Shares of Hesai Group, a Chinese autonomous driving tech company, now publicly trade on the Hong Kong Stock Exchange.
Hesai Debuts on Hong Kong Stock Exchange, Announces Fourth-Generation LiDAR Platform
Hesai Technology, a leading Chinese LiDAR systems producer, made its debut on the Hong Kong Stock Exchange on September 16, 2025. The company's share price rose by 7% on the first day of trading.
The debut comes after Hesai announced its fourth-generation digital single-photon platform, which integrates seven key components. This new platform, already in mass production with Hesai's ATX series chipset, is set to be used in the company's new ETX line.
Dr. Kai Sun, co-founder and chief scientist of Hesai, stated that the company has reduced the cost of LiDAR from USD 100,000 to USD 200. This cost reduction is expected to drive the adoption of LiDAR technology in the automotive industry, making autonomous driving more accessible.
Key customers of Hesai include a top European OEM, a best-selling EV maker, Li Auto, Changan, Geely, Great Wall Motor, Chery, Zeekr, Leapmotor, SAIC Audi, SAIC-GM, and a Toyota joint-venture. The company has secured more than 120 series production programs from 24 automakers, with deliveries scheduled for 2025-2027.
In the first half of 2025, Hesai delivered 547,900 LiDAR systems to clients, a 276% increase over the same period of the previous year. Deliveries of LiDAR systems for Advanced Driver-Assistance Systems (ADAS) increased by 238% to 449,650 units in the same period.
Hesai was founded in 2014 and has been developing LiDAR-specific chips since 2017. The company's LiDAR systems are used by automotive manufacturers including Toyota, Audi China, and Chinese companies like BYD and Xiaomi.
The new Hong Kong share offering raised around HKD 4.2 billion (US$ 533 million) for the company. Dr. Sun also mentioned that Hesai is committed to delivering core technologies and products that define the new AI-driven Fourth Industrial Revolution.
The Just Auto Excellence Awards celebrate innovation, leadership, and impact, and are open for nominations. It is expected that Hesai will be a strong contender for these news awards, given its significant contributions to the LiDAR industry and the automotive sector as a whole.
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