Market Newsdesk

Quarterly net revenues were RMB680.6
million (US$98.7 million)

¹

Quarterly
lidar
shipments were
471,723 units

Quarterly net income was RMB18.3 million (US$2.7 million)

SHANGHAI, China, May 19, 2026 (GLOBE NEWSWIRE) — Hesai Group (“Hesai” or the “Company”) (NASDAQ: HSAI; HKEX: 2525), a global tech company and a leader in 3D perception, today announced its unaudited financial results for the three months ended March 31, 2026.

Management Remarks

“We are incredibly honored and excited to announce that Hesai serves as strategic lidar partner and confirmed supplier for Mercedes-Benz models enabling L3 autonomy. Meanwhile, the first quarter of 2026 marked a transformative chapter for Hesai as we began our strategic evolution from ‘Spatial Perception’ to ‘Spatial Intelligence.’ We are no longer just a global leader in lidar; we are building the foundational infrastructure for the Physical AI frontier,” said Dr. Yifan “David” Li, Hesai’s Co-Founder and CEO. “We continue to solidify the leadership in our core lidar business during the quarter. According to Gasgoo, we have maintained the No.1 position in China’s long-range automotive lidar market for 14 consecutive months, reaching 55% share in March 2026. Furthermore, our latest ASIC breakthrough, Picasso, represents a step-change for the industry. As the world’s first 6D full-color ultra-sensitive lidar SPAD-SoC, it integrates RGB color information with precise XYZ spatial data at the chip level, fundamentally bridging the gap between lidars and cameras. This next-generation technology will debut in our high-end ETX lidar model, offering configurations of up to 4,320 channels, with SOP expected in the second half of 2026. We believe our in-house developed full-color 6D SPAD-SoC has the potential to enable a unified perception paradigm not only for vehicles, but for any application where cameras are used today.”

Dr. Li continued, “Hesai is a deep-tech company committed to pushing the boundaries of what is possible. Built on our core sensing and systems expertise, we are scaling from ‘1 to 10.’ Beyond our lidar business, we are driving our next decade of growth through Strategic Growth Initiatives (SGI), spanning the ‘eyes’ and ‘muscles’ of Physical AI. Our ambition is to digitize the real world and redefine how humans and robots perceive and act. At our Tech Day in April 2026, we showcased our first product under SGI, Kosmo, an AI algorithm-integrated spatial intelligence device designed to build real-world 3D data infrastructure for the Physical AI era. More importantly, Kosmo represents the entry point to a scalable new business model, expected to unlock recurring revenue streams and trillion-RMB downstream opportunities across robotics simulation and training, immersive media, 4D entertainment, and beyond. We are extremely excited about the next chapter of Hesai as we build transformative businesses to empower the Physical AI revolution.”

“We kicked off 2026 with strong momentum, delivering another quarter of robust growth with year-over-year gains in scale and profitability,” said Mr. Andrew Fan, Hesai’s CFO. “Net revenues reached RMB681 million, up 30% year-over-year. This was driven by total shipments of 471,723 lidar units for the first quarter, reflecting strong, broad-based demand across both ADAS and Robotics. Our lidar business generated a solid operating profit of approximately RMB42 million, contributing to overall GAAP net income of RMB18 million for the quarter. This marks our fourth consecutive quarter of GAAP profitability and sixth consecutive quarter of non-GAAP profitability.”

Mr. Fan added, “To enhance transparency and better reflect our strategic evolution, we have refined our reporting structure into two segments: ‘Lidar Business’ and ‘Strategic Growth Initiatives.’ This framework highlights the self-sustained profitability of our lidar business alongside the long-term upside of our new initiatives. Supported by early traction, we expect SGI to contribute approximately RMB100 million in net revenues this year, with contributions expected to start in the second quarter of 2026. Looking ahead, we expect our financial performance to strengthen progressively through 2026, driven by the continued expansion of our lidar business and the ramp-up of SGI.”
_____________________________
1 All translations from RMB to USD for the first quarter of 2026 were made at the exchange rate of RMB6.8980 to US$1.00, the exchange rate on March 31, 2026, set forth in the H.10 statistical release of the Federal Reserve Board. 

