Hesai plans $497 mn Hong Kong listing amid U.S. delisting risks
China's Hesai Group, one of the world's largest lidar maker, seeks to raise $497M via a Hong Kong IPO after facing Pentagon blacklist and U.S. delisting risks. The firm posted Q1 revenue up 50% YoY to $72 mn and cut losses 84%. Cornerstone investors include Hillhouse and Grab. Shares begin trading Sept 16; stock has nearly doubled in 2025.