Hesai Group, the world’s leading LiDAR sensor manufacturer, is set to launch its secondary listing offering in Hong Kong, with shares scheduled to begin trading on the Hong Kong Stock Exchange on September 16. The company plans to offer 17 million class B shares globally, with an international offering of 15.3 million shares starting on September 6 and a Hong Kong public offering of 1.7 million shares beginning on September 8. The offering price is capped at HK$228 per share, aiming to raise up to HK$3.88 billion.
Hesai’s class B ordinary shares will be dual listed on the main board of the Hong Kong Stock Exchange under the stock code “2525”. The company’s American Depositary Shares (ADS) will continue trading on Nasdaq under the ticker “HSAI”. The ADS closed at $26.49 on September 4.
The funds raised from the offering will be used for R&D investments, manufacturing capacity expansion, business development, and general corporate purposes. Hesai, founded in 2014, specializes in the design, development, manufacturing, and sale of advanced LiDAR products. The company’s major clients include Li Auto, Zeekr, Leapmotor, and Xiaomi.
In 2024, Hesai reported non-GAAP net income of approximately RMB 13.7 million and operating cash flow of RMB 63 million, making it the world’s first publicly listed LiDAR manufacturer to achieve annual profitability and positive operating cash flow. The company delivered 501,900 LiDAR units in 2024 and projects shipments of 1.2 million to 1.5 million units in 2025, representing significant year-on-year growth.
In December 2024, Hesai surpassed 100,000 units shipped in a single month, a milestone achievement in the LiDAR industry. The company continues to innovate and expand its global presence, with plans to break ground on its first overseas project by the end of this year, aiming to start production in 2026.
Hesai’s listing in Hong Kong marks a significant milestone for the company as it seeks to further solidify its position as a key player in the LiDAR market. Investors and industry experts will be closely watching the performance of Hesai’s shares as they begin trading on the Hong Kong Stock Exchange next week.
