, if any.

Share-based awards that are subject to only the service period are measured at the grant date fair value and share-based compensation expenses are recognized on a straight-line basis over the requisite service period of the individual grants. The Group recognizes share-based compensation expenses based on the target number of Class B ordinary shares that may be earned pursuant to the award. Forfeitures are recognized as reductions to share-based compensation when they occur.

Prior to IPO, the fair value of the share options granted to employees is determined with the assistance of an independent valuation specialist using widely accepted valuation techniques, including discounted cash flow analysis on the expected future free cash flows and binomial option pricing model.

The Group accounts for the effects of a modification as described in ASC 718. The Group calculates incremental compensation cost of a modification as the excess of the fair value of the modified option over the fair value of the original option immediately before its terms are modified. For vested options, the Group would recognize incremental compensation cost on the date of modification and for unvested options, the Group would recognize, prospectively and over the remaining requisite service period, the sum of the incremental compensation cost and the remaining unrecognized compensation cost for the original award.

Share-based compensation with cash settlement features is classified as liabilities. The percentage of the fair value that is recorded as compensation cost at the end of each period is based on the percentage of the requisite service that has been rendered at that date. Changes in fair value of the liability classified award that occurs during the requisite service period are recognized as compensation costs rateably over time during the services to be rendered.

2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Income Taxes

Current income taxes are provided for in accordance with the laws of the relevant tax authorities.

Deferred income taxes are provided using assets and liabilities method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are recognized to the extent that these assets are more likely than not to be realized. In making such a determination, the management consider all positive and negative evidence, including future reversals of projected future taxable income and results of recent operation. Deferred tax assets are then reduced by a valuation allowance through a charge to income tax expense when, in the opinion of management, it is more likely than not that a portion of or all of the deferred tax assets will not be realized.

The Group accounts for uncertainty in income taxes recognized in the financial statements by applying a two-step process to determine the amount of the benefit to be recognized. First, the tax position must be evaluated to determine the likelihood that it will be sustained upon external examination by the taxing authorities. If the tax position is deemed more-likely-than-not to be sustained (defined as a likelihood of more than fifty percent of being sustained upon an audit, based on the technical merits of the tax position), the tax position is then assessed to determine the amount of benefits to recognize in the combined and consolidated financial statements. The amount of the benefits that may be recognized is the largest amount that has a greater than 50% likelihood of being realized upon ultimate settlement.

Interest and penalties on income taxes will be classified as a component of the provisions for income taxes. The Group did not recognize any income tax due to uncertain tax position or incur any interest and penalties related to potential underpaid income tax expenses for the years ended December 31, 2021, 2022 and 2023.

Leases

The Group leases office space, manufacturing plants and warehouses in Shanghai, PRC and California, USA under non-cancellable operating lease agreements that expire at various dates through October 31, 2025.

Before January 1, 2022, the Group used the Accounting Standards Codification, Leases (“ASC 840”), in which each lease is classified at the inception date as either a capital lease or an operating lease. All the Group’s leases are classified as operating lease under ASC 840. The Group’s reporting for periods prior to January 1, 2022 continued to be reported in accordance with Leases (ASC 840).

Effective from January 1, 2022, the Group adopted ASU No. 2016-02 “Leases” (“ASC 842”) using the modified retrospective approach. The Group elected the transition package of practical expedients permitted within the standard, which allowed it not to reassess initial direct costs, lease classification, or whether the contracts contain or are leases for any leases that existed prior to January 1, 2022. The Group also elected the short-term lease exemption for all contracts with an original lease term of 12 months or less. Upon the adoption, the Group recognized operating lease right-of-use (“ROU”) assets of RMB36,030 with corresponding lease liabilities of RMB36,599 on the combined and consolidated balance sheets. The operating lease ROU assets include adjustments for prepayments. The adoption did not impact the Group’s beginning retained earnings as of January 1, 2022, or the Group’s prior years’ financial statements.

2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Leases - continued

The impact on the combined and consolidated balance sheets upon adoption of ASC842 was as follows:


	December 31, 2021	January 1, 2022
		Effect of the	After adoption
	As reported	adoption of ASC 842	of ASC 842
	RMB	RMB	RMB
ASSETS
Right-of-use assets	—	36,030	36,030
TOTAL ASSETS	—	36,030	36,030
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accrued expenses and other current liabilities	569	12,566	13,135
Lease liabilities, non-current	—	23,464	23,464
TOTAL LIABILITIES	569	36,030	36,599
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT	569	36,030	36,599

Under ASC 842, the Group determines whether an arrangement constitutes a lease and records lease liabilities and ROU assets on its combined and consolidated balance sheets at the lease commencement date. The Group measures the operating lease liabilities at the commencement date based on the present value of remaining lease payments over the lease term, which is computed using the Group’s incremental borrowing rate, an estimated rate the Group would be required to pay for a collateralized borrowing equal to the total lease payments over the lease term. The Group measures the operating lease ROU assets based on the corresponding lease liability adjusted for payments made to the lessor at or before the commencement date, and initial direct costs it incurs under the lease. The Group begins recognizing operating lease expense based on lease payments on a straight-line basis over the lease term after the lessor makes the underlying asset available to the Group. Some of the Group’s lease contracts include options to extend the leases for an additional period which has to be agreed with the lessors based on mutual negotiation. After considering the factors that create an economic incentive, the Group does not include renewal option periods in the lease term for which it is not reasonably certain to exercise.

Comprehensive income (loss)

Comprehensive income (loss) is defined as the change in equity of the Group during a period arising from transactions and other events and circumstances excluding transactions resulting from investments by shareholders and distributions to shareholders. Comprehensive income(loss) is reported in the consolidated statement of operations and comprehensive income(loss). Accumulated other comprehensive (loss) income, as presented on the accompanying combined and consolidated balance sheets consists of accumulated foreign currency translation adjustments.

Segment

The Chief Executive Officer, Chief Scientist and Chief Technology Officer (collectively referred to the “founders”) are identified as the chief operating decision maker (CODM).

The Group organized its operations into two segments: LiDAR segment and gas detection segment. The financial information of the respective segments is disclosed in Note 22.

2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Concentration of risks

Concentration of credit risk

Financial instruments that potentially expose the Group to concentration of credit risk consist primarily of cash and cash equivalents, short-term investments, accounts receivable, contract assets, amount due from related parties, and prepayments and other current assets.

The Group places its cash and cash equivalents and short-term investments in various financial institutions in the PRC, Hong Kong Special Administrative Region, and the United States. The Group believes that no significant credit risk exists as all of the Group’s cash and cash equivalents are held with financial institutions that Group’s management believes to be high credit quality.

Accounts receivable and contract assets are typically unsecured and are derived from revenue earned from the customers. The Group conducts credit evaluations of customers to whom credit terms are extended. The Group establishes an allowance for doubtful accounts based on CECL model developed by the Group, which considers historical collection experience, the age of the accounts receivable balances, current economic conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may affect its ability to collect from customers.

Prepayments and other current assets mainly consist of deposits of rent, and prepaid expenses, which can be applied for deduction of future payments for expenses. The Group has no significant concentrations of credit risk with respect to its prepayments and other current assets.

Concentration of customers

The following customers accounted for 10% or more of revenue for the years ended December 31, 2021, 2022 and 2023:


	For the Year ended
	December 31,
	2021		2022		2023
Customer A	*		24.3	%	25.6	%
Customer B	17.5	%	13.7	%	28.4	%
Customer C	12.7	%	*		*

The following customers accounted for 10% or more of the Group’s accounts receivable, contract assets and amount due from related parties as of December 31, 2022 and 2023:


	As of December 31,
	2022		2023
Customer A	61.0	%	41.3	%
Customer B	15.3	%	10.2	%
Customer D	*		11.2	%

2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Concentration of suppliers

The Group has one supplier accounted for 10% or more of purchases for the years ended December 31, 2021 and 2022:


	For the Year ended December 31,
	2021		2022		2023
Supplier A	13.7	%	12.3	%	*

Foreign currency risk

A significant portion of Group’s cash and cash equivalents and short-term investments are denominated in US$, fluctuations in exchange rates between US$ and RMB may result in foreign exchange gains or losses. The value of US$ is subject to changes in central government policies and to international economic and political developments affecting supply and demand in the China Foreign Exchange Trading System market. The Group has cash and cash equivalents that are denominated in US$, totaling US$51,351 and US$131,832 as of December 31, 2022 and 2023, respectively.

Recent accounting pronouncements

Under the Jumpstart Our Business Startups Act of 2012, as amended (“the JOBS Act”), the Group meets the definition of an emerging growth company, or EGC as of December 31, 2023, and has elected the extended transition period for complying with new or revised accounting standards, which delays the adoption of these accounting standards until they would apply to private companies. Once the Group ceases to qualify as EGC, it will immediately adopt the new and revised accounting standards already effective for public companies. There are no recent accounting pronouncements which are expected to have a material effect on the Company’s consolidated financial statements in the current or any future periods.

