NEW YORK and SHANGHAI, Feb. 10, 2023 /PRNewswire/ -- Hesai Technology ("Hesai"), the portfolio company of Huatai International Private Equity Fund ("HTPE"), successfully debuts on the Nasdaq on February 9 Beijing time, becoming the first Chinese LiDAR company listed on the US stock exchanges. This also marks HTPE's first IPO in 2023.

Hesai (NASDAQ: HSAI) raised approximately $190 million through the offering of 10,000,000 American depository shares (ADS) at a price of $19/ADS under the ticker "HSAI".

HTPE participated in Hesai's over $300 million Series D round back in June 2021. As the Greater China focused private equity investment platform under Huatai Securities, HTPE is dedicated to support the innovative progress in technology upgrade with an investment philosophy of "Deep Industrial Empowerment", and helps Hesai achieve high-quality value-add for its shareholders, industry and society.

Founded in 2014, Hesai is the global leader in LiDAR for autonomous driving and ADAS. The Company's LiDAR products enable a broad spectrum of applications across passenger and commercial vehicles with ADAS and autonomous vehicle fleets. Its technology also empowers robotics applications such as last-mile delivery robots and logistics robots in restricted areas. As of December 31, 2022, Hesai has shipped over 100,000 LiDAR units in total. Its commercially validated solutions are backed by superior research and development capabilities across optics, mechanics, electronics, and software. Hesai integrates LiDAR designs with an in-house manufacturing process, facilitating rapid product development while ensuring high performance, consistent quality and affordability.

"HTPE is delighted to witness Hesai's listing on Nasdaq," said Yang Lei, Managing Partner of HTPE. "It is not only a new milestone and beginning of Hesai, but also a remarkable footstep for all Chinese companies that plan to list in the US stock exchanges after PCAOB audit breakthrough last December.

We believe that ADAS and autonomous driving technology will be one of the main drivers of the technology progress in the next decade, and LiDAR as a core element in this value chain will enjoy great growth opportunities. As a leading player in the global LiDAR market, Hesai is well-positioned to keep pioneering in the intelligent and autonomous driving industry backed by its exciting technologies and products. HTPE looks forward to empowering the future of China's technology development and will continue to support the long-term development of our portfolio companies across global capital markets."

About Hesai Technology

Founded in 2014, Hesai is a global leader in Lidar technology for autonomous driving and ADAS (advanced driver assistance systems). Its vision is to empower robotics and elevate lives through high-performance, reliable, and low-cost 3D sensors. Hesai has developed exceptional R&D capabilities, accumulating deep expertise in optics, mechanics, electronics, and software, in areas of proprietary Lidar chips, functional safety, and interference rejection. Hesai has won customers spanning over 90 cities in 40 countries, including leading autonomous driving developers, OEMs, Tier 1 suppliers, and robotics companies.

About Huatai International Private Equity Fund

Huatai International Private Equity Fund ("HTPE") is a USD private equity fund under Huatai Securities, one of China's largest financial conglomerates. HTPE is focused on mid-to late-stage significant minority growth equity and mid-market buyout investment opportunities in China and beyond, covering healthcare, semiconductor, hard tech, TMT, and consumer sector. The core investment team is comprised of investment veterans with more than ten years of experience in private equity and capital markets. Leveraging on Huatai's solid platforms and networks in China and worldwide, HTPE utilizes a unique multi-pronged strategy and integrates its global best practice, broad know-how, deep industry understanding, as well as comprehensive local expertise and experience to capture high growth potential across a variety of sectors, to identify and work with top-notch companies with promising capabilities at different stages.

Email: htpeir@htsc.com