Details
🔭 Laser Focus on Growth: Hesai is the world’s largest producer of lidar sensors. In the second quarter, revenue jumped 54% to 706 million RMB (99 million USD), while net profit reached 44 million RMB (6 million USD).
💰 Offering Size: The company aims to raise up to 3.9 billion HKD (about 500 million USD) by selling 17 million shares at a maximum price of 228 HKD.
⏱️ Fast-Track IPO: Bookbuilding is already underway, with the final price to be set on Friday. The debut is scheduled for September 16.
🧱 Blacklist Roadblock: In 2024, the Pentagon placed Hesai on its blacklist, citing possible military uses of its sensors. The company denies the claim and is suing to overturn the decision.
🚗 New Models on Display: At IAA Mobility 2025 in Munich, Hesai unveiled its next-generation lidar lineup, including the ETX with a 400-meter range and 800 channels. Mass production is planned for 2026.
🧪 Use of Proceeds: The fresh capital will fund new lidar products, robotics applications, and additional production lines.
Big Picture
The Hong Kong listing shows how Chinese tech firms are turning to alternatives as the U.S. market closes off. Hesai is using the city as a funding hub to secure growth despite political headwinds. The case is emblematic of Beijing’s push to keep critical future technologies independent from Western markets.
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