Convenience translation

The Group’s business is primarily conducted in China and most of its revenues are denominated in RMB. However, periodic reports made to shareholders will include current period amounts translated into US$ using the then current exchange rates, for the convenience of the readers. Translations of balances in the combined and consolidated balance sheet, consolidated statements of operations and comprehensive loss and consolidated statements of cash flows from RMB into US$ as of and for the year ended December 31, 2023 are solely for the convenience of the readers and were calculated at the rate of US$1.00=RMB7.0999 representing the noon buying rate set forth in the H.10 statistical release of the United States as of December 29, 2023.

Combined and Consolidated Statements of Changes in Shareholders' (Deficit) Equity ¥ in Thousands, $ in Thousands	Class A Ordinary shares CNY (¥) shares	Class B Ordinary shares CNY (¥) shares	Additional paid-in capital CNY (¥)	Subscription receivables CNY (¥)	Accumulated deficit CNY (¥)	Accumulated other comprehensive (loss) income CNY (¥)	CNY (¥)	USD ($)
Beginning balance at Dec. 31, 2020			¥ 1,193,857		¥ (56,046)	¥ (618)	¥ 1,137,193
Net loss					(244,827)		(244,827)
Foreign currency translation						9,083	9,083
Issuance of ordinary shares in connection with the 2021 Reorganization	¥ 19	¥ 40	(59)	¥ (310,227)			(310,227)
Issuance of ordinary shares in connection with the 2021 Reorganization (in shares) \| shares	30,033,379	62,834,548
Reclassification of ordinary shares to redeemable shares		¥ (20)	(1,193,798)		(1,862,599)		(3,056,417)
Reclassification of ordinary shares to redeemable shares (in shares) \| shares		(31,884,847)
Share-based compensation			54,283				54,283
Accretion in redemption value of redeemable shares			(54,283)		(25,475)		(79,758)
Balance as of ending at Dec. 31, 2021	¥ 19	¥ 20		(310,227)	(2,188,947)	8,465	(2,490,670)
Balance as of ending (in shares) at Dec. 31, 2021 \| shares	30,033,379	30,949,701
Net loss					(300,765)		(300,765)
Foreign currency translation						(12,073)	(12,073)
Share-based compensation			104,750				104,750
Accretion in redemption value of redeemable shares			(104,750)		(341,669)		(446,419)
Balance as of ending at Dec. 31, 2022	¥ 19	¥ 20		(310,227)	(2,831,381)	(3,608)	(3,145,177)
Balance as of ending (in shares) at Dec. 31, 2022 \| shares	30,033,379	30,949,701
Net loss					(475,968)		(475,968)	$ (67,039)
Foreign currency translation						42,048	42,048	5,922
Share-based compensation			233,958				233,958
Issuance of ordinary shares for initial public offering ("IPO"), net of issuance cost of RMB 117,774		¥ 7	1,193,290				1,193,297
Issuance of ordinary shares for initial public offering ("IPO"), net of issuance cost of RMB 117,774 (in shares) \| shares		10,125,118
Reclassification of redeemable shares to ordinary shares upon IPO		¥ 39	5,986,871				5,986,910
Reclassification of redeemable shares to ordinary shares upon IPO (in shares) \| shares		54,551,513
Issuance of ordinary shares upon the exercise of share options and vesting of restricted share units		¥ 1	9,743				9,744
Issuance of ordinary shares upon the exercise of share options and vesting of restricted share units (in shares) \| shares		1,368,778
Settlement of subscription receivables in connection the 2021 reorganization				17,506			17,506
Balance as of ending at Dec. 31, 2023	¥ 19	¥ 67	¥ 7,423,862	¥ (292,721)	¥ (3,307,349)	¥ 38,440	¥ 3,862,318	$ 543,996
Balance as of ending (in shares) at Dec. 31, 2023 \| shares	30,033,379	96,995,110

Share-Based Compensation - Tandem award (Details) ¥ / shares in Units, ¥ in Thousands	1 Months Ended	12 Months Ended
	May 31, 2022 $ / shares shares	Dec. 31, 2023 CNY (¥) ¥ / shares shares	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Share-Based Compensation Arrangement by Share-Based Payment Award
Number of options granted \| shares		2,422,714
Exercise price \| ¥ / shares		¥ 14.49
Compensation expenses to options granted \| ¥		¥ 234,624	¥ 105,219	¥ 54,283
Tandem award
Share-Based Compensation Arrangement by Share-Based Payment Award
Number of options granted \| shares	60,000
Exercise price \| $ / shares	$ 18.65
Vesting term	4 years
Vesting percentage	25.00%
Cash payment per share for any options vested but not exercised \| $ / shares	$ 8
Expiration period	4 years
Compensation expenses to options granted \| ¥		¥ 666	¥ 469

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(02)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Share-Based Compensation - 2021 Plan (Details) - CNY (¥) ¥ in Thousands	1 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award
Share-based compensation expenses		¥ 234,624	¥ 105,219	¥ 54,283
2021 Option Incentive Plan \| Employee share options
Share-Based Compensation Arrangement by Share-Based Payment Award
Number of stock options approved under modification	1,136,631
Share-based payment arrangement, plan modification incremental	¥ 0
Recognized incremental compensation cost	0
Share-based compensation expenses	¥ 6,690

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Net Revenues

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Net Revenues

17.	NET REVENUES

The following table presents the Group’s net revenues for the years ended December 31, 2021, 2022 and 2023.


	For the Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB
Product revenues
Revenue from LiDAR products	685,333	1,122,237	1,735,254
Revenue from gas detection products	19,533	23,967	26,863
Other revenues	1,200	5,663	2,773
Service revenues
Engineering design, development and validation service and solution revenue	14,026	43,101	100,493
Other service revenues	676	7,702	11,606
Total	720,768	1,202,670	1,876,989

The following table summarizes the Group’s revenues recognized at a point in time or over time.


	For the Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB

Revenue recognized at a point of time	706,066	1,175,758	1,783,803
Revenue recognized over time	14,702	26,912	93,186
Total	720,768	1,202,670	1,876,989

The following table summarizes the Group’s revenues disaggregated by the different geographic location.


	For the Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB
Revenue by geographic location
Mainland China	269,634	697,294	991,912
North America	352,981	358,549	748,147
Europe	67,912	86,153	70,500
Other regions	30,241	60,674	66,430
Total	720,768	1,202,670	1,876,989

17.NET REVENUES (continued)

The movements of the Group’s accounts receivable and contract balances are as follows:


	Accounts	Contract	Contract
	Receivable	assets	liabilities
	RMB	RMB	RMB
Opening Balance as of January 1, 2021	56,319	38,337	9,357
Increase, net	29,502	108,200	113,246
Ending Balance as of December 31, 2021	85,821	146,537	122,603
Increase(decrease), net	399,223	(133,937)	(82,225)
Ending Balance as of December 31, 2022	485,044	12,600	40,378
Increase(decrease), net	39,774	7,088	39,547
Ending Balance as of December 31, 2023	524,818	19,688	79,925

Revenues with amount of RMB8,048, RMB109,120, and RMB37,111 were recognized in the years ended December 31, 2021, 2022 and 2023, respectively, that were included in the balance of contract liabilities at the beginning of each year.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Share-Based Compensation - Option activity (Details) ¥ / shares in Units, ¥ in Thousands		12 Months Ended
	Feb. 08, 2023 CNY (¥)	Dec. 31, 2023 CNY (¥) ¥ / shares shares	Dec. 31, 2023 CNY (¥) $ / shares ¥ / shares shares	Dec. 31, 2022 CNY (¥) ¥ / shares shares	Dec. 31, 2021 CNY (¥) ¥ / shares
Number of options
Options outstanding, Beginning \| shares		9,608,634
Number of options granted \| shares		2,422,714
Forfeited \| shares		506,540
Exercised \| shares		1,333,087
Options outstanding, Ending \| shares		10,191,721		9,608,634
Vested and expected to vest at ending \| shares		10,191,721	10,191,721
Exercisable at ending \| shares		5,335,293	5,335,293
Weighted average exercise price
At the beginning (in dollars per share)		¥ 12.51
Granted (in dollars per share)		14.49
Forfeited (in dollars per share)		44.32
Exercised (in dollars per share)		16.59
Outstanding at ending (in dollars per share)		16.07		¥ 12.51
Vested and expect to vest		16.07	¥ 16.07
Weighted average exercise price		15.74	¥ 15.74
Weighted average grant date fair value
At the beginning		65.93
Weighted average grant-date fair value \| (per share)		55.08	¥ 55.08	121.62	¥ 102.74
Outstanding at ending		62.08		¥ 65.93
Vested and expected to vest at ending		62.08
Exercisable at ending		¥ 50.36
Weighted average remaining contract life and Aggregate intrinsic value
Outstanding		4 years 11 months 19 days		5 years 5 months 15 days
Vested and expect to vest (in years)		4 years 11 months 19 days
Exercisable at ending		4 years 4 months 2 days
Outstanding \| ¥		¥ 517,605	¥ 517,605	¥ 1,141,255
Vested and expected to vest at ending \| ¥		517,605	517,605
Exercisable at ending \| ¥		287,997	287,997
Unrecognized share-based compensation expense \| ¥		291,247	¥ 291,247
Share-based compensation expenses \| ¥		¥ 234,624		¥ 105,219	¥ 54,283
Unrecognized stock compensation expense, expected to be recognized over a weighted-average period		2 years 4 months 6 days
Weighted average grant-date fair value \| (per share)		¥ 55.08	¥ 55.08	¥ 121.62	¥ 102.74
Options exercised \| ¥		¥ 74,380		¥ 0	¥ 0
Share-based compensation expenses related to share options without IPO condition \| ¥		¥ 228,312		¥ 104,750	¥ 54,283
Share-based compensation expense \| ¥	¥ 79,804

Income Taxes

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

18.	INCOME TAXES

United States

The applicable income tax rate of United States where the Company’s subsidiaries having significant operations for the years ended December 31, 2021, 2022 and 2023 is 27.98%, which is a blended state and federal rate.