• 
  Lidar Business Updates
  
  :
  • Announced as strategic lidar partner and confirmed supplier for Mercedes-Benz models enabling L3 autonomy. The new supply agreement supports Mercedes-Benz programs in Europe and China, with lidar production supported by Hesai’s new Galileo manufacturing center in Thailand.
  • Ranked No.1 globally in long-range ADAS lidar with a 43% market share in 2025 (Yole Group), and achieved a 55% market share in China in March 2026—roughly triple that of the second-ranked player (Gasgoo).
  • Hesai ATX lidar was selected for GAC Toyota’s 2026 bZ3X model, marking Hesai’s first entry into the Japanese automotive ecosystem.
  • At the recent Beijing Auto Show, Hesai’s lidar solutions were featured across 56 vehicle models from 24 leading automotive brands, ranking No.1 in lidar presence across exhibited models, further reinforcing our deep integration within China’s core automotive ecosystem. Key highlights include:
    • Li Auto Livis: Supported multi-lidar configurations of up to 4 Hesai lidars, marking the first mass production deployment of our FTX blind-spot lidar and enabling true 360° perception with high safety redundancy for intelligent driving systems.
    • Xiaomi: Secured new design wins for overseas models, further expanding our international footprint, with SOP expected from 2027 onward.
    • Geely: Deployed across multiple models from flagship brands including Geely Galaxy, Zeekr, and Smart, with additional models from other brands scheduled for SOP in the second half of 2026, strengthening our penetration across premium and mass-market EV segments.
    • Cadillac VISTIQ: Enabled the industry’s first mass-produced in-cabin lidar, co-developed to deliver seamless design and robust perception performance across all driving conditions.
    • Other customers: Deployed across leading automotive brands and autonomous driving players at the auto show, including Audi, Lotus, BYD, Leapmotor, Great Wall Motor, Changan, Chery, Pony.ai, and WeRide, among many others.
  • Hesai lidar is powering new robotics applications across diversified emerging use cases:
    • Powered Honor’s humanoid robot “Lightning” with our JT128 lidar, to deliver a championship-winning performance that broke the human world record at the world’s first humanoid robot half marathon.
    • Secured an exclusive design win with Zelos to supply 200,000 lidar units and strengthened partnership with Neolix as its largest lidar supplier.
    • Entered the electric two-wheeler segment with NIU Technologies, where our FTX lidar powers its next-generation smart mobility platforms.
  • Hesai pioneers the “6D full-color lidar” era:
    • Introduced Picasso, our in-house developed, world-first 6D full-color ultra-sensitive SPAD-SoC. It achieves native chip-level fusion of color (RGB) and depth (XYZ) information, enabling direct generation of colorized point clouds to significantly enhance the spatial intelligence of ADAS and Robotics smart systems. With industry-leading performance, it delivers over 40% photon detection efficiency (PDE).
    • Powered by Picasso SPAD-SoC, the next-generation ETX series lidar delivers a maximum 600-meter range with up to 4,320 channels, making it the world’s first 6D full-color ultra-high-channel-count lidar. ETX is targeted for SOP in the second half of 2026, with broad global adoption expected in 2027–2028, delivering the industry’s first real-time chip-level fusion of color and 3D distance sensing.
    • Secured an exclusive design win with KargoBot for its Space 2.0 transport robots, marking the first mass-production deployment of our 6D full-color, 4,320-channel ETX as the primary lidar, alongside FTX blind-spot lidar on commercial vehicles. Additional customer engagements are currently underway.

• 
  Strategic Growth Initiatives (SGI) Updates
  
  :
  • Unveiled Kosmo, the first product under SGI, a revolutionary and industry-first spatial intelligence device integrating Hesai’s custom lidar, multi-sensor inputs, and proprietary 3DGS and AIGC algorithms to seamlessly capture and reconstruct high-fidelity 3D environments. It transforms spatial data capture from a complex, high-cost process into a standardized, scalable infrastructure layer.
  • Received early orders for Kosmo. As the entry point to a scalable new business model built around hardware, AI software, spatial data, and future platform services, Kosmo is expected to create recurring revenue streams and unlock a huge addressable market across robotics simulation and training, immersive media, 4D entertainment, and beyond.

Operational Highlights

• Q1 2026 ADAS lidar shipments were 353,441 units, representing an increase of 141.9% from 146,087 units in the corresponding period of 2025.
• Q1 2026 Robotics lidar shipments were 118,282 units, representing an increase of 137.8% from 49,731 units in the corresponding period of 2025.
• Q1 2026 Total lidar shipments were 471,723 units, representing an increase of 140.9% from 195,818 units in the corresponding period of 2025.

