New stock on the first day | Hesai-W (02525) first listed on the market with an opening price 7.71% higher in the early trading session. The company is the world's largest supplier of LiDAR.

Hesai-W (02525) is listed for the first time, according to the announcement, priced at 212.80 Hong Kong dollars per share, with a total of 19.55 million shares issued, 20 shares per lot, and a net amount of approximately 4.005 billion Hong Kong dollars. As of the time of writing, it has risen by 7.71% to 229.2 Hong Kong dollars, with a turnover of 2.14 billion Hong Kong dollars. Public information shows that Hesai Technology was established in 2014, mainly engaged in research and production of LiDAR sensors, which are widely used in supporting advanced driver assistance systems (ADAS) for passenger and commercial vehicles, as well as autonomous driving vehicles and various applications of Siasun Robot & Automation, mobile Siasun Robot & Automation, and other types of Siasun Robot & Automation. Hesai Technology landed on the US stock market in February 2023, issuing 10 million ADS at a price of 19 US dollars per ADS, raising 190 million US dollars, becoming the first Chinese LiDAR company listed in the United States. In recent years, with the continuous growth in demand for autonomous driving technology, Siasun Robot & Automation, and other related industries, the LiDAR industry has developed rapidly. According to data from Zhoushi Consulting, the global LiDAR industry's revenue increased from 300 million US dollars in 2020 to 1.6 billion US dollars in 2024, with a compound annual growth rate of 57.8%, and is expected to increase to 17.3 billion US dollars by 2029, with a compound annual growth rate of 61.7%. Specifically, the market size and growth rate of China's LiDAR industry have far exceeded other regions. According to Zhoushi Consulting data, based on revenue, the company was the world's largest LiDAR supplier in 2022, 2023, and 2024. By December 2024, the company became the world's first LiDAR company to ship over 100,000 units in a single month.