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].
禾赛科技跌2.55%创新低 上市募41.6亿港元高瓴浮亏