Core Viewpoint - Hesai Technology (02525.HK) has seen a significant decline in its stock price, closing at HKD 170.00, a drop of 9.526%, and reaching an all-time low of HKD 165.90 since its listing on November 16, 2025, indicating a fall below its initial public offering price [1] Group 1: IPO Details - Hesai Technology's 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 deducting estimated listing expenses of HKD 154.99 million [3] - The global offering consisted of 19,550,000 shares, with 1,955,000 shares allocated for the Hong Kong offering and 17,595,000 shares for international offering [1] Group 2: Use of Proceeds - Approximately 50% of the net proceeds from the offering is expected to be allocated for research and development investments [3] - About 35% (approximately HKD 1,297.1 million) is planned for investment in production capacity to ensure the delivery of high-performance and reliable products [3] - Around 5% is designated for business development to accelerate expansion, and 10% is allocated for working capital and general corporate purposes [3] Group 3: Key Investors - The cornerstone investors include HHLRA, Taikang Life, WT Asset Management, Grab Inc., Hongda Group, and Commando Global Fund, with HHLRA being the largest investor [4] - HHLRA invested USD 50.0 million, while other investments included USD 28.0 million from Taikang Life, USD 30.0 million from WT Asset Management, USD 10.0 million from Grab Inc., USD 20.0 million from Hongda Group, and USD 10.0 million from Commando Global Fund [4]
港股破发股禾赛科技跌9.53% 募41.6亿港元高瓴浮亏