Hesai Group Launches Global Offering

Core Viewpoint - Hesai Group is launching a global offering of 17,000,000 Class B ordinary shares, which includes a Hong Kong public offering and an international offering, along with a dual-primary listing on the Hong Kong Stock Exchange [1][2]. Offering Details - The global offering consists of 1,700,000 Class B ordinary shares for the Hong Kong public offering and 15,300,000 Class B ordinary shares for the international offering [1]. - The company has an option to issue an additional 2,550,000 Class B ordinary shares, representing 15% of the total shares initially available, to meet excess demand [3][4]. - The initial allocation for the Hong Kong public offering and the international offering is approximately 10% and 90% of the total shares, respectively, with potential adjustments based on oversubscription [5]. Pricing Information - The maximum offer price for the Hong Kong public offering is set at HK$228.00 (approximately US$29.04) per Class B ordinary share [6]. - The final offer price for the international offering will be determined around September 12, 2025, based on market conditions and investor demand [6]. Cornerstone Investments - The company has secured cornerstone investment agreements totaling approximately US$148.0 million, which represents about 29.8% of the shares initially offered [7]. Use of Proceeds - The net proceeds from the global offering will be allocated towards research and development, enhancing manufacturing capabilities, business development, and general corporate purposes [8]. Company Overview - Hesai Technology is a leader in lidar solutions, providing products for various applications including autonomous vehicles and robotics, with a strong focus on R&D and manufacturing integration [13].