Financial
Highlights
for
the First Quarter of
2026

(in RMB millions, except for per ordinary share data and percentage)

• Net revenues were RMB680.6 million (US$98.7 million) for the first quarter of 2026, representing an increase of 29.6% from RMB525.3 million for the same period of 2025. Product revenues were RMB679.7 million (US$98.6 million) for the first quarter of 2026, representing an increase of 33.1% from RMB510.7 million for the same period of 2025. The year-over-year increase was mainly attributable to increased deliveries of both ADAS and Robotics lidar products due to robust demand, both in China and globally, partially offset by a decrease in average selling prices. Service revenues were RMB0.9 million (US$0.1 million) for the first quarter of 2026, representing a decrease of 93.9% from RMB14.6 million for the same period of 2025. The year-over-year decrease was mainly driven by lower revenues from non-recurring engineering services.
• Cost of revenues was RMB414.5 million (US$60.1 million) for the first quarter of 2026, representing an increase of 35.4% from RMB306.1 million for the same period of 2025.
• Gross margin was 39.1% for the first quarter of 2026, compared with 41.7% for the same period of 2025. The year-over-year decrease in gross margin was mainly attributable to a higher revenue contribution from products with relatively lower margins.
• Sales and marketing expenses were RMB41.5 million (US$6.0 million) for the first quarter of 2026, representing a decrease of 17.9% from RMB50.5 million for the same period of 2025. The decrease was mainly driven by a decrease in payroll expenses of RMB9.2 million (US$1.3 million).
• General and administrative expenses were RMB52.8 million (US$7.7 million) for the first quarter of 2026, representing a decrease of 2.4% from RMB54.1 million for the same period of 2025. The decrease was mainly driven by a decrease in professional service fees of RMB5.4 million (US$0.8 million), partially offset by an increase in expected credit losses of RMB2.0 million (US$0.3 million).
• Research and development expenses were RMB204.7 million (US$29.7 million) for the first quarter of 2026, representing an increase of 11.7% from RMB183.3 million for the same period of 2025. The year-over-year increase was mainly due to an increase in payroll expenses of RMB13.6 million (US$2.0 million) and an increase in cost of materials of RMB2.8 million (US$0.4 million), reflecting our incremental investment in strategic growth initiatives.
• Loss from operations was RMB8.6 million (US$1.2 million) for the first quarter of 2026, compared with loss from operations of RMB33.4 million for the same period of 2025. Excluding share-based compensation expenses, non-GAAP income from operations was RMB20.9 million (US$3.0 million) for the first quarter of 2026, compared with non-GAAP loss from operations of RMB7.3 million for the first quarter of 2025.
• Net income was RMB18.3 million (US$2.7 million) for the first quarter of 2026, compared with net loss of RMB17.5 million for the same period of 2025. Excluding share-based compensation expenses, non-GAAP net income was RMB47.7 million (US$6.9 million) for the first quarter of 2026, representing an increase of 452.9% from RMB8.6 million for the same period of 2025.
• Net income attributable to ordinary shareholders of the Company was RMB18.3 million (US$2.7 million) for the first quarter of 2026, compared with net loss attributable to ordinary shareholders of the Company of RMB17.5 million for the same period of 2025. Excluding share-based compensation expenses, non-GAAP net income attributable to ordinary shareholders of the Company was RMB47.7 million (US$6.9 million) for the first quarter of 2026, representing an increase of 452.9% from RMB8.6 million for the same period of 2025.
• Basic and diluted net income per ordinary share were RMB0.12 (US$0.02) and RMB0.11 (US$0.02), respectively, for the first quarter of 2026. Excluding share-based compensation expenses, non-GAAP basic and diluted net income per ordinary share were RMB0.31 (US$0.04) and RMB0.29 (US$0.04), respectively, for the first quarter of 2026.
• Cash reserve
  
  ²
  was RMB7,231.7 million (US$1,048.4 million) as of March 31, 2026, compared with RMB7,511.0 million as of December 31, 2025.

_____________________________
2 Cash reserve represents cash and cash equivalents, restricted cash, short-term investments and long-term time bank deposits.

Business
Outlook

For the second quarter of 2026, the Company expects net revenues to be between RMB850 million (US$123 million) and RMB900 million (US$130 million), representing a year-over-year increase of approximately 20% to 27%.

The above outlook is based on current market conditions and reflects the Company’s preliminary estimates of market and operating conditions and customer demand, which are all subject to change.

Conference
Call

The Company’s management will host an earnings conference call at 8:00 AM U.S. Eastern Time on May 19, 2026 (8:00 PM Beijing/Hong Kong Time on May 19, 2026).

