02525 禾賽－Ｗ
HESAI-W
HESAI-W
| Listing Date | 2025/09/16 |
| Listing Price | 212.800 |
Subscription Result
- Subscription Rate168.65x
- Guarantee One Lot Size150 lot
- One Lot Success Rate30%
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IPO Detail
COMPANY PROFILE
Hesai Group is a global leader in three-dimensional light detection and ranging (LiDAR) solutions. The Group design, develop, manufacture, and sell advanced LiDAR products. The Group’s LiDAR products enable a broad spectrum of applications across passenger or commercial vehicles with advanced driver assistance systems, and autonomous vehicle fleets providing passenger and freight mobility services, robotics and other non-automotive industries, such as automated guided vehicles/autonomous mobile robots, delivery robots, agricultural vehicles, wide industrial applications such as port and yard automation, and stationary applications.
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The Group’s AT series, ET series and FT series are its breakthrough products for the ADAS market. The Group’s LiDAR product lines for autonomous vehicle fleet primarily include its Pandar series and QT series. The Group remain the only LiDAR company in the industry that have in-house developed all seven key components. It ranked third in terms of revenue scale in the global ADAS market in 2024, according to CIC.
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According to the report, the Group was the No. 1 LiDAR supplier globally in each of 2022, 2023 and 2024 in terms of revenue. By December 2024, the Group became the first LiDAR company globally to achieve 100,000 units shipment in a single month.
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The Group currently operates two manufacturing facilities, Hertz Center in Hangzhou and Maxwell Center in Shanghai, to produce and assemble LiDAR products. The Group served customers in the ADAS and Robotics markets, covering approximately 50 countries and regions as of March 31, 2025.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | IT Hardware |
| Major Business Area | China |
| Board Lot | 20 |
GLOBAL OFFERING
| No. of Offer Shares | 19.55M shares |
| No. of International Offer Shares | 17.60M shares |
| No. of HK Offer Shares | 1.96M shares |
| Offer Price | $228.00 |
| Stock Code | 2525 |
| Sponsor(s) | China International Capital Corporation Hong Kong Securities Limited, Guotai Junan Capital Limited, CMB International Capital Limited |
| Underwriter(s) | China International Capital Corporation Hong Kong Securities Limited, Guotai Junan Securities (Hong Kong) Limited, CMB International Capital Limited, Haitong International Securities Company Limited, BOCI Asia Limited, Futu Securities International (Hong Kong) Limited, DBS Asia Capital Limited, ICBC International Securities Limited, ABCI Securities Company Limited, CCB International Capital Limited |
TIME TABLE
| Application Period | Sep 08 (Mon) - noon, Sep 11 (Thu) |
| Price Determination Date | Sep 12 (Fri) |
| Result Announcement Date | On or before Sep 15 (Mon) |
| Result Announcement Date | On or before Sep 15 (Mon) |
| Result Announcement Date | On or before Sep 16 (Tue) |
| Dealings in Shares commence on | Sep 16, 2025. (Tue) |
Reallocation of Shares Offered
Sales Statistics (HKD)
| Offer Price | $228.00 |
| Capitalization | 34.35B |
| NAV / share ($) | $55.61 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 228.00, the net proceeds raised would be HKD 3.71B, of which |
| 50% : Investment in research and development |
| 35% : Investment in manufacturing capabilities |
| 5% : Accelerate business expansion |
| 10% : Working capital |
IPO NEWS
| 16/09/2025 16:09 |
| {New Stock}HESAI-W(02525) ends up 9.96% at HK$234 |
| 16/09/2025 09:21 |
| {New Stock}HESAI-W(02525) opens up 7.71% at HK$229.2 |
| 15/09/2025 18:35 |
| {New Stock}HESAI-W ends up 7.24% at HK$228.2 on grey market |
| 15/09/2025 16:20 |
| {New Stock}HESAI-W up 6.11% at HK$225.8 on grey market |
Related Document
| Prospectus |  Chinese Version | English Version |
| Remark： | The above information is referenced from the prospectus. |
| All data is calculated from the non- exercise rights(if applicable). |
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*Admission fees include brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.005% and FRC transaction levy of 0.00015% (i.e. 1.0077% in total).