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Xiang Shaoqing reported acquisition or exercise transactions in this Form 4 filing.
Hesai Group director and Chief Technology Officer Xiang Shaoqing received a grant of 157,000 restricted share units. Each unit represents the right to receive one Class B ordinary share when it vests. The award was granted on March 25, 2026 as equity-based compensation.
The 157,000 restricted share units vest in four equal annual installments over a four-year period, beginning on the first anniversary of May 31, 2026, so long as Xiang continues in service through each vesting date. Following this grant, the Form 4 shows 157,000 restricted share units held directly.
Wang Hui (Jasmine) reported acquisition or exercise transactions in this Form 4 filing.
Hesai Group director Wang Hui (Jasmine) received a grant of 6,565 restricted share units on March 25, 2026. Each unit gives the right to one Class B ordinary share when it vests. All 6,565 units are reported as held directly after the grant.
The award vests in three installments, subject to her continued service: 2,188 units on March 25, 2027, 2,188 units on December 24, 2027, and 2,189 units on December 23, 2028. The restricted share units do not have expiration dates.
Li Yifan reported acquisition or exercise transactions in this Form 4 filing.
Hesai Group Chief Executive Officer Li Yifan reported receiving a grant of 157,000 restricted share units. Each unit represents the right to receive one Class B ordinary share when it vests, so this award equates to 157,000 Class B ordinary shares if fully vested.
The grant was made on March 25, 2026 and vests in four equal annual installments over a four-year period, starting on the first anniversary of May 31, 2026, as long as Li Yifan continues in service through each vesting date. Following this grant, he holds 157,000 restricted share units directly.
Sun Kai reported acquisition or exercise transactions in this Form 4 filing.
Hesai Group reported that Chief Scientist and significant shareholder Kai Sun received a grant of 157,000 restricted share units on March 25, 2026. Each unit gives the right to receive one Class B ordinary share upon vesting, so this award ties directly to future equity ownership.
The RSUs vest in four equal annual installments over a four-year period, starting from the first anniversary of May 31, 2026, and require Kai Sun to remain in service through each vesting date. Following this grant, he holds 157,000 RSUs, reflecting a compensation-related equity award rather than any open-market purchase or sale.
Hesai Group reported two main developments. The company granted an aggregate of 785,356 restricted share unit awards, representing the same number of Class B ordinary shares, to four directors and 70 employees under its 2021 equity incentive plan, following approval by independent directors within Hong Kong Listing Rules limits.
Separately, Hesai entered into a Supply of Products Framework Agreement with Sharpa, under which it will supply LiDAR products and robotic actuators from March 25, 2026 to December 31, 2026, with an annual transaction cap of RMB100 million. Sharpa is a connected person as the co-founders collectively hold majority voting rights, so these continuing transactions are subject to reporting, annual review and announcement requirements but are exempt from circular and independent shareholder approval.
Hesai Group reported a strong turnaround for 2025, achieving its first full-year GAAP profitability as a lidar company. Net revenues reached RMB3,027.6 million (US$432.9 million), up 45.8% year-over-year, with lidar shipments tripling to 1,620,406 units.
Full-year net income was RMB435.9 million (US$62.3 million), compared with a net loss of RMB102.4 million in 2024; non-GAAP net income rose to RMB550.5 million (US$78.7 million). Q4 2025 net revenues were RMB1,000.5 million with net income of RMB153.2 million.
Gross margin for 2025 was 41.8%. Cash reserve stood at RMB7,511.0 million (US$1,074.1 million) and shareholders’ equity at RMB8,958.8 million. Hesai guides Q1 2026 net revenues of RMB650–700 million, implying 24%–33% year-over-year growth, and received approximately US$6.4 million from a resolved IP arbitration.
Hesai Group director and Chief Scientist Sun Kai has filed an initial ownership report showing a large indirect equity position in the company. The filing lists indirect ownership of 9,228,622 Class A ordinary shares held through Fermat Star Limited, establishing his reported stake at the time of this Form 3.
Hesai Group director Ren Jia has filed an initial ownership report detailing restricted share units (RSUs). These RSUs give a contingent right to receive Class B ordinary shares when they vest. According to the disclosure, the awards vest in three tranches on November 11, 2026, September 8, 2027, and September 7, 2028, and do not have expiration dates.
Hesai Group Chief Financial Officer Fan Peng filed an initial ownership report outlining existing equity interests in the company. The filing lists restricted share units that give a contingent right to receive Class B ordinary shares, vesting between September 19, 2026 and December 1, 2029 under the issuer's share incentive plan. It also shows options to buy Class B ordinary shares at an exercise price of $0.9000 per share, expiring on November 18, 2031, with portions vesting monthly from April 1, 2026 through January 1, 2029. In addition, Fan Peng holds 48,000 American depositary shares, each representing one Class B ordinary share, and 1,600 Class B ordinary shares directly. The report reflects holdings only and does not show any buy or sell transactions.
Hesai Group director and Chief Executive Officer Li Yifan filed an initial statement of beneficial ownership of the company’s equity securities. The filing reports indirect ownership of 8,879,636 Class A ordinary shares held through ALBJ Limited, reflecting Li’s existing stake rather than a new share purchase or sale.