For participants who wish to join the call by phone, please access the link provided below to complete the pre-registration process and dial in 5 minutes prior to the scheduled call start time. Upon registration, each participant will receive dial-in details to join the conference call.

Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at https://investor.hesaitech.com.

A replay of the conference call will be accessible approximately an hour after the conclusion of the call until May 26, 2026, by dialing the following telephone numbers:

About
Hesai

Hesai Technology (Nasdaq: HSAI; HKEX: 2525) is a global tech company and a leader in 3D perception. Leveraging full-stack proprietary ASIC capabilities and an integrated R&D-testing-manufacturing approach, Hesai has established industry-leading positions across core physical AI domains, including ADAS-equipped passenger vehicles, autonomous mobility, spatial intelligence, embodied AI, as well as industrial, agricultural, and service robots. Hesai has established offices in Shanghai, Palo Alto, and Stuttgart, and operates in-house factories in China and Thailand, with customers spanning more than 40 countries. As the AI-driven Fourth Industrial Revolution accelerates, Hesai is committed to becoming a key enabler of physical AI — digitizing the real world and redefining how humans and robots perceive and act.

Use
of
Non-GAAP
Financial
Measures

To supplement Hesai’s consolidated financial results presented in accordance with GAAP, Hesai uses the following measures defined as non-GAAP financial measures by the SEC: income/loss from operation excluding share-based compensation expenses, net profit/loss excluding share-based compensation expenses, net profit/loss attributable to ordinary shareholders excluding share-based compensation, and per ordinary share net income/loss attributable to ordinary shareholders excluding share-based compensation. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the tables captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this release.

Hesai believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding share-based compensation expenses that may not be indicative of its operating performance from a cash perspective. Hesai believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management’s internal comparisons to Hesai’s historical performance and liquidity. Hesai believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using these non-GAAP financial measures is that they exclude share-based compensation expenses that have been and will continue to be for the foreseeable future a significant recurring expense in our business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP financial measure. The accompanying tables have more details on the reconciliations between GAAP financial measures that are most directly comparable to non-GAAP financial measures.

Exchange
Rate
Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB are made at a rate of RMB6.8980 to US$1.00, the exchange rate on March 31, 2026, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or U.S. dollars amounts referred to could be converted into U.S. dollars or RMB, as the case may be, at any particular rate or at all.

Safe
Harbor
Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue” or other similar expressions. Among other things, the business outlook and quotations from management in this announcement, as well as the Company’s strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition and results of operations; expected changes in the Company’s revenues, costs or expenditures; the trends in, expected growth and the market size of the ADAS and Robotics industries; the market for and adoption of lidar and related technology; the Company’s ability to produce high-quality products with wide market acceptance; the success of the Company’s customers in developing and commercializing products using its solutions, and the market acceptance of those products; the Company’s ability to introduce new products that meet its customers’ requirements; the Company’s expectations regarding the effectiveness of its marketing initiatives and the relationship with its third-party partners; competition in the Company’s industry; the Company’s ability to recruit and retain qualified personnel; relevant government policies and regulations relating to the Company’s industry; the Company’s ability to protect its systems and infrastructures from cyber-attacks; general economic and business conditions globally and in China; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this announcement and in the attachments is as of the date of this announcement, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. In the event of any inconsistency between the English version of this earnings release and its Chinese translation, the English version of this document shall prevail unless otherwise stated.

For investor and media inquiries, please contact:

Hesai Group
Capital Markets Department
Email: [email protected]

Christensen Advisory
Tel: +86-10-5900-1548
Email: [email protected]

Source: Hesai Group

BEIJING, May 19, 2026 (GLOBE NEWSWIRE) — Yimutian Inc. (Nasdaq: YMT) (“Yimutian” or the “Company”), a leading agricultural digital service company in China, today announced that it received two written notifications from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) on May 13, 2026, the details of which are described below.

On May 13, 2026, the Company received a written notification (the “MVLS Deficiency Notice”) from Nasdaq, notifying the Company that it is currently not in compliance with Nasdaq Listing Rule 5450(b)(2)(A), which requires the Company to maintain a minimum market value of listed securities (“MVLS”) of US$50,000,000 for continued listing on the Nasdaq Global Market (the “MVLS Requirement”). Based on the Company’s MVLS for the 30 consecutive business days from March 25, 2026 to May 6, 2026, the Company no longer meets this requirement. The MVLS Deficiency Notice is only a notification of deficiency and has no immediate effect on the listing of the Company’s American Depositary Shares (“ADS”). The Company’s ADSs will continue to trade on The Nasdaq Global Market at this time. The Company’s receipt of the MVLS Deficiency Notice does not impact the Company’s business, operations or reporting requirements with the U.S. Securities and Exchange Commission (the “SEC”).

