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Hesai Group reports that a previously approved Share Subdivision has become effective on July 10, 2026, with trading in the Subdivided Class B Ordinary Shares on the Hong Kong Stock Exchange commencing at 9:00 a.m. that day. Existing share certificates remain valid for delivery, trading and settlement only until 4:10 p.m. on August 17, 2026, after which they may still be exchanged as evidence of legal title. The board lot size for Class B Ordinary Shares has changed from 20 existing shares to 100 Subdivided shares, with a temporary counter for 160 Subdivided shares open between July 10 and August 13, 2026. Outstanding awards under the 2021 equity plan have been adjusted: share options increased from 7,717,032 to 61,736,256 Subdivided Class B Ordinary Shares, and RSUs from 2,186,853 to 17,494,824 underlying Subdivided Class B Ordinary Shares, with exercise and purchase prices adjusted accordingly. The company’s auditors have confirmed that these adjustments comply with the 2021 Plan and Hong Kong Listing Rules guidance.
Hesai Group implemented a 1-for-8 subdivision of its issued and unissued Class A and Class B ordinary shares, effective before the commencement of trading on The Stock Exchange of Hong Kong Limited on July 10, 2026. Each ordinary share was subdivided into eight ordinary shares. After this Share Subdivision, authorized share capital is US$100,000, divided into 8,000,000,000 ordinary shares with a par value of US$0.0000125 each, comprising 400,000,000 Class A ordinary shares and 7,600,000,000 Class B ordinary shares. Simultaneously, an ADS Ratio Change became effective so that each American depositary share now represents eight Class B ordinary shares, instead of one previously. Because the ADS ratio change matched the share split, no new ADSs were issued and the total number of outstanding ADSs remains the same.
Hesai Group has set key dates for its 2026 second extraordinary general meeting (EGM). The EGM is proposed for Friday, August 28, 2026, Hong Kong time. The record date to determine which holders of Class A and Class B ordinary shares can attend and vote is the close of business on Thursday, July 23, 2026, Hong Kong time.
Shareholders on the Cayman Islands register must lodge share transfers with the principal registrar by 4:30 p.m. on Wednesday, July 22, 2026, Cayman Islands time, while holders on the Hong Kong register must do so by 4:30 p.m. on Thursday, July 23, 2026, Hong Kong time. Holders of American Depositary Shares (ADSs) as of the close of business on Thursday, July 23, 2026, New York time must give voting instructions to the ADS depositary, Deutsche Bank Trust Company Americas.
Hesai Group reports that shareholders at its annual general meeting approved all resolutions, including routine business matters and several capital management authorities. Shareholders re-elected directors, re-appointed Deloitte as auditor, and granted the board general mandates to issue and repurchase up to 10% of issued shares.
They also approved an eight‑for‑one share subdivision, reducing par value per share while keeping total share capital unchanged. The subdivision, which increases the number of Class A and Class B shares, will take effect on July 10, 2026, subject to Hong Kong Stock Exchange and NASDAQ-related conditions.
Hesai Group reported that on June 12, 2026 it granted 737,054 restricted share unit (RSU) awards, representing the same number of Class B Ordinary Shares, to 302 employees under its 2021 share incentive plan. Most of these RSUs vest over four years, with 688,229 vesting in four equal annual installments and 48,825 vesting semi‑annually in eight equal portions over 48 months. The awards are granted at nil purchase price, with reference prices of HK$143.7 per Class B Ordinary Share on the Stock Exchange and US$18.06 per ADS on NASDAQ. Following these grants, 13,091,280 underlying Class B Ordinary Shares remain available for future awards under the plan limit. The board and compensation committee state that the grants, which carry no performance targets, are intended to retain and incentivize employees and are viewed as fair, reasonable and aligned with shareholders’ interests.
Hesai Group has called an annual general meeting for June 26, 2026 to vote on several corporate proposals, highlighted by an 8‑for‑1 share subdivision of all issued and unissued shares. Each share with par value US$0.0001 would become eight shares with par value US$0.0000125, lifting authorized capital from 1,000,000,000 to 8,000,000,000 subdivided shares while keeping total dollar capital unchanged.
Issued shares would rise from 157,142,211 to 1,257,137,688, with ownership percentages unchanged. The company also proposes changing the Hong Kong board lot from 20 Class B shares to 100 subdivided Class B shares and aligning its ADS ratio so that one ADS will represent eight subdivided Class B shares, which keeps each ADS’s economic interest the same. Shareholders will also vote on director re‑elections, auditor re‑appointment, and renewed 10% mandates to issue and repurchase shares and/or ADSs.
Hesai Group granted 139,120 restricted share unit (RSU) awards, representing the same number of Class B Ordinary Shares, to 37 employees under its 2021 share incentive plan on May 20, 2026. The awards have no purchase price and effectively serve as equity-based compensation.
The RSUs vest in four equal portions over four years from each grantee’s vesting commencement date and are not tied to performance targets. Unvested awards are forfeited or repurchased if employment ends, and vested awards can also be forfeited for termination for cause. After these grants, 13,818,511 Class B Ordinary Shares remain available for future awards under the plan.
Hesai Group reported strong unaudited Q1 2026 results with solid growth and profitability. Net revenues were RMB680.6 million, up 29.6% year-over-year, driven by total lidar shipments of 471,723 units across ADAS and robotics.
The company generated GAAP net income of RMB18.3 million versus a loss a year earlier, and non-GAAP net income of RMB47.7 million. Gross margin was 39.1%. The lidar business produced operating profit of RMB41.9 million, offset by Strategic Growth Initiatives investment losses.
Management highlighted a strategic lidar partnership and confirmed supplier status for Mercedes-Benz L3 autonomy, as well as its evolution from “Spatial Perception” to “Spatial Intelligence” and broader “Physical AI” applications. For Q2 2026, Hesai expects net revenues between RMB850 million and RMB900 million, implying 20%–27% year-over-year growth.