New Stock Debut | HESAI-W listed for the first time, opening up 7.71% in early trading. The company is the world's largest supplier of lidar
HESAI-W debuted on its first day of trading, opening up 7.71% at HKD 229.2. The share price was set at HKD 212.80, with a total issuance of 19.55 million shares, raising approximately HKD 4.005 billion. HESAI Technology is the world's largest supplier of LiDAR, primarily developing LiDAR sensors that are widely used in the fields of autonomous driving and robotics. The LiDAR industry is expected to grow rapidly, with revenues projected to reach USD 1.6 billion in 2024 and increase to USD 17.3 billion by 2029
According to Zhitong Finance APP, HESAI-W (02525) has officially listed, with the announcement showing a price of HKD 212.80 per share, issuing a total of 19.55 million shares, with each lot consisting of 20 shares. The net proceeds are approximately HKD 4.005 billion. As of the time of writing, the stock has risen by 7.71%, trading at HKD 229.2, with a transaction volume of HKD 214 million.
Public information shows that HESAI Technology was established in 2014, primarily engaged in the research and production of LiDAR sensors, which are widely used to support advanced driver-assistance systems (ADAS) in passenger cars and commercial vehicles, as well as in autonomous vehicles, delivery robots, mobile robots, and various robotic applications. HESAI Technology went public in the U.S. in February 2023, issuing 10 million ADS at an issuance price of USD 19 per ADS, raising USD 190 million, becoming the first Chinese LiDAR company listed in the U.S.
In recent years, the LiDAR industry has rapidly developed against the backdrop of sustained growth in demand for autonomous driving technology, robotics, and related industries. According to data from Zhaoshang Consulting, the global LiDAR industry's revenue increased from USD 300 million in 2020 to USD 1.6 billion in 2024, with a compound annual growth rate (CAGR) of 57.8%, and it is expected to reach USD 17.3 billion by 2029, with a CAGR of 61.7%. Notably, China's LiDAR industry has significantly outpaced other regions in terms of market size and growth rate. Zhaoshang Consulting data indicates that the company was the world's largest LiDAR supplier by revenue in 2022, 2023, and 2024. By December 2024, the company is expected to become the world's first LiDAR company to exceed a monthly shipment of 100,000 units