Pursuant to Nasdaq Listing Rule 5810(c)(3)(C), the Company has a compliance period of 180 calendar days, or until November 9, 2026 (the “Compliance Period”), to regain compliance with Nasdaq’s MVLS Requirement. If at any time during the Compliance Period, the Company’s MVLS closes at US$50,000,000 or more for a minimum of 10 consecutive business days, Nasdaq will provide the Company a written confirmation of compliance and the matter will be closed.

Additionally, on May 13, 2026, the Company also received a determination letter (the “Determination Letter”) from Nasdaq, notifying the Company that, due to the its failure to regain compliance with the minimum market value of publicly held shares (“MVPHS”) requirement under Nasdaq Listing Rule 5450(b)(2)(C) by May 6, 2026, the Company is subject to delisting. The Company will be filing an appeal, which will stay any further delisting proceedings though the hearing or any extension the Hearings panel may grant and the securities will continue to be listed on The Nasdaq Global Market.

As previously disclosed, on November 6, 2025, the Company was notified by Nasdaq that for the previous 30 consecutive trading days the Company’s MVPHS had been below the minimum US$15,000,000 required for continued listing as set forth in Nasdaq Listing Rule 5450(b)(2)(C) (the “MVPHS Requirement”), and the Company was provided with 180 calendar days, or until May 6, 2026, to regain compliance with this rule. The Company did not regain compliance with the MVPHS Requirement by May 6, 2026.

The Company intends to take all reasonable measures available to regain compliance with the MVLS Requirement, the MVPHS Requirement and other relevant continued listing requirements under the Nasdaq Listing Rules and to remain listed on Nasdaq. However, there can be no assurances that the Company would ultimately be able to regain compliance with all applicable requirements for continued listing on Nasdaq.

About Yimutian Inc.

Yimutian Inc, is a leading agricultural B2B platform in mainland China. Over a decade, the company has been dedicated to digitalizing China’s agricultural product supply chain infrastructure to streamline the agricultural product transaction process, and making it efficient, transparent, secure, and convenient.

For more information, please visit https://ir.ymt.com/.

Forward-Looking Statements

This press release contains forward-looking statements. These statements are made pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, these forward-looking statements can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to,” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

For investor inquiries, please contact:

Email: [email protected]
Phone: +86 1057086561

For media inquiries, please contact:

Email: [email protected]

SHENZHEN, China, May 19, 2026 (GLOBE NEWSWIRE) — LexinFintech Holdings Ltd. (“Lexin” or the “Company”) (NASDAQ: LX), a leading technology-empowered personal financial service enabler in China, today announced that it will report its unaudited financial results for the first quarter ended March 31, 2026, before the U.S. market opens on May 25, 2026.

The Company’s management will host an earnings conference call at 7:00 AM U.S. Eastern time on March 25, 2026 (7:00 PM Beijing/Hong Kong time on March 25, 2026).

Participants who wish to join the conference call should register online at:
https://register-conf.media-server.com/register/BIdbf6538c90c542929a234504dca02fbc

Once registration is completed, each participant will receive the dial-in number and a unique access PIN for the conference call.

Participants joining the conference call should dial in at least 10 minutes before the scheduled start time.

A live and archived webcast of the conference call will also be available at the Company’s investor relations website at http://ir.lexin.com.

About LexinFintech Holdings Ltd.

We are a leading credit technology-empowered personal financial service enabler. Our mission is to use technology and risk management expertise to make financing more accessible for young generation consumers. We strive to achieve this mission by connecting consumers with financial institutions, where we facilitate through a unique model that includes online and offline channels, installment consumption platform, big data and AI driven credit risk management capabilities, as well as smart user and loan management systems. We also empower financial institutions by providing cutting-edge proprietary technology solutions to meet their needs of financial digital transformation.

For more information, please visit http://ir.lexin.com.

For investor and media inquiries, please contact: 

LexinFintech Holdings Ltd.
IR inquiries:
Will Tan
Tel: +86 (755) 3637-8888 ext. 6258
E-mail: [email protected]

Media inquiries:
Ruifeng Xu
Tel: +86 (755) 3637-8888 ext. 6993
E-mail: [email protected]

SOURCE LexinFintech Holdings Ltd.

