禾赛科技赴港上市备案获批

Group 1 - The core point of the news is that Hesai Technology is planning to issue up to 51.2362 million ordinary shares and list on the Hong Kong Stock Exchange, following its NASDAQ listing in 2023, indicating a move towards further financing and liquidity in the capital markets [1] - Since its establishment in 2014, Hesai Technology has been a representative enterprise in the domestic LiDAR sector, focusing on products for autonomous driving and advanced driver-assistance systems (ADAS), and has extended its applications to robotics and industrial scenarios [1][2] - In Q2 2025, Hesai reported revenue of 706.4 million yuan, a year-on-year increase of 53.9%, and achieved a net profit of 44.1 million yuan, marking its first quarterly profit and indicating a shift from technology validation to industrialization in the LiDAR market [2] Group 2 - The decision to pursue a Hong Kong listing reflects a diversification strategy in capital markets and a desire for financing and valuation recovery, as the U.S. capital market has shown significant pricing volatility for Chinese tech stocks [2][3] - The move by Hesai to seek a Hong Kong listing is seen as a sign of the LiDAR industry entering a new expansion cycle after a period of capital constraints, as demand uncertainty and cost pressures had previously affected the supply chain [2][3] - The successful filing for overseas listing by Hesai indicates a shift in the regulatory environment, with the China Securities Regulatory Commission implementing a filing system for overseas listings, which supports the international financing of key technology companies in the smart automotive industry [3]