Core Viewpoint - Hesai Technology (禾赛科技) is experiencing significant growth in the LiDAR market, with a substantial increase in installation volumes and a strong order pipeline from major automotive manufacturers [1] Group 1: Market Performance - Hesai's stock price increased by nearly 4%, closing at 188.4 HKD with a trading volume of 38.6554 million HKD [1] - The cumulative installation volume of main LiDAR units in China's front-mounted production field reached 1.31 million units from January to August 2025, with Hesai accounting for 510,000 units [1] Group 2: Production and Delivery - Hesai's monthly installation volume of LiDAR has surged from 33,485 units to 97,583 units, nearly tripling [1] - The company plans to achieve an annual production capacity of over 2 million units by 2025, with expected annual deliveries between 1.2 million to 1.5 million units [1] Group 3: Client Base and Partnerships - Hesai has secured mass production contracts with over 24 major automotive manufacturers for more than 120 vehicle models, with deliveries planned from 2025 to 2027 [1] - Key clients include top-tier automotive manufacturers such as a leading European manufacturer, a global leader in new energy vehicle sales, and prominent brands like Li Auto, Xiaomi, Changan, Geely, Great Wall, Chery, Zeekr, and SAIC Audi [1]

Core Viewpoint - Hesai Technology (02525.HK) announced that its board of directors will hold a meeting on November 11, 2025, to consider and approve the unaudited quarterly results for the three and nine months ending September 30, 2025 [1] Group 1 - The board meeting is scheduled for November 11, 2025, at 7:00 AM Eastern Time or 8:00 PM Hong Kong Time [1] - The management will conduct an earnings conference call on the same day [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 Hesai Group 禾賽科技* （於開曼群島註冊成立以不同投票權控制的有限責任公司） （港交所股份代號：2525） （納斯達克股票代碼：HSAI） 董事會會議召開日期 禾賽科技（「本公司」）董事會（「董事會」）謹此宣佈，董事會將於2025年11月11日 （星期二，香港時間）舉行董事會會議，以考慮及批准（其中包括）本公司及其附屬 公司截至2025年9月30日止三個月及九個月的未經審計季度業績及其發佈。 本公司管理層將於2025年11月11日上午七時正（星期二，美國東部時間）或2025 年11月11日晚上八時正（星期二，香港時間）舉行業績電話會議。 有意以電話方式撥入會議的參加者，請進入下方鏈接完成預登記並請於預定開始 時間前五分鐘撥入。登記完成後，每位參加者將收到電話會議的電話撥入詳情。 此外，本次電話會議的網上直播及錄音將於本公司的投資者關係網站 https://investor.hesaitech. ...

Core Insights - The report from Gaishi Automotive Research Institute indicates that Hesai Technology has maintained the leading position in the automotive lidar market for seven consecutive months, with a market share of 46% as of August 2025, significantly higher than its competitors [1][6][14] Group 1: Market Performance - In the first eight months of 2025, the cumulative installation of automotive lidar in China reached 1.31 million units, with Hesai's contribution being 510,000 units [6] - Hesai's monthly installation volume increased from 33,485 units to 97,583 units, nearly tripling [6] - The penetration rate of lidar in new energy passenger vehicles reached 19% by August 2025, indicating a growing trend towards making lidar a standard feature in new cars [11] Group 2: Production and Capacity - Hesai plans to achieve an annual production capacity exceeding 2 million units in 2025, with expected deliveries between 1.2 million to 1.5 million units [13] - By the end of September 2025, Hesai became the first lidar company globally to produce over 1 million units in a year, marking the entry into a new era of large-scale production [13] Group 3: Technological Advancements - Hesai has developed a complete series of self-researched chips, achieving mass production of all seven key components necessary for lidar functionality, which has created a strong technological barrier [13][14] - The fourth-generation self-developed chip has optimized lidar functions and performance by integrating all critical components [13] Group 4: Market Recognition and Partnerships - Hesai is recognized as the only company globally to have independently developed all seven key components of lidar and has successfully achieved mass production of the chip modules [14] - The company has secured production contracts with over 24 major automotive manufacturers for more than 120 vehicle models, including partnerships with leading brands such as Ideal, Xiaomi, and Toyota [14]