BICESTER, United Kingdom, May 19, 2026 (GLOBE NEWSWIRE) — Broad Arrow Auctions, driven by Hagerty (NYSE: HGTY), is celebrating the success of its second annual Concorso d’Eleganza Villa d’Este Auction. As the official auction partner of BMW AG for this prestigious concours event, the sale took place at the stunning and historic Villa Erba from 16-17 May 2026.

The famous rotunda at Villa Erba was full to capacity for this jewel of the international collector car auction calendar, which is as much an elegant social occasion as an opportunity for buyers to indulge their passion for significant classic and modern collector cars. Intense bidding in the room, online and on the telephones created a truly exciting atmosphere, while over 12,000 watched the auctioning of 75 of the world’s most desirable collector cars live on the Broad Arrow YouTube channel. When renowned British auctioneer, Thomas Forrester, dropped the gavel on the final lot, the sales total had reached a fantastic €40.8 million with a sell-through rate of 87 percent.

“We returned for our second year as the official auction partner of the Concorso d’Eleganza Villa d’Este with a spectacularly varied catalogue of 75 collector cars curated to attract the interest of global collectors,” says Joe Twyman, VP of Sales EMEA Region for Broad Arrow Auctions. “And attract them we did, with registered bidders from an impressive 31 different countries and more than 70 percent growth in bidder registration over the 2025 sale. The incredible atmosphere in the auction room also reflected the buoyancy of the market right now and underlined the status of what is undoubtedly one of the greatest concours events in the world, a place where established and new collectors amass to admire and acquire spectacular enthusiast cars of all ages. We look forward to returning to Villa Erba again in 2027 to inspire the collector market even further”.

Italian marques were firm favourites, including Ferrari and Lamborghini, led by a stunning 2023 Ferrari Daytona SP3. A single-owner example displaying only 743 kilometres and finished in Rosso Magma Tri-Coat over a Blu Elettrico Alcantara interior, it sold for €6.250.000. A rare ‘non-cat, non-adjust’ 1990 Ferrari F40 achieved a price of €2.931.250, while one of the most exciting and intense bidding battles of the auction saw a beautiful 1968 Ferrari 330 GTS find a new home after selling for €1.918.750.

Lamborghini models that sparked a great deal of interest among collectors and enthusiasts included a 2022 Countach LPI 800-4 that sold for €1.581.250, a six-speed manual 2009 Murcielago LP640-4 Coupé which achieved €805.000 and a true icon of supercar history, a 1990 Countach 25^th Anniversario that sold for €523.750.

An impressive selection of Japanese collector cars included the Ultimate R34 Skyline GT-R Collection, consisting of five remarkable examples of the fast and furious icon, which together reached a price of €1.517.000. These iconic machines shared the spotlight with a seldom-seen NSX Type S that achieved €207.000.

Other highlights included a 2015 Porsche 918 Spyder Weissach Package that sold for €2.256.250, a stalwart of the international collector-car market in a 1957 Mercedes-Benz 300 SL Gullwing Coupé that found a new home at €1.637.500 and a 1968 Bizzarrini 5300 GT Strada that achieved €820.000 immediately following the sale.

The auction also featured some extremely unique Italian models, fitting for the venue, including a characterful 1963 Fiat 600 Torpedo Marina by Vignale which could well be heading to a beach house after selling for €281.750 and a 1977 Fiat Bertone 850 T Visitors Bus, which created one of the most exhilarating bidding battles of the auction, and the most appreciation from those in the rotunda, selling well over its upper estimate at €189.750.

“It was a delight to welcome the international collector car community to our Concorso d’Eleganza Villa d’Este auction,” says Karsten Le Blanc, SVP, Head of EMEA Region and Broad Arrow Capital for Broad Arrow. “Their passion and enthusiasm for our offered lots created a truly exciting event that was a tremendous success. Our team curated a remarkable catalogue of classic and contemporary models, delivering an auction that was truly in keeping with the status and style of the prestigious Concorso d’Eleganza Villa d’Este.”

