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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.