PRC

The PRC Enterprise Income Tax Law (“EIT Law”), which became effective on January 1, 2008, applies a uniform enterprise income tax (“EIT”) rate of 25% to both foreign-invested enterprises (“FIEs”) and domestic enterprises. Certified High and New Technology Enterprises (“HNTE”) are entitled to a favorable statutory tax rate of 15%, but need to re-apply every three years. During this three-year period, an HNTE must conduct a qualification self-review each year to ensure it meets the HNTE criteria and is eligible for the 15% preferential tax rate for that year. If an HNTE fails to meet the criteria for qualification as an HNTE in any year, the enterprise cannot enjoy the 15% preferential tax rate in that year, and must instead use the regular 25% EIT rate.

Shanghai Hesai applied for the HNTE qualification and received approval in December 2019, and such qualification was renewed in November 2022 for year 2022 to 2024. Shanghai Hesai was entitled to continue to enjoy the beneficial tax rate of 15% as an HNTE for the years ended December 2021, 2022 and 2023.

18.INCOME TAXES (continued)

PRC - continued

According to relevant laws and regulations promulgated by the State Administration of Tax of the PRC, enterprises engaging in R&D activities are entitled to claim 200% of their qualified research and development expenses so incurred as tax deductible expenses when determining their assessable profits for 2021 and afterwards (“Super Deduction”) when enterprise engage in manufacturing business. The additional deduction of qualified research and development expenses can only be claimed directly in the annual EIT filing and subject to the approval from the relevant tax authorities.

Withholding tax on undistributed dividends

Under the EIT Law enacted by the National People’s Congress of the PRC, dividends generated after January 1, 2008 and payable by a foreign investment enterprise in the PRC to its foreign investors who are non-resident enterprises are subject to a 10% withholding tax, unless any such foreign investor’s jurisdiction of incorporation has a tax treaty with the PRC that provides for a different withholding arrangement.

In accordance with accounting guidance, all undistributed earnings are presumed to be transferred to the parent company and are subject to the withholding taxes. All FIEs are subject to the withholding tax from January 1, 2008. The presumption may be overcome if the Group has sufficient evidence to demonstrate that the undistributed dividends will be re-invested and the remittance of the dividends will be postponed indefinitely. The Group did not record any dividend withholding tax, as it has no retained earnings for any of the years presented.

The EIT Law also provides that an enterprise established under the laws of a foreign country or region but whose “de facto management body” is located in the PRC be treated as a resident enterprise for PRC tax purposes and consequently be subject to the PRC income tax at the rate of 25% for its global income. The Implementing Rules of the EIT Law merely define the location of the “de facto management body” as “the place where the exercising, in substance, of the overall management and control of the production and business operation, personnel, accounting, properties, etc., of a non-PRC company is located.” Based on a review of surrounding facts and circumstances, the Group does not believe that it is likely that its operations outside of the PRC will be considered a resident enterprise for PRC tax purposes. However, due to limited guidance and implementation history of the EIT Law, there is uncertainty as to the application of the EIT Law. Should the Company be treated as a resident enterprise for PRC tax purposes, the Company will be subject to PRC income tax on worldwide income at a uniform tax rate of 25%. The Company is not subject to any other uncertain tax position.

The current and deferred portion of income tax expenses included in the combined and consolidated statements of operations and comprehensive loss are as follows:


	For the Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB
Current tax expenses	—	2	13
Over-provision in prior year	(1,057)	—	—
Deferred tax (benefits) expense	(58)	(68)	645
Income tax (benefits) expenses	(1,115)	(66)	658

18.INCOME TAXES (continued)

Withholding tax on undistributed dividends - continued

Net Loss before income tax by tax jurisdiction:


	For the Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB
Net loss before income tax from PRC operations	(92,498)	(251,302)	(480,479)
Net (loss) gain before income tax from non-PRC operations	(153,444)	(49,529)	5,168
Total net loss before income tax	(245,942)	(300,831)	(475,311)

A reconciliation between the effective income tax rate and the PRC statutory income tax rate is as follows:


	For the Year ended December 31,
	2021		2022		2023
Statutory income tax rate	25.00	%	25.00	%	25.00	%
Effect of different tax rate of different jurisdictions	(4.39)	%	(3.14)	%	(0.79)	%
Non-deductible expenses	(17.98)	%	(6.12)	%	(12.42)	%
Effect of super deduction on R&D expenses	34.83	%	41.00	%	37.21	%
Tax-free income	—		—		0.32	%
Effect of change of valuation allowance	(37.44)	%	(56.76)	%	(49.46)	%
Over provision for prior years	0.43	%	—		—
Income tax expenses	0.45	%	(0.02)	%	(0.14)	%

Deferred tax assets and deferred tax liabilities


	As of December 31,
	2022	2023
	RMB	RMB
Deferred tax assets
– Net operating loss carry forwards	373,215	705,249
– Deductible temporary differences	31,348	72,625
– Deferred revenue	6,294	19,620
Less: valuation allowance	(410,857)	(797,494)
Net deferred tax assets	—	—
Deferred tax liabilities
– Identifiable intangible assets from business combination.	439	—
Total deferred tax liabilities	439	—

18.INCOME TAXES (continued)

Movement of valuation allowance

Movement of valuation allowance is as follow:


	For the Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB
Balance at beginning of the year	136,269	241,485	410,857
Addition	105,216	169,372	386,637
Total	241,485	410,857	797,494

For the years ended December 31, 2021, 2022 and 2023, the Group had net operating loss carry forwards of approximately RMB881,256, RMB1,492,808 and RMB2,850,909, respectively, which mainly arose from the subsidiaries established in the PRC and United States. The loss carry forwards will expire during the period from 2024 to 2033, while the federal loss carry forwards for US entities do not expire and can be carried forward indefinitely. The Group had provided a full valuation allowance for the deferred tax assets as of December 31, 2022, and 2023, as management determined that deferred tax assets were not more likely than not to be realizable in future tax years based on all available evidence.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Income Taxes - Movement of valuation allowance (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Balance at beginning of the year	¥ 410,857	¥ 241,485	¥ 136,269
Addition	386,637	169,372	105,216
Total	797,494	410,857	241,485
Net operating loss carry forwards	¥ 2,850,909	¥ 1,492,808	¥ 881,256

Additional Information of the Parent Company - Notes to Schedule I (Details)	Dec. 31, 2023
Condensed Balance Sheet Statements, Captions [Line Items]
Exchange rate used for translations of balances	7.0999
Parent company \| Reportable legal entities
Condensed Balance Sheet Statements, Captions [Line Items]
Exchange rate used for translations of balances	7.0999

Net Revenues - Accounts receivable and contract balances (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Accounts receivable
Opening Balance	¥ 485,044		¥ 85,821	¥ 56,319
Increase(decrease), net	39,774		399,223	29,502
Ending Balance	524,818	$ 73,919	485,044	85,821
Contract assets
Opening Balance	12,600		146,537	38,337
Increase(decrease), net	7,088		(133,937)	108,200
Ending Balance	19,688	2,773	12,600	146,537
Contract liabilities
Opening Balance	40,378		122,603	9,357
Increase(decrease), net	39,547		(82,225)	113,246
Ending Balance	79,925	$ 11,257	40,378	122,603
Contract liabilities, revenue recognized	¥ 37,111		¥ 109,120	¥ 8,048

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Basis of presentation

The combined and consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

Basis of Consolidation

Use of estimates

Fair value measurements

Level 1 Valuation techniques in which all significant inputs are unadjusted quoted prices from active markets for assets or liabilities that are identical to the assets or liabilities being measured.

Functional currency and foreign currency translation

Cash and cash equivalents

The Group classifies cash on hand and cash in bank with original maturities of three months or less, and are unrestricted as to withdrawal or use, as cash and cash equivalents.

Restricted cash

Restricted cash mainly represents the Group’s security deposits with respect to the Group’s credit card account, withdrawal or use is contractually restricted of these cash balance.

Accounts receivable, net

Inventories

Property and equipment, net

Electronic equipment		3 – 5 years
Machinery and equipment		10 years
Furniture and fixture		5 years
Transportation vehicles		4 years
Leasehold improvements		Over the shorter of the expected lease term or useful lives

Land held by the Group in perpetuity is not depreciated and is stated at cost less impairment.

