Jeff Chung's questions to Hesai Group (HSAI) leadership • Q3 2024
Question
Jeff Chung from Citigroup asked for the normalized operating expense run-rate for 2025 and inquired about the potential impact of seasonality on margins and demand in Q1 2025 following a strong Q4.
Answer
CFO Andrew Fan projected that full-year 2024 non-GAAP OpEx would grow 10-15% over 2023's RMB 1 billion base and committed to active expense management in 2025. For Q1 2025, Fan acknowledged that it is typically a seasonally weaker quarter compared to Q4 but deferred providing specific guidance until the next earnings call.