Hesai Group Lists Shares on Hong Kong Exchange, Raises HKD 4.2 Billion

Hesai Group, a Chinese LiDAR producer, listed shares on the Hong Kong Stock Exchange, raising HKD 4.2 billion ($533 million) for future growth. The company saw a 276% increase in LiDAR system deliveries in the first half of 2025, with over 120 series production programs secured from 24 automakers. Hesai plans to use the funds to drive growth and simplify its design while improving performance and cutting costs with its fourth-generation digital single-photon platform.

Hesai Group, a prominent Chinese LiDAR manufacturer, has secured a significant order from an unnamed US robotaxi company, further cementing its position in the autonomous vehicle market. The deal, valued at over $40 million, underscores Hesai's reliability and technological prowess in providing both long-range and short-range LiDAR products Chinese LiDAR maker Hesai announces $40 million order from unnamed US robotaxi firm^[1].

This latest order is the second major announcement from Hesai this month, following its previous exclusive LiDAR supply agreement with Motional, an autonomous driving company backed by Hyundai Motor Chinese LiDAR maker Hesai announces $40 million order from unnamed US robotaxi firm^[1]. The company's strategic partnerships and robust product offerings have positioned Hesai as a key player in the global LiDAR market, particularly in the realm of autonomous vehicles.

The order is part of a broader trend in the autonomous driving sector, as companies like Waymo and Tesla expand their robotaxi services across multiple cities in the US. The recent proposal by the U.S. Transportation Secretary to ease regulations for autonomous driving further highlights the industry's growth potential Chinese LiDAR Maker Hesai Announces $40 Million Deal With Unnamed US Robotaxi Company Amid Autonomous Push^[3].

Hesai's growth trajectory is also reflected in its financial performance. The company achieved non-GAAP net income of about RMB 13.7 million ($1.92 million) and operating cash flow of RMB 63 million in 2024, becoming the world's first publicly listed LiDAR maker to report annual profitability and positive operating cash flow Chinese LiDAR maker Hesai announces $40 million order from unnamed US robotaxi firm^[1]. Moreover, Hesai delivered 501,900 LiDARs in 2024, representing a 126 percent year-on-year increase Chinese LiDAR maker Hesai announces $40 million order from unnamed US robotaxi firm^[1].

In addition to its recent order, Hesai has secured over 120 series production programs from 24 automakers in the first half of 2025, demonstrating the company's strong market demand and strategic partnerships Hesai jumps in Hong Kong debut after HK$4.2 billion listing^[2]. The company plans to use the proceeds from its HKD 4.2 billion ($533 million) listing on the Hong Kong Stock Exchange to drive growth, simplify its design, and improve performance while cutting costs with its fourth-generation digital single-photon platform Hesai jumps in Hong Kong debut after HK$4.2 billion listing^[2].

Geopolitical risks persist for Hesai, as the company was added to a Pentagon blacklist of companies linked to China’s military in 2024. However, Hesai has denied any ties with China’s military and has challenged its inclusion in the list Hesai jumps in Hong Kong debut after HK$4.2 billion listing^[2].