Intangible assets, net

Software		3 – 10 years
Technology		3 – 8 years

Land-use rights, net

Goodwill

Long-term investments

Investment in equity method investee

Equity securities without readily determinable fair value

Revenue recognition

Changes in the Group’s accrued warranty liability was as follows:


	For the Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB
Balance as of the beginning of the year	10,042	13,932	17,694
Warranty provision	10,766	8,467	26,247
Consumption	(6,876)	(4,705)	(15,516)
Balance as of the end of the year	13,932	17,694	28,425

Cost of revenues

Research and development expenses

Government grants

Loss per share

Basic loss per share is computed by dividing net loss attributable to the holders of ordinary shares by the weighted average number of ordinary shares outstanding during the year.

Share-based compensation

The Group grants share-based awards of the Company to eligible employees and accounts for these share-based awards in accordance with ASC 718, Compensation - Stock Compensation.

Income Taxes

Current income taxes are provided for in accordance with the laws of the relevant tax authorities.

Leases

The impact on the combined and consolidated balance sheets upon adoption of ASC842 was as follows:


	December 31, 2021	January 1, 2022
		Effect of the	After adoption
	As reported	adoption of ASC 842	of ASC 842
	RMB	RMB	RMB
ASSETS
Right-of-use assets	—	36,030	36,030
TOTAL ASSETS	—	36,030	36,030
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accrued expenses and other current liabilities	569	12,566	13,135
Lease liabilities, non-current	—	23,464	23,464
TOTAL LIABILITIES	569	36,030	36,599
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT	569	36,030	36,599

Comprehensive income (loss)

Segment

The Chief Executive Officer, Chief Scientist and Chief Technology Officer (collectively referred to the “founders”) are identified as the chief operating decision maker (CODM).

The Group organized its operations into two segments: LiDAR segment and gas detection segment. The financial information of the respective segments is disclosed in Note 22.

Concentration of risks

Concentration of credit risk

Concentration of customers

The following customers accounted for 10% or more of revenue for the years ended December 31, 2021, 2022 and 2023:


	For the Year ended
	December 31,
	2021		2022		2023
Customer A	*		24.3	%	25.6	%
Customer B	17.5	%	13.7	%	28.4	%
Customer C	12.7	%	*		*

The following customers accounted for 10% or more of the Group’s accounts receivable, contract assets and amount due from related parties as of December 31, 2022 and 2023:


	As of December 31,
	2022		2023
Customer A	61.0	%	41.3	%
Customer B	15.3	%	10.2	%
Customer D	*		11.2	%

Concentration of suppliers

The Group has one supplier accounted for 10% or more of purchases for the years ended December 31, 2021 and 2022:


	For the Year ended December 31,
	2021		2022		2023
Supplier A	13.7	%	12.3	%	*

Foreign currency risk

Recent accounting pronouncements

Convenience translation

Inventories (Tables)

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Schedule of inventories


	As of December 31,
	2022	2023
	RMB	RMB
Raw materials	290,121	126,347
Work-in-process	180,367	199,153
Finished goods	176,364	170,377
Inventories	646,852	495,877

Combined and Consolidated Statements of Operations and Comprehensive Loss (Parenthetical) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Revenue from Related Parties	¥ 0	¥ 0	¥ 15,655
Other comprehensive (loss) income, net of tax	¥ 0	¥ 0	¥ 0

- Definition

+ References

+ Details

Segment

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment

22.

SEGMENT

The Group organized its operations into two segments: LiDAR segment and gas detection segment.

The table below provides a summary of the Group’s operating segment results for the years ended December 31, 2021, 2022 and 2023:


	Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB
LiDAR segment
Revenue:
Product revenues	686,533	1,127,900	1,738,027
Service revenues	14,702	50,803	112,099
Cost:
Cost of products sold	326,160	707,617	1,176,472
Cost of service revenues	4,609	12,683	30,329
Segment profit	370,466	458,403	643,325

Gas detection segment
Gas detection product revenues	19,533	23,967	26,863
Cost of products sold	8,203	10,383	8,810
Segment profit	11,330	13,584	18,053

Total segment profit	381,796	471,987	661,378

On November 15, 2023, the Group disposed 100% equity interest of its subsidiary, Oxigraf, Inc. which consisted of the gas detection segment, and related US intellectual property right at a total consideration of US$3.7 million. The gain on disposal was US$0.9 million (equivalent to RMB6.1 million) and has been recognized in other operating income of the combined and consolidated statement of comprehensive income. This disposal did not meet the criteria to the presented as a discontinued operation. Upon this disposal, the Company will no longer report in the gas detection segment.

The following is a reconciliation of the reportable segments’ measures of profit or loss to the Group’s consolidated loss before income taxes:


	Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB
Total profit for reportable segments	381,796	471,987	661,378
Unallocated amounts*
Sales and marketing expenses	(69,266)	(104,835)	(148,798)
General and administrative expenses	(236,713)	(201,007)	(320,144)
Research and development expenses	(368,435)	(555,179)	(790,547)
Other operating income, net	27,333	10,817	26,520
Interest income	32,584	58,734	99,813
Interest expenses	—	—	(3,069)
Foreign exchange (loss) gains	(13,275)	20,858	(452)
Other (loss) income, net	118	(2,161)	34
Loss before income tax	(245,858)	(300,786)	(475,265)

*The Group does not distinguish expenses between segments in its internal reporting, and reports expenses by nature as a whole.

22.	SEGMENT (continued)

The following table summarizes the Group’s long-term assets, including property and equipment, net, land-use rights, net, long-term investments, right-of-use assets, and other non-current assets by geographical region:


	As of December 31,
	2022	2023
	RMB	RMB
Mainland China	665,511	1,144,643
Thailand	—	39,312
North America	14,351	2,146
Switzerland	—	103
Total long-term assets	679,862	1,186,204

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Land-Use Rights, Net

12 Months Ended

Dec. 31, 2023

Land-Use Rights [Abstract]

Land-Use Rights, Net

8.	LAND-USE RIGHTS, NET

In March 2021, the Group acquired a land-use right at a total cost of RMB43,188 for approximately 26,615 square meters of land in Shanghai, the PRC for the construction of a factory. According to the land-use rights policy in the PRC, the Group has a 50-year use right over the land, and it is amortized over this period on a straight - line basis. The Group recorded amortization expenses of RMB718, RMB864, and RMB863 for the years ended December 31, 2021, 2022 and 2023, respectively. The weighted average remaining lease term was 47.19 years as of December 31, 2023.

Loss per Share - Anti-dilutive securities (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares issuable upon exercise of share options	10,405,042	9,668,634	9,173,623
Share options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares issuable upon exercise of share options	10,191,721	9,608,634	9,173,623
Restricted share unit
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares issuable upon exercise of share options	153,321
Tandem award
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares issuable upon exercise of share options	60,000	60,000

Summary of Significant Accounting Policies - Additional information (Details) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥) segment	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Jul. 31, 2022 CNY (¥)
Concentration Risk [Line Items]
Government grants related to unfulfilled obligations	¥ 53,668	¥ 0	¥ 0
Government grants income	14,280	10,825	27,446
Income tax, unrecognized	¥ 0	0	¥ 0
Number of operating segments \| segment	2
Fair value investments recognized	¥ 0	¥ 0		¥ 30,000
Revenue \| Customer concentration \| Customer A
Concentration Risk [Line Items]
Percentage of concentration risk	25.60%	24.30%
Revenue \| Customer concentration \| Customer B
Concentration Risk [Line Items]
Percentage of concentration risk	28.40%	13.70%	17.50%
Revenue \| Customer concentration \| Customer C
Concentration Risk [Line Items]
Percentage of concentration risk			12.70%
Accounts receivables \| Customer concentration \| Customer A
Concentration Risk [Line Items]
Percentage of concentration risk	41.30%	61.00%
Accounts receivables \| Customer concentration \| Customer B
Concentration Risk [Line Items]
Percentage of concentration risk	10.20%	15.30%
Accounts receivables \| Customer concentration \| Customer D
Concentration Risk [Line Items]
Percentage of concentration risk	11.20%
Accounts payable \| Supplier concentration \| Supplier A
Concentration Risk [Line Items]
Percentage of concentration risk		12.30%	13.70%

Summary of Significant Accounting Policies - Impact of Adoption of ASC842 (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease liabilities	¥ 154,406		¥ 45,114
Assets
Operating lease right-of-use assets	151,871	$ 21,391	44,349
Liabilities, Mezzanine Equity and Shareholders' (Deficit) Equity
Accrued liabilities and other liabilities, as reported				¥ 569
Liabilities, total, as reported				569
Liabilities and equity, total, as reported				¥ 569
Accrued expenses and other current liabilities	¥ 34,993		¥ 34,975
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities and Other Liabilities	Accrued Liabilities and Other Liabilities	Accrued Liabilities and Other Liabilities	Accrued Liabilities and Other Liabilities
Operating lease liabilities	¥ 119,413	$ 16,819	¥ 10,139
ASC 842 \| Effect
Assets
Operating lease right-of-use assets				¥ 36,030
TOTAL ASSETS				36,030
Liabilities, Mezzanine Equity and Shareholders' (Deficit) Equity
Accrued expenses and other current liabilities				12,566
Operating lease liabilities				23,464
TOTAL LIABILITIES				36,030
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT				36,030
ASC 842 \| After adoption
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease liabilities				36,599
Assets
Operating lease right-of-use assets				36,030
TOTAL ASSETS				36,030
Liabilities, Mezzanine Equity and Shareholders' (Deficit) Equity
Accrued expenses and other current liabilities				13,135
Operating lease liabilities				23,464
TOTAL LIABILITIES				36,599
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT				¥ 36,599

