Hesai Group (Ticker: 2525 HK) is a China-based leader in three-dimensional LiDAR solutions used in advanced driver assistance systems (ADAS), autonomous vehicles, robotics and industrial automation. Hesai plans to list Class B shares on the HKEX Main Board on Sept. 16, 2025, offering 17.0 million new shares at HKD 228.00 per share to raise about HKD 3.88 billion (USD 497.3 million). All shares are primary, with a 15% greenshoe of 2.55 million shares available. The offering is managed by a syndicate including ABCI Capital, BOCI Asia, CCB International, CMB International, CICC HK Securities, DBS Asia Capital, Futu Securities and others, with CMB International, Guotai Junan Capital and CICC HK Securities as sponsors. Hesai intends to use IPO proceeds for R&D and product capacity expansion, brand promotion and business development, as well as working capital and strategic acquisitions.