Core Insights - Hesai Technology has maintained the leading position in the automotive lidar market for seven consecutive months, with a market share of 46%, significantly higher than its competitors [1][6][14] - The total installed volume of automotive lidar in China from January to August 2025 reached 1.31 million units, with Hesai contributing 510,000 units, marking a nearly threefold increase in monthly installation from 33,485 units to 97,583 units [6][11] - The penetration rate of lidar in new energy passenger vehicles reached 19% by August 2025, indicating a growing trend towards making lidar a standard feature in new cars [11] Company Developments - Hesai plans to achieve an annual production capacity of over 2 million units in 2025, with expected deliveries between 1.2 million and 1.5 million units [13] - The company has become the first in the world to produce over 1 million lidar units in a year, marking a significant milestone in large-scale production [13] - Hesai has successfully listed on the Hong Kong Stock Exchange, becoming the first company to achieve dual primary listings in both the US and Hong Kong, reflecting international market recognition of its technology [13] Technological Advancements - Since 2017, Hesai has focused on developing dedicated lidar chips (ASIC), enhancing performance, quality, and cost-effectiveness through optimized design [13][14] - The fourth-generation self-developed chip integrates all seven key components of lidar, showcasing significant technological advancements [13] - Hesai is the only company globally to have independently developed all seven key components of lidar and successfully achieved mass production of the chip modules [14] Market Position - According to Yole Group, Hesai holds the top global market share in automotive lidar, ADAS lidar, and L4 autonomous driving lidar, maintaining a leading position for four consecutive years [14] - The company has secured mass production contracts with over 24 OEMs for more than 120 vehicle models, with key clients including top European manufacturers and leading Chinese automakers [14]

Core Viewpoint - Hesai Technology's stock price has dropped significantly, reaching a new low since its listing, indicating potential challenges in market performance and investor sentiment [1]. Group 1: Stock Performance - Hesai Technology's stock closed at HKD 171.40, with a decline of 4.725%, and hit an intraday low of HKD 166.80, marking a new record low since its IPO [1]. - The stock price has fallen below the initial public offering price [1]. Group 2: IPO Details - Hesai Technology was listed on the Hong Kong Stock Exchange on September 16, 2025, with a total of 19,550,000 shares offered globally, including 1,955,000 shares for the Hong Kong public and 17,595,000 shares for international investors [1]. - The final offer price was set at HKD 212.80, with a maximum indicative price of HKD 228.00, raising a total of HKD 4,160.24 million, and a net amount of HKD 4,005.25 million after expenses [3]. Group 3: Use of Proceeds - Approximately 50% of the net proceeds from the IPO is planned for research and development investments, 35% (around HKD 1,297.1 million) for production capacity investments, 5% for business development, and 10% for working capital and general corporate purposes [3]. Group 4: Cornerstone Investors - Major cornerstone investors include HHLRA, Taikang Life, WT Asset Management, Grab Inc., Hongda Group, and Commando Global Fund, with HHLRA being the largest investor contributing USD 50 million [4].

Core Viewpoint - Hesai Technology's stock price has significantly declined, reaching a new low since its listing, indicating potential challenges in market performance and investor confidence [1]. Group 1: Stock Performance - Hesai Technology's stock closed at HKD 169.20, down 6.83%, with an intraday low of HKD 168.30, marking a new record low since its IPO [1]. - The stock has fallen below its initial public offering price [1]. Group 2: IPO Details - Hesai Technology was listed on the Hong Kong Stock Exchange on September 16, 2025, with a total of 19,550,000 shares offered globally, including 1,955,000 shares for Hong Kong and 17,595,000 shares for international investors [1]. - The final offer price was HKD 212.80, with a maximum public offer price of HKD 228.00, raising a total of HKD 4,160.24 million, and a net amount of HKD 4,005.25 million after expenses [3]. Group 3: Use of Proceeds - Approximately 50% of the net proceeds from the IPO are planned for research and development investments [3]. - About 35% (approximately HKD 1,297.1 million) is allocated for production capacity investments to ensure the delivery of high-performance products [3]. - 5% is designated for business development to accelerate expansion, and 10% is for working capital and general corporate purposes [3]. Group 4: Cornerstone Investors - Major cornerstone investors include HHLRA, Taikang Life, WT Asset Management, Grab Inc., Hongda Group, and Commando Global Fund [3]. - HHLRA is the largest cornerstone investor, contributing USD 50 million, followed by Taikang Life with USD 28 million and WT Asset Management with USD 30 million [4].