Borrowings - Principal maturities of the long-term borrowings (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
2025	¥ 85,728	¥ 5,542
2026	85,728	5,542
2027	111,926	7,388
2028 and after	2,516
Total	¥ 285,898	¥ 18,472

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Notes Payable (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Notes Payable, Noncurrent [Abstract]
Notes payable	¥ 7,255	¥ 0

Long-Term Investments (Tables)

12 Months Ended

Dec. 31, 2023

Equity Method Investments and Joint Ventures [Abstract]

Schedule of investment in equity method investee


	As of December 31,
	2022	2023
	RMB	RMB
Investments in equity securities	30,000	30,000
Investments in equity method investee	1,856	1,811
Total	31,856	31,811

Organization and Nature of Operations

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Nature of Operations

1.ORGANIZATION AND NATURE OF OPERATIONS

Description of Business and Corporate History

Hesai Group (the “Company”) was incorporated under the laws of the Cayman Islands on April 21, 2021. The Company, together with its subsidiaries (collectively, the “Group”) is primarily engaged in the development, manufacture and sales of 3-dimensional light detection and ranging solutions, or LiDAR.

History of the Group

The Group’s history began in October 2014 with the establishment of Shanghai Hesai Photonics Co., Ltd. (“Hesai Photonics”), a limited liability company established in the People’s Republic of China (the “PRC”) by Mr. Kai Sun, Mr. Yifan Li and Mr. Shaoqing Xiang (collectively known as the “Founding Shareholders”). In August 2020, Hesai Photonics was converted by its then shareholders into a joint stock company under the PRC law and changed its name to Hesai Technology Co., Ltd (“Shanghai Hesai”).

2021 Reorganization

In 2021, the Founding Shareholders and all of the investors of Shanghai Hesai undertook an equity restructuring in order to re-domicile its business from the PRC to the Cayman Islands (the “2021 Reorganization”), which was executed in the following steps:

In April 2021, the Company was incorporated in the Cayman Islands to be the holding company of the Group. On May 6, 2021, the Company established Hesai Hong Kong Limited (“Hesai HK”) in Hong Kong, a wholly owned subsidiary to be the intermediate holding company.

In June 2021, the Company through Hesai HK acquired 100% of the equity interest of Shanghai Hesai from the Founding Shareholders and its investors, thus Shanghai Hesai became the wholly owned subsidiary of the Company.

In May and June 2021, the Founding Shareholders subscribed to 30,033,379 Class A ordinary shares and the existing investors subscribed to 62,834,548 Class B ordinary shares of the Company, on an as-converted basis, at the same proportion of the equity interest they held in Shanghai Hesai.

The main purpose of the 2021 Reorganization was to establish a Cayman Islands holding company for the existing business in preparation for an overseas initial public offering. The Group has accounted for the 2021 Reorganization as transaction between entities with common ownership, which is akin to a reorganization of entities under common control. Upon completion of the 2021 Reorganization, per share information of the Company has been retrospectively presented from the earliest period in the combined and consolidated financial statements presented.

Pursuant to a framework agreement entered into by the Founding Shareholders and all of the investors of Shanghai Hesai, the consideration paid by the Company to acquire the equity interest of Shanghai Hesai is to be reinvested in the Company as capital contribution for subscription of ordinary shares at Hesai Group. For the recapitalization in connection with the 2021 Reorganization, only RMB 817,847 was required to be settled through cash redemption by Shanghai Hesai and cash investment at the Company level in accordance with foreign currency control regulations within the PRC. RMB 507,620 has been settled during 2021 and RMB 17,506 has been settled during 2023 with the remaining of RMB 292,721 recorded as subscription receivables as December 31, 2023 pending relevant government approval (See Note 20).

The shareholder further agreed that for certain shareholders, mainly the Founding Shareholders and a few early investors, given that they are liable to make capital gain tax payments to the PRC tax bureau for the sales of their equity interest in Shanghai Hesai, their capital contribution amount at the Cayman Islands level can be done net of the tax liabilities incurred. These tax payments amounted to RMB 82,347, are recorded as general and administrative expenses as they represented tax costs absorbed by the Group as part of the reorganization only for a few investors and not considered to be pro-rata distribution to all shareholders.

1.ORGANIZATION AND NATURE OF OPERATIONS (continued)

Initial Public Offering (“IPO”)

In February and March 2023, the Group, in connection with its IPO in the United States, issued 10,125,118 Class B ordinary shares with net proceeds of US$179,786 (equivalent to RMB1,225,470).

Segment - Long-term assets (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-term assets	¥ 1,186,204	¥ 679,862
Mainland China
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-term assets	1,144,643	665,511
Thailand
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-term assets	39,312
North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-term assets	2,146	¥ 14,351
Switzerland
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-term assets	¥ 103

Ordinary Shares

12 Months Ended

Dec. 31, 2023

Stockholders' Equity Note [Abstract]

Ordinary Shares

16.	ORDINARY SHARES

Holders of Class A ordinary shares and Class B ordinary shares of the Company have the same rights, except for voting rights. Holders of Class A ordinary shares are entitled to ten votes per share in all shareholders’ meetings, while holders of Class B ordinary shares are entitled to one vote per share.

In February and March 2023, 54,551,513 redeemable shares were reclassified into Class B ordinary shares upon IPO and the Company issued 10,125,118 Class B ordinary shares in connection with its IPO in the United States.

In August 2023, 4,000,000 Class B ordinary shares were issued to the Company’s depositary bank, Deutsche Bank, reserved for future issuances of shares upon the exercises of share options or vesting of restricted shares under the 2021 Share Incentive Plan. These shares are considered to be issued and not outstanding until such a time when the issuance occur for the exercise of share options or vesting of restricted shares. As of December 31, 2023, 2,631,222 shares are remained to be issued and not outstanding.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2023 shares
Document Information [Line Items]
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Period End Date	Dec. 31, 2023
Entity File Number	001-41611
Entity Registrant Name	Hesai Group
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	9th Floor, Building L2-B
Entity Address, Address Line Two	1588 Zhuguang Road, Qingpu District
Entity Address, City or Town	Shanghai
Entity Address, Postal Zip Code	201702
Entity Address, Country	CN
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Document Accounting Standard	U.S. GAAP
Entity Shell Company	false
Entity Central Index Key	0001861737
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Auditor Name	Deloitte Touche Tohmatsu Certified Public Accountants LLP
Auditor Location	Shanghai, the People’s Republic of China
Auditor Firm ID	1113
American depositary shares
Document Information [Line Items]
Title of 12(b) Security	American depositary shares, each representing one Class B ordinary share
Trading Symbol	HSAI
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding	2,631,222
Class B ordinary share
Document Information [Line Items]
Title of 12(b) Security	Class B ordinary share, par value US$0.0001 per share
Security Exchange Name	NASDAQ
No Trading Symbol Flag	true
Entity Common Stock, Shares Outstanding	96,995,110
Class A ordinary share
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	30,033,379
Business Contact
Document Information [Line Items]
Contact Personnel Name	Louis T. Hsieh, Global Chief Financial Officer
Entity Address, Address Line One	9th Floor, Building L2-B
Entity Address, Address Line Two	1588 Zhuguang Road
Entity Address, Address Line Three	Qingpu District
Entity Address, City or Town	Shanghai
Entity Address, Postal Zip Code	201702
Entity Address, Country	CN
Contact Personnel Email Address	ir@hesaitech.com
Country Region	+86
City Area Code	21
Local Phone Number	3158-8240

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of current and deferred portion of income tax expenses


	For the Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB
Current tax expenses	—	2	13
Over-provision in prior year	(1,057)	—	—
Deferred tax (benefits) expense	(58)	(68)	645
Income tax (benefits) expenses	(1,115)	(66)	658

Schedule of net loss before income tax


	For the Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB
Net loss before income tax from PRC operations	(92,498)	(251,302)	(480,479)
Net (loss) gain before income tax from non-PRC operations	(153,444)	(49,529)	5,168
Total net loss before income tax	(245,942)	(300,831)	(475,311)

Schedule of reconciliation between the effective income tax rate and statutory income tax rate


	For the Year ended December 31,
	2021		2022		2023
Statutory income tax rate	25.00	%	25.00	%	25.00	%
Effect of different tax rate of different jurisdictions	(4.39)	%	(3.14)	%	(0.79)	%
Non-deductible expenses	(17.98)	%	(6.12)	%	(12.42)	%
Effect of super deduction on R&D expenses	34.83	%	41.00	%	37.21	%
Tax-free income	—		—		0.32	%
Effect of change of valuation allowance	(37.44)	%	(56.76)	%	(49.46)	%
Over provision for prior years	0.43	%	—		—
Income tax expenses	0.45	%	(0.02)	%	(0.14)	%

