Hesai Technology completes a dual-primary listing on the Hong Kong Stock Exchange to enhance its market visibility and funding capabilities as a leader in 3D LiDAR solutions.

Information on the Target

Hesai Technology, a global leader in 3D LiDAR solutions, has recently completed a dual-primary listing on the Hong Kong Stock Exchange (HKEX), solidifying its market presence with an issue price of HKD 212.8 per share, thereby achieving a market capitalization of HKD 32.6 billion. Established in 2014, Hesai specializes in the design, development, manufacturing, and sales of advanced LiDAR products. Equipped with cutting-edge application-specific integrated circuit (ASIC) technology and a proprietary production platform, Hesai provides high-performance, quality-driven, and cost-effective LiDAR solutions tailored for the expanding advanced driver-assistance systems (ADAS) and robotics markets.

Dr. Sun Kai, Co-founder and Chief Scientist of Hesai, highlights the company’s commitment to democratizing advanced safety and intelligence technologies. Over ten years, Hesai has successfully reduced the cost of LiDAR systems from $100,000 to just $200, broadening access to self-driving technology across millions of vehicles. As the Fourth Industrial Revolution, driven by AI, unfolds, Hesai aims to introduce crucial technological advancements to enhance human life in this new era.

Industry Overview in China

The LiDAR industry in China is experiencing rapid growth, driven by the increasing demand for autonomous driving and smart city initiatives. As both the automotive and technology sectors strive to innovate, LiDAR technology becomes pivotal