Top Ten Sales – Broad Arrow Concorso d’Eleganza Villa d’Este Auction

1. Lot 253 | 2023 Ferrari Daytona SP3 – €6.250.000
2. Lot 254 | 2020 Ferrari Monza SP2 – SOLD BEFORE AUCTION
3. Lot 126 | 1990 Ferrari F40 – €2.931.250
4. Lot 211 | 2015 Porsche 918 Spyder Weissach Package – €2.256.250
5. Lot 230 | 1968 Ferrari 330 GTS – €1.918.750
6. Lot 124 | 1957 Mercedes-Benz 300 SL Gullwing Coupé – €1.637.500
7. Lot 239 | 2022 Lamborghini Countach LPI 800-4 – €1.581.250
8. Lot 120 | 2023 Ferrari 812 Competizione – €1.412.500
9. Lot 243 | 1929 Bugatti Type 43 Roadster by Eugène Matthys – €1.007.500
10. Lot 114 | 1956 Ferrari 250 GT Boano Alloy Coupé – €911.875

Attention now moves to Broad Arrow’s debut as the official auction partner of The Quail, A Motorsports Gathering, with The Quail Auction from 13-14 August 2026. Collectors are also invited to discuss consignments for other Broad Arrow auctions taking place in Europe in 2026, including the Zoute Concours Auction on 9 October and Zürich Auction on 7 November.

Complete results from The Concorso d’Eleganza Villa d’Este Auction are available at broadarrowauctions.com.

Ends.

For media enquiries relating to Broad Arrow Auctions, please contact a member of the press team.

Editor’s Notes

About Broad Arrow Auctions

Broad Arrow Auctions, driven by Hagerty (NYSE: HGTY), is a leading global collector car auction house founded in 2021 by industry veterans. As the fastest-growing auction house in its segment, Broad Arrow connects exceptional collector cars with enthusiasts worldwide through flagship events including The Broad Arrow Quail Auction (the official auction of The Quail, A Motorsports Gathering), The Amelia Concours Auction (the official auction of The Amelia Concours), The Porsche Auction in collaboration with Air | Water by Luftgekühlt, the Las Vegas Auction in partnership with Concours at Wynn Las Vegas, as well as international auctions held in partnership with Concorso d’Eleganza Villa d’Este, Zoute Grand Prix, and Auto Zürich. Learn more at broadarrowauctions.com and follow us on Instagram, Facebook, LinkedIn, and X. 

About Hagerty, Inc. (NYSE: HGTY) 

Hagerty is a company built by drivers for drivers, protecting 2.7 million vehicles in the United States, Canada and the UK. We make it easier and more enjoyable for enthusiasts to drive and celebrate the machines they love through innovative insurance products, live and digital auctions, engaging media and events, as well as the Hagerty Drivers Club, the world’s largest community of car lovers.  

For more information, please visit www.hagerty.com or www.newsroom.hagerty.com.    

Forward-Looking Statements - This press release contains statements that constitute “forward-looking statements” within the meaning of the federal securities laws. All statements provided, other than statements of historical fact, are forward-looking statements, including those regarding Hagerty’s future operating results and financial position, Hagerty’s business strategy and plans, products, services, and technology implementations, market conditions, growth and trends, expansion plans and opportunities, and Hagerty’s objectives for future operations. The words “anticipate,” “believe,” “envision,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” “ongoing,” “contemplate,” and similar expressions, and the negative of these expressions, are intended to identify forward-looking statements. 

Hagerty has based these forward-looking statements largely on current expectations about future events, which may not materialize. Actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. These factors include, among other things, Hagerty’s ability to: (i) compete effectively within our industry and attract and retain our insurance policyholders and paid Hagerty Drivers Club (“HDC”) subscribers; (ii) maintain key strategic relationships with our insurance distribution and underwriting carrier partners; (iii) prevent, monitor, and detect fraudulent activity; (iv) manage risks associated with disruptions, interruptions, outages or other issues with our technology platforms or our use of third-party services; (v) accelerate the adoption of our membership and marketplace products and services, as well as any new insurance programs and products we offer; (vi) manage the cyclical nature of the insurance business, including through any periods of recession, economic downturn or inflation; (vii) address unexpected increases in the frequency or severity of claims, and (viii) comply with the numerous laws and regulations applicable to our business, including state, federal and foreign laws relating to insurance and rate increases, privacy, the internet, and accounting matters.

The forward-looking statements herein represent the judgment of Hagerty as of the date of this release and Hagerty disclaims any intent or obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise. This press release should be read in conjunction with the information included in Hagerty’s other press releases, reports and other filings with the Securities and Exchange Commission. Understanding the information contained in these filings is important in order to fully understand Hagerty’s reported financial results and its business outlook for future periods.