Schedule of deferred tax assets and deferred tax liabilities


	As of December 31,
	2022	2023
	RMB	RMB
Deferred tax assets
– Net operating loss carry forwards	373,215	705,249
– Deductible temporary differences	31,348	72,625
– Deferred revenue	6,294	19,620
Less: valuation allowance	(410,857)	(797,494)
Net deferred tax assets	—	—
Deferred tax liabilities
– Identifiable intangible assets from business combination.	439	—
Total deferred tax liabilities	439	—

Schedule of movement of valuation allowance


	For the Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB
Balance at beginning of the year	136,269	241,485	410,857
Addition	105,216	169,372	386,637
Total	241,485	410,857	797,494

Income Taxes - Net Loss before income tax (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Net loss before income tax from PRC operations	¥ (480,479)	¥ (251,302)	¥ (92,498)
Net (loss) gain before income tax from non-PRC operations	5,168	(49,529)	(153,444)
Total net loss before income tax	¥ (475,311)	¥ (300,831)	¥ (245,942)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 25
-Paragraph 1
-SubTopic 20
-Topic 940
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481913/940-20-25-1

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Redeemable Shares (Details) ¥ in Thousands		1 Months Ended		3 Months Ended	12 Months Ended
Redeemable Shares (Details) ¥ in Thousands	Feb. 09, 2023 shares	Mar. 31, 2023 shares	Feb. 28, 2023 shares	Jun. 30, 2021 CNY (¥) shares	Dec. 31, 2022 CNY (¥) shares	Dec. 31, 2021 CNY (¥)	Dec. 31, 2023 shares
Temporary Equity [Line Items]
Threshold period from dates of the agreements to complete overseas IPO				12 months
Compounded interest rate				8.00%
Number of shares					0		0
Fair value of the reclassified shares \| ¥				¥ 2,131,572
Deemed dividend \| ¥					¥ 446,419	¥ 2,211,330
Accretion in redemption value of redeemable shares \| ¥					446,419	79,758
Class B
Temporary Equity [Line Items]
Option to re-designate to preferred shares on failure to complete overseas IPO with in the threshold period, shares				54,551,513
Number of shares reclassified from permanent to mezzanine equity	54,551,513	54,551,513	54,551,513	54,551,513
Share conversion ratio	1
Number of shares	54,551,513
Number of shares issued		10,125,118	10,125,118
Series D
Temporary Equity [Line Items]
Deemed dividend \| ¥					¥ 446,419	¥ 79,758

Other Non-Current Assets (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)
Other Assets, Noncurrent [Abstract]
Prepayments for purchase of property and equipment	¥ 77,596		¥ 46,083
Demonstration fleet	3,819		4,936
Long-term deposits	8,612		3,836
Others	141		2,243
Other non-current assets	¥ 90,168	$ 12,700	¥ 57,098

Leases - Maturities of lease liabilities (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)
Leases [Abstract]
2023			¥ 36,025
2024	¥ 38,305		7,145
2025	25,951		3,282
2026	24,672
2027	24,877
2028	27,139
2029	24,877
Total lease payment	165,821		46,452
Less: imputed interest	(11,415)		(1,338)
Present value of minimum operating lease payments	154,406		45,114
Less: Current operating lease liabilities	(34,993)		(34,975)
Long-term operating lease liabilities	¥ 119,413	$ 16,819	¥ 10,139

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of assumptions used to estimate the fair values of the share options granted


	For the year ended December 31,
	2021		2022		2023
Expected volatility	48.00% - 74.00	%	74.00% – 80.00	%	82.00% - 85.00	%
Risk-free interest rate (per annum)	0.97% - 1.55	%	1.94% – 3.83	%	3.57% - 4.47	%
Expected dividend yield	0.00	%	0.00	%	0.00	%
Employee forfeiture rate (per annum)	3.80	%	3.80% – 3.92	%	2.40% - 7.50	%
Exercise multiples	2.50		2.50		2.50
Expected term	7.00		7.00		7.00
Fair value of underlying ordinary share (per share)	US$14.10 - 18.42		US$18.11 – 19.91		US$7.95 - 15.47
Fair value of awards on valuation date	US$5.84 - 19.90		US$12.93 – 17.11		US$5.38 - 10.51

Schedule of stock option activity


				Weighted
		Weighted	Weighted	average
	Number	average	average	remaining	Aggregate
	of	exercise	grant date	contract	intrinsic
	options	price	fair value	life	value
		RMB	RMB	Years	RMB
Outstanding at December 31, 2022	9,608,634	12.51	65.93	5.46	1,141,255
Granted	2,422,714	14.49	55.08	—	—
Forfeited	506,540	44.32	—	—	—
Exercised	1,333,087	16.59	—	—	74,380
Outstanding at December 31, 2023	10,191,721	16.07	62.08	4.97	517,605
Vested and expected to vest as of December 31, 2023	10,191,721	16.07	62.08	4.97	517,605
Exercisable as of December 31, 2023	5,335,293	15.74	50.36	4.34	287,997

Schedule of RSUs classified as equity


		Weighted
	Numbers of	average grant
	RSUs	date fair value
		RMB
Outstanding at January 1, 2023	—	—
Granted	189,012	76.52
Forfeited	—
Exercised	35,691
Outstanding at December 31, 2023	153,321	76.06
Vested and expected to vest as of December 31, 2023	153,321	76.06
Exercisable as of December 31, 2023	—	—

Schedule of share-based compensation for all employee share options, restricted share units and tandem award


	For the Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB
Cost of revenues	1,813	8,037	16,245
Sales and marketing expenses	1,488	6,291	20,682
General and administrative expenses	38,892	48,998	63,326
Research and development expenses	12,090	41,893	134,371
Total	54,283	105,219	234,624

Leases - Additional Information (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2023 USD ($)
Leases [Abstract]
Operating lease right-of-use assets	¥ 151,871	¥ 44,349		$ 21,391
Current portion of operating lease liabilities	34,993	34,975
Long-term operating lease liabilities	¥ 119,413	¥ 10,139		$ 16,819
Weighted average remaining lease term	5 years 5 months 23 days			5 years 5 months 23 days
Weighted average discount rate	2.85%	4.25%		2.85%
Lease expenses	¥ 37,878	¥ 34,596	¥ 21,792
Short-term leases not capitalized	2,136	2,136	¥ 2,136
Cash payments for operating lease liabilities	35,982	28,136
Right-of-use assets obtained in exchange for operating lease liabilities	¥ 133,661	¥ 37,414

Income Taxes - Current and deferred portion (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Income Tax Disclosure [Abstract]
Current tax expenses	¥ 13		¥ 2
Over-provision in prior year				¥ (1,057)
Deferred tax (benefits) expense	645		(68)	(58)
Income tax (benefits) expenses	¥ 658	$ 93	¥ (66)	¥ (1,115)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Segment (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of operating segment results


	Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB
LiDAR segment
Revenue:
Product revenues	686,533	1,127,900	1,738,027
Service revenues	14,702	50,803	112,099
Cost:
Cost of products sold	326,160	707,617	1,176,472
Cost of service revenues	4,609	12,683	30,329
Segment profit	370,466	458,403	643,325

Gas detection segment
Gas detection product revenues	19,533	23,967	26,863
Cost of products sold	8,203	10,383	8,810
Segment profit	11,330	13,584	18,053

Total segment profit	381,796	471,987	661,378

Schedule of reconciliation of the reportable segments' to consolidated loss before income tax


	Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB
Total profit for reportable segments	381,796	471,987	661,378
Unallocated amounts*
Sales and marketing expenses	(69,266)	(104,835)	(148,798)
General and administrative expenses	(236,713)	(201,007)	(320,144)
Research and development expenses	(368,435)	(555,179)	(790,547)
Other operating income, net	27,333	10,817	26,520
Interest income	32,584	58,734	99,813
Interest expenses	—	—	(3,069)
Foreign exchange (loss) gains	(13,275)	20,858	(452)
Other (loss) income, net	118	(2,161)	34
Loss before income tax	(245,858)	(300,786)	(475,265)

*The Group does not distinguish expenses between segments in its internal reporting, and reports expenses by nature as a whole.

