Overview

• The lidar maker’s shares opened at HK$229.20, a 7.7% premium to the HK$212.80 offer price on their Hong Kong debut.
• Hesai sold 19.55 million shares to raise about HK$4.16 billion, with roughly 90% allocated to international investors and the retail tranche nearly 168.65 times oversubscribed.
• Six cornerstone investors, including HHLR Advisors, Taikang Life and WT Asset Management, committed US$148 million with six-month lock-ups.
• The company says it will use proceeds to scale production and build new facilities in China and overseas to support expanding deliveries.
• Hesai expanded a production agreement with a U.S. robotaxi firm as exclusive supplier of long- and short-range lidars in a deal worth over US$40 million through the end of 2026.