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COMBINED AND CONSOLIDATED STATEMENTS OF CASH FLOWS
¥ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
CNY (¥)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
CNY (¥)
Dec. 31, 2020
CNY (¥)
Cash flows from operating activities:        
Net loss ¥ (300,765) $ (43,606) ¥ (244,827) ¥ (107,216)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization 53,634 7,776 28,231 19,215
Share-based compensation 105,219 15,255 54,283  
Provision for (reversal of) allowance for credit loss (1,810) (262) 2,561 4,174
Loss from disposal of property and equipment 369 53 169 28
Fair value change of short-term investments 4,878 707 (7,717)  
Loss from equity in earnings of subsidiaries 45 7 84 4
Foreign exchange loss (gain), net (5,868) (851) 10,945 21,503
non-cash lease expenses 30,260 4,387    
Inventory write-down 39,431 5,717 16,600 7,060
Changes in operating assets and liabilities:        
Accounts receivable (390,859) (56,670) (31,696) (22,578)
Contract assets 134,244 19,464 (108,737) (39,024)
Inventories (305,553) (44,301) (237,755) (83,607)
Prepayments and other current assets (33,556) (4,865) (48,618) (8,790)
Amounts due from related parties     24,788 (20,842)
Non-current assets 2,883 418 (5,573) (4,100)
Amounts due to related parties       (2,906)
Contract liabilities (91,737) (13,301) 113,265 (2,569)
Deferred tax liabilities (27) (4) (113) (156)
Accounts payable 128,863 18,683 21,834 36,258
Income tax payable     (9) (1,268)
Accrued expenses and other current liabilities (41,074) (5,955) 170,125 (143,526)
Operating leases liabilities (30,103) (4,365)    
Other non-current liabilities 5,511 799 13,774 (3,675)
Net cash used in operating activities (696,015) (100,914) (228,386) (352,015)
Cash flows from investing activities:        
Purchases of short-term investments (5,586,764) (810,005) (4,812,942) (2,001,137)
Maturity of short-term investments 6,978,764 1,011,826 3,114,287 2,256,724
Proceeds from disposals of property and equipment     22 19
Purchases of property and equipment (231,210) (33,523) (220,096) (66,000)
Purchases of land-use right     (43,188)  
Purchases of intangible assets (9,180) (1,331) (18,320) (10,579)
Purchases of equity securities (30,000) (4,350)    
Advances to a related party (1,964) (285)    
Net cash provided (used in) by investing activities 1,119,646 162,332 (1,980,237) 179,027
Cash flows from financing activities:        
Cash distribution to shareholders of Shanghai Hesai in connection with the 2021 Reorganization     (507,620)  
Cash contribution from shareholders in connection with the 2021 Reorganization     507,620  
Proceeds from issuance of equity shares of Shanghai Hesai       317,147
Proceeds from issuance of convertible loans     1,950,338  
Proceeds from issuance of ordinary shares of Hesai Group     453,978  
Return of advances to employees in connection with share option grants     (590) 6,290
Proceeds from long-term borrowings 18,472 2,678    
Payment of offering cost (3,296) (478)    
Net cash provided by financing activities 15,176 2,200 2,403,726 323,437
Net increase in cash and cash equivalents 438,807 63,618 195,103 150,449
Cash and cash equivalents, beginning of the year 449,352 65,150 256,688 112,737
Effect of foreign exchange rate changes on cash and cash equivalents 25,118 3,645 (2,439) (6,498)
Cash and cash equivalents, end of the year 913,277 132,413 449,352 256,688
Supplemental disclosure of cash flow information:        
Income taxes (return) paid (1,230) (178) 213 (8,662)
Capitalized interest paid 11 2    
Supplemental disclosure of non-cash investing and financing activities:        
Conversion of convertible loans to redeemable shares     1,950,338  
Accrued purchases of property and equipment 102,181 14,815 114,446 3,823
Accrued offering cost 480 70    
Deferred government subsidy applied to purchases of property and equipment     3,850 ¥ 30,000
Deemed dividend ¥ 446,419 $ 64,725 ¥ 2,211,330