New stock news | Hesai (02525) listed on the HKEX main board leading the global intelligent future with Siasun Robot & Automation perception technology.

On September 16th, Hesai Group Sponsored ADR, a leading global laser radar company, officially listed on the HKEX main board, becoming the first laser radar company to achieve dual major listings of "US stock + Hong Kong stock". Hesai Group Sponsored ADR co-founder and CEO, Li Yifan, co-founder and chief scientist, Sun Kai, and co-founder and CTO, Xiang Shaoqing, led the company's core founding team to witness this milestone moment. This IPO is the largest IPO in the global laser radar industry to date and the largest IPO of Chinese concept stocks returning to Hong Kong in nearly four years, with a pre-greenshoe financing amount exceeding HK$4.16 billion (US$533 million). Hesai Group Sponsored ADR received enthusiastic subscriptions from global investors, successfully attracting top sovereign and long-term funds globally, Chinese opinion leaders, multi-strategy funds, and well-known industrial investors, demonstrating the strategic consensus of the capital market on the laser radar track and recognition of the commercialization capabilities and technical value of Hesai Group Sponsored ADR. Hesai Group Sponsored ADR opened today at HK$244.0 per share, with a market value exceeding HK$36 billion. Dr. Sun Kai, co-founder and chief scientist of Hesai, stated in his speech, "Over the past decade, with a chip-based architecture and automated production system, Hesai has reduced the cost of laser radar from $100,000 for research institutions to $200, enabling millions of vehicles to be equipped with advanced safety and intelligent technology, benefiting the public. Looking to the next decade, the fourth industrial revolution centered on AI is quietly approaching, and the leap in social productivity will significantly improve human life. Hesai will provide new core technologies and products for this new era. Great technology should enhance the lives of everyone. Hesai's Hong Kong stock code, 2525, we hope the company's contribution to the new era can be remembered by people 500 years from now, inspiring all Hesai people to move forward, and forward again." Established in 2014, Hesai Group Sponsored ADR is a leading global laser radar research and manufacturing company, with products widely used to support advanced driver assistance systems (ADAS) in passenger and commercial vehicles, autonomous vehicles, as well as various intelligent applications in Robotaxi and AGV from Siasun Robot & Automation. Currently, Hesai Group Sponsored ADR holds three global firsts in the automotive LiDAR market: the top global market share for LiDAR in vehicles, the top global market share for ADAS LiDAR, and the top global market share for L4 autonomous driving LiDAR. The company is the only one in the industry to have achieved the title of "multiple global firsts" for four consecutive years, leading the global market continuously. By 2024, the company achieved revenue of 20.8 billion RMB, with annual deliveries doubling for four consecutive years, becoming the first and only listed laser radar company to achieve profitability for the entire year, the first globally listed laser radar company to have positive annual operating and net cash flow. The company's revenue compound growth rate from 2021 to 2024 reached 42.3%, maintaining a high-speed growth. In the ADAS field, Hesai's LiDAR has become a standard safety feature in assisted driving, assisting in the launch of many popular vehicle models. Hesai has obtained production contracts from 24 OEMs for over 120 vehicle models, with deliveries planned from 2025 to 2027, including from a top European OEM, a global new energy vehicle sales champion, Idean, Changan, Geely, Great Wall, Chery, NIO, SAIC Audi, SAIC General Motors, Toyota's joint venture brands, as well as a top technology giant's intelligent automotive brands. In the field of Siasun Robot & Automation, Hesai has become the preferred LiDAR supplier for the world's top Robotaxi companies, with nine out of the top ten Robotaxi companies globally choosing Hesai as their main LiDAR supplier, including Motional, Baidu Inc Sponsored ADR Class A, Robo-Taxi, DiDi Autonomous Driving, Pony.ai, TuSimple, among other leading autonomous driving companies. The JT series from Hesai has broken through 100,000 units delivered in less than 5 months, setting a new global record. Since 2017, Hesai has been developing dedicated LiDAR chips (ASIC), significantly improving performance, quality, and cost-effectiveness through simplified product architectures and optimized designs, gaining a significant advantage in the competitive market. Its chip products have achieved mass production across the entire range, forming a strong technological barrier. The company's fourth-generation self-developed chip has optimized LiDAR functionality and performance, integrating all seven key components, including the laser, detector, laser driver, TIA chip, ADC chip, digital signal processor, and controller. According to data from Zhishi Consulting, the company is the only LiDAR company in the industry to independently develop all seven key components and the first to successfully achieve mass production of chip modules for emission and reception. Leveraging its self-developed chip path, Hesai Group Sponsored ADR has developed a strong product line, including the AT, ET series, and JT series, which have quickly gained market recognition and secured production agreements domestically and abroad, driving the company's continued growth. Listing on the HKEX main board marks a new milestone for Hesai, not only demonstrating the international capital market's recognition of Chinese LiDAR technology, but also opening a new chapter for Hesai's global strategy layout. Looking ahead, Hesai will continue to rely on chip innovation and global layout to make the "perception eye" of Chinese intelligent manufacturing a standard for global intelligent travel, while empowering Siasun Robot & Automation to lead the global smart future.