Core Viewpoint - Hesai Technology's stock price has fallen to a new low since its listing, indicating potential challenges in market performance and investor sentiment [1]. Group 1: Stock Performance - Hesai Technology's stock closed at HKD 183.20, down 2.55%, with an intraday low of HKD 173.00, marking a new low since its IPO [1]. - The stock price has fallen below the IPO price, reflecting a decline in market confidence [1]. Group 2: IPO Details - Hesai Technology was listed on the Hong Kong Stock Exchange on September 16, 2025, with a final offer price of HKD 212.80 and a maximum public offer price of HKD 228.00 [3]. - The total amount raised from the global offering was HKD 4,160.24 million, with a net amount of HKD 4,005.25 million after deducting estimated listing expenses [3]. Group 3: Use of Proceeds - Approximately 50% of the net proceeds from the offering is planned for research and development investments [3]. - About 35% (approximately HKD 1,297.1 million) is expected to be allocated for production capacity investments to ensure the delivery of high-performance products [3]. - Around 5% is intended for business development to accelerate expansion, and 10% is earmarked for working capital and general corporate purposes [3]. Group 4: Cornerstone Investors - Major cornerstone investors include HHLRA, Taikang Life, WT Asset Management, Grab Inc., Hongda Group, and Commando Global Fund [3]. - HHLRA is the largest cornerstone investor, contributing USD 50 million, followed by Taikang Life with USD 28 million and WT Asset Management with USD 30 million [4].

Core Viewpoint - Hesai Technology (02525) announced the end of the stabilization period for its global offering on October 11, 2025, which is 30 days after the deadline for submitting the Hong Kong public offering application [1] Group 1: Stabilization Actions - During the stabilization period, the stabilization agent, China International Capital Corporation Hong Kong Securities Limited, conducted stabilization actions including the allocation of 2.9325 million shares, representing 15% of the total shares available for subscription under the global offering [1] - The underwriter and overall coordinator exercised the overallotment option on September 16, 2025, at a price of HKD 212.80 per share, totaling 2.9325 million shares to cover the overallotment under the international offering [1] - No purchases or sales of Class B ordinary shares were made in the market by the stabilization agent for stabilization purposes during the stabilization period [1]

香港交易及結算所有限公司、香港聯合交易所有限公司（「聯交所」）及香港中央結算有限公司對 本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不會就本公告 全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 本公告不會直接或間接於或向美國（包括美國的領土及屬地、美國任何州以及哥倫比亞特區）發 佈、刊發或派發。本公告並不構成亦不屬於在美國境內或於任何其他司法權區購買或認購證券 的任何要約或遊說的一部分。除非已根據經修訂的1933年美國《證券法》進行登記或獲豁免遵守 登記規定，否則證券不得在美國發售或出售。凡在美國公開發售我們的任何證券，均須以刊發 可從我們獲得的招股章程的方式進行。該招股章程將載有有關我們及我們管理層以及財務報表 的詳盡資料。我們已於2025年9月5日就全球發售向美國證券交易委員會遞交F-3表格的註冊聲 明（經修訂）。 本公告僅作說明用途，並不構成收購、購買或認購證券的邀請或要約。本公告並非招股章程。 有意投資者於決定是否投資發售股份前應閱覽Hesai Group（「本公司」）刊發日期為2025年9月8 日的招股章程（「招股章程」），以獲得下文所述有關全球發售 ...