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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