Hesai Group

Hello, ladies and gentlemen. Thank you for standing by for the fourth quarter and full year 2022 earnings conference call for Herstie Group. At this time, all participants are in listen-only mode. Please note that today's conference call is being recorded. I will now turn the call over to the first speaker today, Rachel Yang, Vice President of Operations for the company. Please go ahead.

Thank you, operator. Hello, everyone, and thank you for joining Corsair Group's first quarter and four-year 2022 earnings conference call. Our earnings press release was distributed earlier today via Newswire Services, and it's posted in the investor relations section of our website at investors.corsairtech.com, along with the webcast access to today's call. On today's call, we have our CEO, Debbie Lee, and our global CFO, Louis Hsieh. Debbie and Louis will each provide prepared remarks and will conclude the call with a Q&A section. I'd like to remind everyone that our earnings calls and investor materials contain forward-looking statements which are subject to future events and uncertainties. Our actual results may differ materially from those forward-looking statements. All forward-looking statements should be considered in conjunction with a cautionary statement in our earnings release and the risk factors included in our filings with SEC. Finally, this call also includes certain non-GAAP financial measures. You should carefully consider the comparable GAAP measures. Reconciliation of non-GAAP and GAAP measures is included in your earnings release. I would now like to turn the call over to our CEO, David Li. Please go ahead.

Thank you, Rachel, and welcome, everyone, to Hafez's first earnings conference call as a public company. I'd like to first express my gratitude to our investors, partners, dedicated employees, and everyone who contributed to our successful IPO on February 9th. During our IPO, Hussite sold 10 million ADRs at 19 US dollars per share, and the honor writers partially exercised their over-element option, raising approximately $192.4 million. Lifting on an asset marks a milestone in Hussite's growth. We're excited to begin life as a public company and to deliver long-term value to shareholders, employees, and other stakeholders. Now, moving on to our operating results for the fourth quarter and 2022. We continued our strong growth momentum in fourth quarter. In September, the first company in the world to deliver more than 10,000 LiDAR units in a month. Total shipments Total shipments during the fourth quarter reached 47,515 units, among which ADAS LiDAR shipments accounted for 91%. Note that in December, we shipped more than 20,000 LiDAR units. These achievements are groundbreaking in the industry. In the fourth quarter, our new ADAS LiDAR products continue to win new customers, including firstly, the largest EV maker in China, and secondly, the largest OEM. And thirdly, an electric technology company, ROX, followed in January by Sirius, a leading China-based EV OEM. These were followed by a design win with DD's autonomous driving business. Additionally, in February 2023, the company secured a LiDAR design win for AT128 with LiAuto on its new battery electric vehicle platform. Our successful Q4 capped a successful 2022. During the year, we proved that our mass production capabilities empower us to capitalize the wealth of ADAS and autonomous ability. Our total shipment in 2022 reached more than 80,000 LiDAR units and accumulated a surpassed 100,000 shipped units. That represents an explosive 337% CAGR since 2020, significantly outpacing the global LiDAR market. In fact, Our LiDAR deliveries and data revenues for 2022 were higher than the cumulative LiDAR unit deliveries and revenues of all eight of our U.S. public listed peers combined in 2022. Notably, we shipped more than two times the number of automotive LiDAR units than our eight U.S. listed peers combined. The back rock of our success is our people. In 2022, we grew our talent force to more than 1,000. most of whom are on the R&D engineering team, a scale significantly higher than our peers. Our success is further defined by our innovative customers and partners' in-house manufacturing capabilities and breakthrough LiDAR technologies. In Ada's market, we're working with many market-leading OEM partners, including LiAuto, Challen Automobile, Lotus, Jidoo, HiFi, Rox, and in autonomous mobility market, where we are dominant. Our customer base includes some of the most prominent global players, including the world's leading robot technology company in the US. Our customers also include Aurora, Pony AI, WeRed, and Amdalux. In the robotics market, we provide products to the largest player in China, Meituan, and off-site global players, such as Neural and others. Our commitment to building superior products, which also optimize performance quality and cost is key to our wings in both the ADAS and autonomous mobility markets. We believe advanced in-house manufacturing capabilities are critical for developing lighter products like ours that utilize fast-advancing technologies. We combine R&D advances in application-specific integrated circuits, also known as ASICs, to drive semiconductor performance with in-house manufacturing capabilities to design, iterate, and bring the best in-class product to our customers. Our integrated in-house model enables fast development and proprietary know-how to reinforce each other, establishing a virtuous cycle and a formidable competitive advantage. The model also helps us to optimize cost, deliver higher performance solutions, and make our supply chain safer. Through this model, and our talented R&D and manufacturing engineering teams copied approximately 700 stacks. We developed our FT-120, a state-of-the-art blind spot LiDAR sensor with no moving parts inside, designed for ADAS series production vehicles. We plan to launch the FT-120 later this year. In addition to FT-120, during the course of the year, we expect to announce several really exciting industry-leading LiDAR products, but you have to stay tuned for those future release announcements. We're proud that Hasai has become the most commercially successful LiDAR company in the world. To date, we've signed 11 OEMs, six of which will be in mass production, all 11 by 2024. We're presently in discussion with several other leading Chinese and global OEMs, which we expect to add in 2023, and look forward to sharing more information with you in due course. Moving forward. we'll continue to build partners and relationships with OEM and autonomous technology companies, perfect core technologies, and manufacturing capabilities. Our growth has just begun, and our path is clear. We're optimistic about the future trajectory. With that, I'd now like to turn the call over to Dr. Lewis, who will share about our financial performance for Q4 2022 and our outlook for the rest of the 2023. Lewis, please go ahead.