Hesai Group to Hold Extraordinary General Meeting on March 3, 2026
Rhea-AI Summary
Hesai Group (NASDAQ: HSAI) announced an Extraordinary General Meeting (EGM) for shareholders on March 3, 2026 at 3:00 p.m. Beijing time at No.28 Ciyun Road, Yancheng Lake Peninsula, Suzhou Industrial Park, Jiangsu Province, China.
The EGM will consider the Proposed Resolutions described in the EGM notice; the board recommends shareholders and ADS holders vote in favor. Class A and Class B ordinary share meetings will be held the same day (Class A at 1:30 p.m. Beijing time; Class B at 2:00 p.m. Beijing time). Notices, circular and proxy forms are available at the company investor website. Record date for ordinary shares and ADS voting is close of business on February 2, 2026 (Hong Kong time for ordinary shares; New York time for ADSs). ADS holders must provide voting instructions to Deutsche Bank Trust Company Americas to exercise underlying Class B voting rights.
Positive
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Negative
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News Market Reaction – HSAI
On the day this news was published, HSAI declined 10.06%, reflecting a significant negative market reaction. Argus tracked a peak move of +3.3% during that session. Argus tracked a trough of -2.7% from its starting point during tracking. Our momentum scanner triggered 51 alerts that day, indicating high trading interest and price volatility. This price movement removed approximately $461M from the company's valuation, bringing the market cap to $4.12B at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
HSAI was down 2.27% while peers showed mixed moves: VC -1.0%, ATMU -1.74%, GTX -2.22%, but AAP and DAN were slightly positive. This pattern points to stock-specific trading rather than a uniform Auto Parts sector move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 06 | Strategic partnership | Positive | +10.5% | Selected by NVIDIA as lidar partner for DRIVE Hyperion 10 platform. |
| Jan 05 | Product partnership | Positive | +0.7% | Partnership with MOVIN using JT128 lidar in TRACIN 3D device. |
| Jan 05 | Capacity expansion | Positive | +0.7% | Plan to double annual lidar production capacity starting in 2026. |
| Dec 23 | Customer win | Positive | -0.8% | Supplying solid-state lidars for Meituan’s Keeta Drone delivery fleet. |
| Dec 15 | Industry recognition | Positive | +2.0% | Named only lidar firm on Morgan Stanley’s “Humanoid Tech 25” list. |
Recent positive partnership and recognition news has typically seen aligned positive price reactions, with one notable divergence on a favorable drone partnership update.
Over the past months, Hesai reported several growth-oriented milestones. On Dec 15, 2025, it was named the only lidar firm on Morgan Stanley’s “Humanoid Tech 25,” after surpassing 2 million lidar deliveries. Late December brought a lidar supply deal for Meituan’s Keeta Drone fleet, targeting large-scale 2026 deployment. Early January 2026 news highlighted doubling annual lidar capacity from 2 million to over 4 million units and a new NVIDIA DRIVE Hyperion 10 partnership, which saw a 10.47% price gain. Today’s EGM notice fits into ongoing corporate and strategic scaling activity.
Market Pulse Summary
The stock dropped -10.1% in the session following this news. A negative reaction despite neutral or procedural news, such as an EGM notice, would fit a pattern where share price does not always track the apparent positivity of operational updates. The Meituan drone partnership coincided with a -0.75% move even as it expanded commercial use cases. In such cases, broader market sentiment, positioning around prior gains near the 52-week high of 30.85, or profit-taking after strong runs can outweigh the direct content of the announcement.
Key Terms
form of proxy regulatory
record date regulatory
depositary financial
AI-generated analysis. Not financial advice.
SHANGHAI, China, Jan. 26, 2026 (GLOBE NEWSWIRE) -- Hesai Group (“Hesai” or the “Company”) (NASDAQ: HSAI; HKEX: 2525), the global leader in three-dimensional light detection and ranging (lidar) solutions, today announced that it will hold an extraordinary general meeting of the Company’s shareholders (the “EGM”) at 3:00 p.m. Beijing time (or shortly after the conclusion or adjournment of the Class A Meeting which will commence at 1:30 p.m. (Beijing time) and the Class B Meeting which will commence at 2:00 p.m. (Beijing time), or shortly after the Class A Meeting is concluded, both of which are defined below) on Tuesday, March 3, 2026 at No.28 Ciyun Road, Yancheng Lake Peninsula, Weiting Town, Suzhou Industrial Park, Jiangsu Province, People’s Republic of China, for the purposes of considering and, if thought fit, passing with or without amendments, each of the Proposed Resolutions as defined and set forth in the notice of the EGM (the “EGM Notice”). The EGM Notice and the form of proxy for the EGM are available on the Company’s website at https://investor.hesaitech.com/. The board of directors of the Company fully supports the Proposed Resolutions and recommends that shareholders and holders of American depositary shares (“ADSs”) vote in favor of the Proposed Resolutions.
The Company will hold a class meeting of holders of Class A ordinary shares with a par value of US
Holders of record of the Company’s ordinary shares as of the close of business on February 2, 2026, Hong Kong time, are entitled to receive notice of, and to attend and vote at, the EGM or any adjourned meeting thereof. Holders of record of ADSs as of the close of business on February 2, 2026, New York time, who wish to exercise their voting rights for the underlying Class B ordinary shares must give voting instructions to Deutsche Bank Trust Company Americas, the depositary of the ADSs.
About Hesai
Hesai Technology (Nasdaq: HSAI; HKEX: 2525) is a global leader in lidar solutions. The Company’s lidar products enable a broad spectrum of applications including passenger and commercial vehicles (“ADAS”), as well as autonomous driving vehicles and robotics and other non-automotive applications such as last-mile delivery robots and AGVs (“Robotics”). Hesai seamlessly integrates its in-house manufacturing process with lidar R&D and design, enabling rapid product iteration while ensuring high performance, high quality and affordability. The Company’s commercially validated solutions are backed by superior R&D capabilities across optics, mechanics, and electronics. Hesai has established offices in Shanghai, Palo Alto and Stuttgart, with customers spanning more than 40 countries.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue” or other similar expressions. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
Hesai Group
Capital Markets Department
Email: ir@hesaitech.com
Christensen Advisory
Tel: +86-10-5900-1548
Email: hesai@christensencomms.com
Source: Hesai Group
FAQ
When and where will Hesai Group (HSAI) hold its Extraordinary General Meeting (EGM)?
What class meetings will Hesai (HSAI) hold on March 3, 2026 and at what times?
What is the record date for Hesai (HSAI) shareholders and ADS holders to vote at the March 3, 2026 meetings?
Where can Hesai (HSAI) shareholders find the EGM notice, circular and proxy forms?
How do ADS holders of Hesai (HSAI) exercise voting rights for underlying Class B shares?