Schedule of long-term assets disaggregated by the different geographic locations


	As of December 31,
	2022	2023
	RMB	RMB
Mainland China	665,511	1,144,643
Thailand	—	39,312
North America	14,351	2,146
Switzerland	—	103
Total long-term assets	679,862	1,186,204

Net Revenues (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Schedule of net revenues


	For the Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB
Product revenues
Revenue from LiDAR products	685,333	1,122,237	1,735,254
Revenue from gas detection products	19,533	23,967	26,863
Other revenues	1,200	5,663	2,773
Service revenues
Engineering design, development and validation service and solution revenue	14,026	43,101	100,493
Other service revenues	676	7,702	11,606
Total	720,768	1,202,670	1,876,989


	For the Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB

Revenue recognized at a point of time	706,066	1,175,758	1,783,803
Revenue recognized over time	14,702	26,912	93,186
Total	720,768	1,202,670	1,876,989


	For the Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB
Revenue by geographic location
Mainland China	269,634	697,294	991,912
North America	352,981	358,549	748,147
Europe	67,912	86,153	70,500
Other regions	30,241	60,674	66,430
Total	720,768	1,202,670	1,876,989

Schedule of movements of the accounts receivable and contract balances


	Accounts	Contract	Contract
	Receivable	assets	liabilities
	RMB	RMB	RMB
Opening Balance as of January 1, 2021	56,319	38,337	9,357
Increase, net	29,502	108,200	113,246
Ending Balance as of December 31, 2021	85,821	146,537	122,603
Increase(decrease), net	399,223	(133,937)	(82,225)
Ending Balance as of December 31, 2022	485,044	12,600	40,378
Increase(decrease), net	39,774	7,088	39,547
Ending Balance as of December 31, 2023	524,818	19,688	79,925

Income Taxes - Reconciliation between the Effective and Statutory Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax [Line Item]
Statutory income tax rate	25.00%	25.00%	25.00%
Effect of different tax rate of different jurisdictions	(0.79%)	(3.14%)	(4.39%)
Non-deductible expenses	(12.42%)	(6.12%)	(17.98%)
Effect of super deduction on R&D expenses	37.21%	41.00%	34.83%
Tax-free income	0.32%
Effect of change of valuation allowance	(49.46%)	(56.76%)	(37.44%)
Over provision for prior years			0.43%
Income tax expenses	(0.14%)	(0.02%)	0.45%

Land-Use Rights, Net (Details) ¥ in Thousands	1 Months Ended	12 Months Ended
Land-Use Rights, Net (Details) ¥ in Thousands	Mar. 31, 2021 CNY (¥) m²	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Finite-Lived Intangible Assets [Line Items]
Purchases of land-use right				¥ 43,188
Amortization expenses		¥ 7,704	¥ 7,914	6,326
Weighted average remaining lease term		47 years 2 months 8 days
Land-use rights
Finite-Lived Intangible Assets [Line Items]
Useful life of intangible assets		50 years
Land-use rights \| Land in Shanghai
Finite-Lived Intangible Assets [Line Items]
Purchases of land-use right	¥ 43,188
Number of square meters acquired \| m²	26,615
Useful life of intangible assets	50 years
Amortization expenses		¥ 863	¥ 864	¥ 718

Borrowings (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of short-term and long-term borrowings


	As of December 31,
	2022	2023
	RMB	RMB
Short-term borrowings:
Short-term bank borrowings	—	109,900
Long-term bank borrowings, current portion	—	1,782
Total	—	111,682
Long-term borrowings:
Long-term bank borrowings	18,472	285,898

Schedule of principal maturities of the long-term borrowings


	As of	As of
	December 31,	December 31,
	2022	2023
	RMB	RMB

2025	5,542	85,728
2026	5,542	85,728
2027	7,388	111,926
2028 and after	—	2,516
Total	18,472	285,898

Additional Information of the Parent Company

12 Months Ended

Dec. 31, 2023

Condensed Financial Information Disclosure [Abstract]

Additional Information of the Parent Company

ADDITIONAL INFORMATION OF THE PARENT COMPANY

FINANCIAL STATEMENTS SCHEDULE I

HESAI GROUP

CONDENSED BALANCE SHEETS

AS OF DECEMBER 31, 2022 and 2023

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


	As of December 31,
	2022	2023
	RMB	RMB	US$
			(Note 2)
ASSETS
Cash and cash equivalents	35,411	363,778	51,237
Short-term investments	—	581,962	81,968
Prepayments and other current assets	1,041	8,005	1,127
Investments in subsidiaries	2,806,201	2,929,800	412,653
Property and equipment, net	7	5	1
TOTAL ASSETS	2,842,660	3,883,550	546,986
LIABILITIES AND SHAREHOLDERS’ (DEFICIT) EQUITY
Amounts due to subsidiaries	—	14,024	1,975
Accrued expenses and other current liabilities	927	7,208	1,015
TOTAL LIABILITIES	927	21,232	2,990
MEZZANINE EQUITY
Redeemable shares (US$0.0001 par value, 54,551,513 and nil shares issued and outstanding as of December 31, 2022 and December 31, 2023, respectively)	5,986,910	—	—
TOTAL MEZZANINE EQUITY	5,986,910	—	—

Shareholders’ (deficit) equity
Class A Ordinary shares (US$0.0001 par value, 35,000,000 and 50,000,000 shares authorized, 30,033,379 shares issued and outstanding as of December 31, 2022 and 2023, respectively)	19	19	3
Class B Ordinary shares (US$0.0001 par value, 150,000,000 and 900,000,000 shares authorized, 30,949,701 and 99,626,332 shares issued, 30,949,701 and 96,995,110 shares outstanding as of December 31, 2022 and 2023, respectively)	20	67	9
Additional paid-in capital	—	7,423,862	1,045,629
Subscription receivables	(310,227)	(292,721)	(41,229)
Accumulated other comprehensive (loss) income	(3,608)	38,440	5,414
Accumulated deficit	(2,831,381)	(3,307,349)	(465,830)
Total shareholders’ (deficit) equity	(3,145,177)	3,862,318	543,996
TOTAL LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ (DEFICIT) EQUITY	2,842,660	3,883,550	546,986

ADDITIONAL INFORMATION OF THE PARENT COMPANY

FINANCIAL STATEMENTS SCHEDULE I

HESAI GROUP

CONDENSED STATEMENTS OF

OPERATIONS AND COMPREHENSIVE LOSS

FOR THE YEARS ENDED DECEMBER 31, 2021, 2022 and 2023

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


	For the years ended December 31,
	2021	2022	2023
	RMB	RMB	RMB	US$
				(Note 2)
Net revenues	—	—	—	—
General and administrative expenses	(146,838)	(37,105)	(98,099)	(13,817)
Interest income	—	—	42,402	5,972
Foreign exchange (loss) gain	(2,324)	2	(12)	(2)
Other income, net	34	—	—	—
Equity in deficit of subsidiaries	(95,699)	(263,662)	(420,259)	(59,192)
Net Loss	(244,827)	(300,765)	(475,968)	(67,039)
Deemed dividend	(2,211,330)	(446,419)	—	—
Net loss attributable to ordinary shareholders of the Company	(2,456,157)	(747,184)	(475,968)	(67,039)

Net Loss	(244,827)	(300,765)	(475,968)	(67,039)
Comprehensive loss, net of tax of nil:
Foreign currency translation adjustments	9,083	(12,073)	42,048	5,922
Comprehensive loss	(235,744)	(312,838)	(433,920)	(61,117)

ADDITIONAL INFORMATION OF THE PARENT COMPANY

FINANCIAL STATEMENTS SCHEDULE I

HESAI GROUP

CONDENSED STATEMENTS OF CASH FLOWS

FOR THE YEARS ENDED DECEMBER 31, 2021, 2022 and 2023

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


	Year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB	US$
				(Note 2)
Cash flows from operating activities:
Net loss	(244,827)	(300,765)	(475,968)	(67,039)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	—	2	3	1
Loss from equity in earnings of subsidiaries	95,699	263,662	420,259	59,192
Share-based compensation	35,056	33,342	42,379	5,969
Fair value change of short-term investments	—	—	(12,500)	(1,761)
Foreign exchange loss (gain), net	2,324	(2)	12	2
Changes in operating assets and liabilities:
Prepayments and other current assets	(496)	(545)	(1,544)	(217)
Amounts due from related parties	(255)	—	—	—
Accrued expenses and other current liabilities	24,746	2,611	6,281	885
Net cash used in operating activities	(87,753)	(1,695)	(21,078)	(2,968)
Cash flows from investing activities:
Purchases of short-term investments	—	—	(742,287)	(104,552)
Maturity of short-term investments	—	—	176,302	24,832
Purchases of property and equipment	—	(10)	—	—
Investments in subsidiaries	(2,787,570)	—	(379,237)	(53,414)
Net cash used in investing activities	(2,787,570)	(10)	(945,222)	(133,134)
Cash flows from financing activities:
Cash contribution from shareholders in connection with the 2021 Reorganization	507,620	—	17,506	2,466
Proceeds from issuance of convertible loans	1,950,338	—	—	—
Proceeds from issuance of ordinary shares	453,978	—	1,225,470	172,604
Payment of offering costs	—	—	(22,828)	(3,215)
Proceeds from issuance of ordinary shares upon the exercise of stock options	—	—	2,872	405
Collection of payments due to subsidiaries	—	—	14,024	1,975
Net cash provided by financing activities	2,911,936	—	1,237,044	174,235
Net increase (decrease) in cash and cash equivalents	36,613	(1,705)	270,744	38,133
Cash and cash equivalents, beginning of the year	—	36,160	35,411	4,988
Effect of foreign exchange rate changes on cash and cash equivalents	(453)	956	57,623	8,116
Cash and cash equivalents, end of the year	36,160	35,411	363,778	51,237
Supplemental disclosure of non-cash financing activities:
Accrued purchases of property and equipment	1,950,338	—	—	—
Accrued offering cost	—	480	—	—

ADDITIONAL FINANCIAL INFORMATION OF PARENT COMPANY

FINANCIAL STATEMENTS SCHEDULE I

HESAI GROUP

FINANCIAL INFORMATION OF PARENT COMPANY

NOTES TO SCHEDULE I

1.Schedule I has been provided pursuant to the requirements of Rule 12-04(a) and 5-04(c) of SEC Regulation S-X, which requires condensed financial information as to the financial position, changes in financial position and results of operations of a parent company as of the same date and for the same period for which audited financial statements have been presented when the restricted net assets of consolidated subsidiaries exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year. The Company does not include condensed financial information as to the changes in deficit as such financial information is the same as the consolidated statements of changes in shareholders’ deficit.