Attachments

• The packed sale room at Broad Arrow’s 2026 Concorso d’Eleganza Villa d’Este Auction
• The top selling 2023 Ferrari Daytona SP3 at Broad Arrow’s 2026 Concorso d’Eleganza Villa d’Este Auction

HONG KONG, May 19, 2026 (GLOBE NEWSWIRE) — Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq: FUTU), a leading tech-driven online brokerage and wealth management platform, today announced that it will report its financial results for the first quarter ended March 31, 2026, before U.S. markets open on May 28, 2026.

Futu’s management will hold an earnings conference call on Thursday, May 28, 2026, at 7:30 AM U.S. Eastern Time (7:30 PM on the same day, Beijing/Hong Kong Time).

Please note that all participants will need to pre-register for the conference call, using the link

https://register-conf.media-server.com/register/BIec7483756a8d4ef789028b4abb4be479

It will automatically lead to the registration page of “Futu Holdings Ltd First Quarter 2026 Earnings Conference Call”, where details for RSVP are needed.

Upon registering, all participants will be provided in confirmation emails with participant dial-in numbers and personal PINs to access the conference call. Please dial in 10 minutes prior to the call start time using the conference access information.

Additionally, a live and archived webcast of this conference call will be available at https://ir.futuholdings.com/.

About Futu Holdings Limited

Futu Holdings Limited (Nasdaq: FUTU) is an advanced technology company transforming the investing experience by offering fully digitalized financial services. Through its proprietary digital platforms, Futubull and Moomoo, the Company provides a full range of investment services, including trade execution and clearing, margin financing and securities lending, and wealth management. The Company has embedded social media tools to create a network centered around its users and provide connectivity to users, investors, companies, analysts, media and key opinion leaders. The Company also provides corporate services, including IPO distribution, investor relations and ESOP solution services.

Investor Contact

Investor Relations
Futu Holdings Limited
[email protected]

LONDON and PALO ALTO, Calif., May 19, 2026 (GLOBE NEWSWIRE) — LSEG and Broadcom Inc. (NASDAQ: AVGO), a global technology leader that designs, develops, and supplies semiconductor and infrastructure software solutions, today announced a renewal of their long-standing technology partnership, underpinned by a new five-year agreement centered on VMware Cloud Foundation. The initiative complements LSEG’s existing cloud partnerships.

LSEG has been using VMware software across parts of its technology stack for more than a decade. The new agreement extends this relationship, including the use of VMware Cloud Foundation to support LSEG’s private cloud platform for parts of LSEG’s infrastructure. Additionally, Broadcom will provide professional services to LSEG to roll out VMware Cloud Foundation 9 across its environments.

VMware Cloud Foundation 9 will support a consistent private cloud platform capable of supporting a wide range of workloads across both traditional and modern applications. This approach will strengthen resilience, improve operational efficiency and enhance security across a complex, highly regulated environment, while enabling greater automation over time.

“Extending our use of VMware Cloud Foundation supports an engineered private cloud for our operations, while giving us the flexibility to support new services and workloads as our technology needs evolve,” said Andrew Knight, CIO, Infrastructure and Cloud, LSEG.

“LSEG operates important market infrastructure, where reliability and performance really matter,” said Luigi Freguia, President, EMEA Sales, Broadcom. “This new five-year agreement reflects the Group’s confidence in VMware Cloud Foundation to support those demands, providing a secure and resilient platform that can evolve as market needs change.”

About Broadcom

Broadcom Inc. (NASDAQ: AVGO) is a technology leader that designs, develops, and supplies semiconductors and infrastructure software for global organizations’ complex, mission-critical needs. Broadcom combines long-term R&D investment with superb execution to deliver the best technology, at scale. Broadcom is a Delaware corporation headquartered in Palo Alto, CA. For more information, visit www.broadcom.com.

About LSEG

LSEG is a leading global financial markets infrastructure and data provider, playing a vital social and economic role in the world’s financial system. With our open approach, trusted expertise and global scale, we enable the sustainable growth and stability of our customers and their communities. We are dedicated partners with extensive experience, deep knowledge and a worldwide presence in data and analytics; indices; capital formation; and trade execution, clearing and risk management across multiple asset classes. LSEG is headquartered in the United Kingdom, with significant operations in 65 countries across EMEA, North America, Latin America and Asia Pacific. We employ over 26,000 people globally, more than half located in Asia Pacific. LSEG’s ticker symbol is LSEG.

Media Contacts:

Ollie Bennett
Broadcom EMEA Communications
[email protected]

Roger T. Fortier
VMware Cloud Foundation Division, Broadcom
+1.408.348.1569
[email protected]