On the first day of trading, the Chinese concept stocks of LiDAR, such as Hesai Technology, rose nearly 8%. They returned to Hong Kong for listing, and companies like Hillhouse and Grab increased their investment

On September 16th, laser radar company Hesai Technology was officially listed on the Hong Kong Stock Exchange, becoming the first Chinese concept stock to return to Hong Kong for listing in the past two years. The Hong Kong stock market also saw the emergence of another leading domestic laser radar company. On the first day of trading, the Hong Kong stock of Hesai Technology opened at HKD 229.2, an increase of 7.7%. During its public offering phase, it received 168.65 times the subscription amount, while during the international placement phase, Hesai Technology received 14.09 times the subscription amount. As of press time, the Hong Kong stock price of Hesai Technology was reported at HKD 238, with a stock price increase of 11.84%. Hesai Technology plans to globally issue 17 million shares of the company's Class B common stock. If calculated based on the issue price of HKD 228 per share, the expected total fundraising amount is HKD 3.876 billion, and the net fundraising amount is HKD 3.706 billion. Hesai Technology has introduced 6 cornerstone investors in this issuance, with a cumulative subscription amount of $148 million. Among them, the existing shareholder Hillhouse has the highest subscription amount, reaching 50 million US dollars; WT Asset Management subscribed for $30 million; Taikang Life Insurance and Hongda Group subscribed for 28 million US dollars and 20 million US dollars respectively; Grab and Kangman Capital each contributed $10 million to participate in the subscription.