禾賽科技＊ Hesai Group （於開曼群島註冊成立以不同投票權控制的有限責任公司） 股份代號 : 2525 全球發售 整體協調人、聯席全球協調人、聯席賬簿管理人及聯席牽頭經辦人 聯席全球協調人、聯席賬簿管理人及聯席牽頭經辦人 聯席賬簿管理人及聯席牽頭經辦人 ＊ 僅供識別 重要提示 重要提示：倘 閣下對本文件的任何內容有疑問， 閣下應徵詢獨立專業意見。 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） 全球發售 全球發售的發售股份數目 : 17,000,000股發售股份（視乎發售量調整權 及超額配股權行使與否而定） 香港發售股份數目 : 1,700,000股發售股份（可予以調整及視乎 發售量調整權行使與否而定） 國際發售股份數目 : 15,300,000股發售股份（可予以調整及視乎 發售量調整權及超額配股權行使與 否而定） 最高公開發售價 : 每股發售股份228.00港元，另加1.0%經紀佣 金、0.0027%證監會交易徵費、0.00015% 會財局交易徵費及0.00565%聯交所交易 費（須於申請時以港元繳足，多繳股款可 予退還） 面值 : 每股發售股份0.00 ...

Core Viewpoint - The LiDAR industry is experiencing significant growth driven by advancements in autonomous driving, smart transportation, and robotics, with Hesai Technology poised to capitalize on this opportunity through its upcoming IPO in Hong Kong [1]. Group 1: Company Overview - Hesai Technology is a leading global provider of 3D LiDAR solutions, focusing on the design, development, manufacturing, and sales of advanced LiDAR products [2]. - The company has established a strong product matrix that includes applications in passenger and commercial vehicles, robotics, smart agriculture, and port automation [2][4]. - Since its inception, the company has prioritized independent research and development of key LiDAR components, achieving the highest integration rate of self-developed chips in the industry starting from 2023 [2][3]. Group 2: Technological Advancements - Hesai's fourth-generation self-developed chip optimizes LiDAR functionality and performance by integrating all seven key components, making it the only company in the industry to independently develop all these components [3]. - The company has successfully launched four generations of self-developed chips since October 2020, each enhancing product performance and significantly reducing production costs [3][4]. Group 3: Market Performance - The company has experienced rapid growth in shipment volume and revenue, with approximately 80,400 units shipped in 2022, 222,100 units in 2023, and projected shipments of 501,900 units in 2024 [6]. - Hesai's net revenue reached RMB 1,202.7 million in 2022, RMB 1,877.0 million in 2023, and RMB 2,077.2 million in 2024, with a 46.3% year-on-year increase in Q1 2025 [7]. - The company is recognized as the largest global LiDAR supplier by revenue for 2022, 2023, and 2024, and became the first to exceed 100,000 units shipped in a single month by December 2024 [7]. Group 4: Industry Growth - The global LiDAR market is projected to grow from USD 300 million in 2020 to USD 1.6 billion in 2024, with a compound annual growth rate (CAGR) of 57.8%, and is expected to reach USD 17.3 billion by 2029, with a CAGR of 61.7% [7]. - The Chinese LiDAR market is significantly outpacing other regions in terms of market size and growth rate [7]. Group 5: Future Outlook - Hesai Technology aims to leverage its technological and manufacturing expertise to strengthen its leading position in the global LiDAR market and expand its footprint in the robotics sector [8].