Bing Rui Kui's questions to Hesai Group (HSAI) leadership • Q1 2025
Question
Bing Rui Kui from Goethe Haiyong Securities asked for details on the impact of U.S. tariffs on Hesai's pricing and supply chain, and inquired about the company's strategies to mitigate these challenges.
Answer
CFO Andrew Fan explained the impact is limited, as the U.S. market is projected to be only 10% of 2025 revenue, with only half of that subject to tariffs under DDP terms. He noted that a 45% tariff was already factored into their profitability outlook. CEO Yifan Li added that customer reactions varied, with some pausing orders while others front-loaded purchases to secure supply, resulting in some potential revenue shifts from Q2 to Q3.