Hesai Group Targets $497M in Hong Kong IPO

Hesai Group, a Shanghai-based supplier of lidar sensors for autonomous vehicles and robotics, is set to raise HK$3.9 billion (US$497 million) through a Hong Kong listing.

The company will offer 17 million shares priced up to HK$228 (US$29.14) each. The public offering begins September 8, with pricing expected on September 12 and trading commencing on September 16. The listing has attracted strong interest from cornerstone investors, including Hillhouse Investment and Grab Holdings. Proceeds will be allocated toward R&D, lidar development for robotics, and new production lines, reinforcing Hesai’s position in the rapidly growing lidar market. Hesai, which is already listed in the US, raised US$192 million during its 2023 IPO.

Key Highlights

• Hesai Group seeks to raise $497M via Hong Kong IPO
• Funds to support lidar R&D, robotics, and production lines
• Move follows US delisting risks for Chinese tech firms

However, it later faced challenges when added to a Pentagon list of Chinese firms allegedly linked to the military, a claim the company disputes. The move to Hong Kong comes amid renewed US delisting risks, with Hesai becoming the first among several US-listed Chinese companies, such as Atour Lifestyle Holdings and Pony AI, to seek secondary listings this year.

The deal is being jointly sponsored by China International Capital Corp. (CICC), Guotai Junan International, and CMB International. Hesai’s dual listing strengthens its capital access while positioning it strategically in both US and Asian markets.

Also Read: Calo Raises $64M, Eyes Global Expansion & IPO by 2027

This listing highlights the broader trend of Chinese technology companies diversifying listings to mitigate geopolitical risks while fueling innovation in autonomous driving and robotics.