The company sources components for its LiDAR products from third-party suppliers, with the top five suppliers accounting for 26.6%, 27.4%, and 20.5% of total purchases in 2023, 2024, and 2025, respectively. It relies on major suppliers for raw materials and key components, including lasers, which represent a significant portion of the market supply. Purchases from suppliers outside of China constitute 17.6%, 17.5%, and 22.8% of total procurement in 2023, 2024, and 2025, respectively. The supply chain faces risks such as shortages, long lead times, increased costs, and disruptions, particularly due to geopolitical and trade tensions between China and the United States. Shortages or delays in semiconductor chips, a key component, could increase costs or delay production. The company is working to increase the use of in-house ASICs but continues to depend on third-party chips. Supply shortages or price fluctuations could materially impact production and sales, and developing alternative sources may be difficult, especially for sole or limited-source components.
Hesai Group's Comment on Supply Chain
The company sources components for its LiDAR products from third-party suppliers, with the top five suppliers accounting for 26.6%, 27.4%, and 20.5% of total purchases in 2023, 2024, and 2025, respectively. It relies on major suppliers for raw materials and key components, including lasers, which represent a significant portion of the market supply. Purchases from suppliers outside of China constitute 17.6%, 17.5%, and 22.8% of total procurement in 2023, 2024, and 2025, respectively. The supply chain faces risks such as shortages, long lead times, increased costs, and disruptions, particularly due to geopolitical and trade tensions between China and the United States. Shortages or delays in semiconductor chips, a key component, could increase costs or delay production. The company is working to increase the use of in-house ASICs but continues to depend on third-party chips. Supply shortages or price fluctuations could materially impact production and sales, and developing alternative sources may be difficult, especially for sole or limited-source components.
Sources:
Hesai Group's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
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