Hesai Technology (NASDAQ:HSAI, SEHK:2525), a global leader in three-dimensional light detection and ranging (LiDAR) solutions and portfolio company of Qiming Venture Partners, completed its dual primary listing on the Hong Kong Stock Exchange on September 16th. Hesai Technology was issued at HK$212.8 per share, representing a market capitalization of HK$32.6 billion.
Qiming has long recognized the transformative potential of autonomous driving technology. In 2019, Qiming invested in Hesai Technology's Series C round and followed on in its Series D round.
Founded in 2014, Hesai Technology designs, develops, manufactures, and sells advanced LiDAR products. Leveraging advanced ASIC and other LiDAR technologies, proprietary in-house design, manufacturing capacities, and platform level-shared architecture, Hesai Technology delivers LiDAR products that balance performance, quality, and cost for the expanding ADAS and robotics markets.
Founded in 2014, Hesai Technology designs, develops, manufactures, and sells advanced LiDAR products. Leveraging advanced ASIC and other LiDAR technologies, proprietary in-house design, manufacturing capacities, and platform level-shared architecture, Hesai Technology delivers LiDAR products that balance performance, quality, and cost for the expanding ADAS and robotics markets.
Dr. Kai Sun, Co-Founder & Chief Scientist of Hesai Technology, said, "Over the past decade, Hesai Technology has leveraged its chip-based architecture and automated production system to reduce LiDAR costs from $100,000, which was once limited to research institutions, to $200. This breakthrough has enabled the adoption in millions of vehicles and brought advanced safety and intelligence to the public. As the AI-driven fourth industrial revolution unfolds and rising productivity continues to improve lives, Hesai Technology remains committed to delivering core technologies and products. Great technology should benefit everyone. With our Hong Kong stock code 2525, we hope Hesai Technology's contributions will be remembered for centuries to come, inspiring us to keep moving forward."