2.The condensed financial information has been prepared using the same accounting policies as set out in the financial statements except that the equity method has been used to account for investments in its subsidiaries. For the parent company, the Company records its investments in subsidiaries under the equity method of accounting as prescribed in ASC 323, Investments - Equity Method and Joint Ventures. Such investments are presented on the Condensed Balance Sheet as “Investment in subsidiaries” and the subsidiaries’ profit or loss as “Loss from equity in earnings of subsidiaries” on the Condensed Statements of Comprehensive Loss. Ordinarily under the equity method, an investor in an equity method investee would cease to recognize its share of the losses of an investee once the carrying value of the investment has been reduced to nil absent an undertaking by the investor to provide continuing support and fund losses. For the purpose of this Schedule I, the parent company has continued to reflect its share, based on its proportionate interest, of the losses of subsidiaries regardless of the carrying value of the investment even though the parent company is not obligated to provide continuing support or fund losses.

3.As of December 31, 2022 and 2023, there were no material contingencies, significant provisions of long-term obligations, guarantees of the Company.

4.Translations of balances from RMB into US$ as of and for the year ended December 31, 2023 are solely for the convenience of the readers and were calculated at the rate of US$1.00= RMB7.0999, as set forth in H.10 statistical release of the Federal Reserve Board on December 29, 2023. The translation is not intended to imply that the RMB amounts could have been, or could be, converted, realized or settled into United States dollars at that rate on December 31, 2023, or at any other rate.

Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of companies that are related parties


Name of the related parties		Relationship
Mr. Kai Sun		Founding Shareholders
Mr. Yifan Li		Founding Shareholders
Mr. Shaoqing Xiang		Founding Shareholders
Mr. Minglie Hu		Shareholder
Mr. Min Ai		Shareholder
Shanghai Leyi Technology L.P.		An affiliate of the shareholder of the Group
Baidu USA LLC (Note)		An affiliate of the shareholder of the Group
Beijing Baidu Netcom Technology Co., Ltd.		An affiliate of the shareholder of the Group
Apollo Intelligent Transportation Technology (Guangzhou) Co., Ltd.		An affiliate of the shareholder of the Group
Baidu Smart Travel Information Technology (Chongqing) Co., Ltd.		An affiliate of the shareholder of the Group
Apollo Intelligent Transportation Technology (Hefei) Co., Ltd.		An affiliate of the shareholder of the Group
Luobo Yunli (Beijing) Technology Co., Ltd.		An affiliate of the shareholder of the Group
Apollo Intelligent Transportation Technology (Dalian) Co., Ltd.		An affiliate of the shareholder of the Group
Apollo Intelligent Technology (Beijing) Co., Ltd.		An affiliate of the shareholder of the Group
Apollo Intelligent Connection (Beijing) Co., Ltd.		An affiliate of the shareholder of the Group

Schedule of significant related party transactions


	For year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB
Net revenues
Affiliates of the shareholders of the Group	15,655	—	—
Total	15,655	—	—


	For year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB
Payment for equity acquisition consideration
Founding Shareholders and certain shareholders	—	—	17,506
Total	—	—	17,506


	For year ended December 31,
	2021	2022	2023
	RMB	RMB	RMB
Subscription consideration received from shareholders
Founding Shareholders and certain shareholders	—	—	17,506
Total	—	—	17,506

Schedule of outstanding balances with related parties


	As of December 31,
	2021	2022	2023
	RMB	RMB	RMB
Amounts due to related parties, net of allowance
Founding Shareholders and certain shareholders	307,498	334,283	326,028
An affiliate of the shareholder of the Group	—	—	14,023
Total	307,498	334,283	340,051

Combined and Consolidated Balance Sheets ¥ in Thousands, $ in Thousands	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)
Current Assets:
Cash and cash equivalents	¥ 1,554,583	$ 218,958	¥ 913,277
Restricted cash	3,541	499	0
Short-term investments	1,586,005	223,384	945,865
Accounts receivable, net (net of allowance of RMB6,249 and RMB49,132 as of December 31, 2022 and 2023, respectively)	524,818	73,919	485,044
Contract assets, net (net of allowance of RMB459 and RMB122 as of December 31, 2022 and 2023, respectively)	19,688	2,773	12,600
Amounts due from related parties	¥ 5,015	$ 706	¥ 5,021
Other Receivable, after Allowance for Credit Loss, Current, Related Party, Type [Extensible Enumeration]	Related Party [Member]	Related Party [Member]	Related Party [Member]
Inventories	¥ 495,877	$ 69,843	¥ 646,852
Prepayments and other current assets	208,082	29,308	126,452
Total current assets	4,397,609	619,390	3,135,111
Property and equipment, net	871,611	122,764	504,953
Intangible assets, net	78,730	11,089	20,600
Land-use rights, net	40,743	5,739	41,606
Goodwill	0	0	3,823
Long-term investments	31,811	4,480	31,856
Operating lease right-of-use assets	151,871	21,391	44,349
Other non-current assets	90,168	12,700	57,098
Total non-current assets	1,264,934	178,163	704,285
TOTAL ASSETS	5,662,543	797,553	3,839,396
Current Liabilities:
Short-term borrowings	111,682	15,730	0
Notes payable	7,255	1,022	0
Accounts payable	269,439	37,950	206,681
Contract liabilities	79,925	11,257	40,378
Amounts due to related parties	¥ 340,051	$ 47,895	¥ 334,283
Other Liability, Current, Related Party, Type [Extensible Enumeration]	Related Party [Member]	Related Party [Member]	Related Party [Member]
Accrued warranty liability	¥ 28,425	$ 4,004	¥ 17,694
Accrued expenses and other current liabilities	498,324	70,188	356,502
Total current liabilities	1,335,101	188,046	955,538
Deferred tax liabilities	0	0	439
Operating lease liabilities	119,413	16,819	10,139
Long-term borrowings	285,898	40,268	18,472
Other non-current liabilities	59,813	8,424	13,075
Total non-current liabilities	465,124	65,511	42,125
TOTAL LIABILITIES	1,800,225	253,557	997,663
Commitments and contingencies (Note 25)
Mezzanine Equity:
Redeemable shares (US$0.0001 par value, 54,551,513 and nil shares issued and outstanding as of December 31, 2022 and December 31, 2023, respectively)	0	0	5,986,910
Shareholders' (Deficit) Equity:
Additional paid-in capital	7,423,862	1,045,629	0
Subscription receivables	(292,721)	(41,229)	(310,227)
Accumulated other comprehensive (loss) income	38,440	5,414	(3,608)
Accumulated deficit	(3,307,349)	(465,830)	(2,831,381)
Total Shareholders' (deficit) equity	3,862,318	543,996	(3,145,177)
Total Liabilities, Mezzanine Equity and Shareholders' (Deficit) Equity	5,662,543	797,553	3,839,396
Class A
Shareholders' (Deficit) Equity:
Ordinary shares	19	3	19
Class B
Shareholders' (Deficit) Equity:
Ordinary shares	¥ 67	$ 9	¥ 20

Commitments and Contingencies - Royalty commitments (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)
Other Commitments [Line Items]
Base payment for royalty		$ 3,000
Royalty expense \| ¥	¥ 35,288		¥ 18,044		¥ 18,542
2030
Other Commitments [Line Items]
Payment for royalty expense				$ 3,000		$ 3,000
Base payment for royalty		$ 300
Net revenues of rotational scanning product from US$0 to US$425,000
Other Commitments [Line Items]
Percentage of royalty on net revenue	4.00%	4.00%
Net revenues of rotational scanning product from US$0 to US$425,000 \| Minimum
Other Commitments [Line Items]
Net revenues of rotational scanning product		$ 0
Net revenues of rotational scanning product from US$0 to US$425,000 \| Maximum
Other Commitments [Line Items]
Net revenues of rotational scanning product		$ 425,000
Net revenues of rotational scanning product from US$425,000 to US$2,925,000
Other Commitments [Line Items]
Percentage of royalty on net revenue	3.00%	3.00%
Net revenues of rotational scanning product from US$425,000 to US$2,925,000 \| Minimum
Other Commitments [Line Items]
Net revenues of rotational scanning product		$ 425,000
Net revenues of rotational scanning product from US$425,000 to US$2,925,000 \| Maximum
Other Commitments [Line Items]
Net revenues of rotational scanning product		$ 2,925,000
Net revenues of rotational scanning product from US$2,925,000 to above
Other Commitments [Line Items]
Percentage of royalty on net revenue	2.00%	2.00%
Net revenues of rotational scanning product		$ 2,925,000