Hesai Technology lands on the Hong Kong Stock Exchange: the world's first US stock + Hong Kong stock dual-listed lidar company
Recently, Hesai Group officially landed on the Hong Kong Stock Exchange, becoming the world's first lidar company to be listed on both the US and Hong Kong stocks. This milestone event not only marks the further expansion of Hesai Technology in the global capital market, but also injects new vitality into the development of the lidar industry. This article will analyze Hesai Technology's listing trends, industry background, financial data and market prospects.
1. Hesai Technology's listing updates
Hesai Technology was listed on the Nasdaq in the United States in January 2023. After more than a year, it successfully landed on the Hong Kong Stock Exchange with the stock code "2508.HK". This time the Hong Kong stock market is listed, Hesai Technology has issued a total of 10 million shares, with an issue price of HK$19 per share, and raised approximately HK$190 million. The following are the key data for the dual listing of Hesai Technology:
| Listing location | Stock code | Issuance Price | Raise funds | Time of listing |
|---|---|---|---|---|
| Nasdaq | HSAI | $19 | $190 million | January 2023 |
| Hong Kong Stock Exchange | 2508.HK | HKD 19 | HK$190 million | May 2024 |
2. Industry background and market position
LiDAR is one of the core sensors of autonomous driving technology and is widely used in automobiles, robots, surveying and mapping fields. As the world's leading lidar manufacturer, Hesai Technology has competitive advantages in performance, reliability and cost. The following is a comparison of Hesai Technology's market share with its main competitors:
| Company Name | Market share in 2023 | Major customers |
|---|---|---|
| Hesai Technology | 28% | Ideal Auto, Xiaopeng Auto, Baidu Apollo |
| Luminar | twenty two% | Volvo, Mercedes-Benz |
| Innoviz | 15% | BMW, Volkswagen |
3. Financial data and performance
Hesai Technology's revenue has grown rapidly in recent years, but due to the increasing R&D investment, its net profit is still in a loss state. The following are the financial data of Hesai Technology from 2021 to 2023:
| years | Revenue (billion yuan) | Net profit (billion yuan) | R&D investment proportion |
|---|---|---|---|
| 2021 | 7.2 | -2.1 | 35% |
| 2022 | 12.8 | -3.5 | 40% |
| 2023 | 18.6 | -4.2 | 38% |
4. Market prospects and challenges
With the popularity of autonomous driving technology, the size of the lidar market is expected to grow from US$5 billion in 2023 to US$30 billion in 2030. With its technological advantages and customer resources, Hesai Technology is expected to occupy a larger share in this market. However, intensified industry competition, risk of technology iteration and supply chain stability remain the main challenges it faces.
V. Conclusion
Hesai Technology's dual listing provides stronger financial support for its globalization strategy, and also enhances its brand influence. In the future, whether Hesai Technology can continue to lead in fierce market competition will depend on its technological innovation capabilities and commercialization progress. Investors can pay close attention to their subsequent development trends.
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