Overview

• H-shares opened at HK$229.20, a 7.7% premium to the HK$212.80 offer price, after a heavily oversubscribed sale.
• The offering raised about HK$4.16 billion from 19.55 million shares, with roughly 90% placed with international investors and six cornerstone buyers committing US$148 million for six months.
• Hesai expanded a production agreement with an unnamed U.S. robotaxi firm exceeding US$40 million to supply long- and short-range LiDAR through the end of 2026.
• Executives said proceeds will go to new facilities in China and overseas to bolster product competitiveness, with lidar units priced near US$200 to broaden adoption.
• The U.S. Defense Department labeled Hesai a “Chinese Military Company” last year, a designation the company rejects, while Yole Group reports it holds about 61% of the L4 LiDAR market.