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.
Hesai Group has scheduled its 2026 annual general meeting (AGM) for Friday, June 26, 2026, Hong Kong time. The company set May 22, 2026, Hong Kong time as the record date to determine which holders of Class A and Class B ordinary shares may attend and vote.
Shareholders on the Cayman Islands register must lodge share transfers by 4:30 p.m. on May 21, 2026, Cayman time, while holders on the Hong Kong register must do so by 4:30 p.m. on May 22, 2026, Hong Kong time. Holders of American Depositary Shares (ADSs), each representing one Class B ordinary share, must be ADS holders as of the close of business on May 22, 2026, New York time and give voting instructions to Deutsche Bank Trust Company Americas. ADS holders who cancel ADSs on that date will not be eligible to vote the underlying shares at the AGM.
FMR LLC filed an Amendment No. 3 to Schedule 13G/A reporting beneficial ownership of 5,453,873.54 shares of HESAI GROUP Class B common stock, representing 4.2% of that class. The filing lists sole voting power of 5,397,338.72 shares and sole dispositive power of 5,453,873.54 shares. The cover shows CUSIP G4417G106 and a related date of 03/31/2026, and signatures dated 05/05/2026. The filing states certain other persons may have rights to dividends or proceeds, but no other person holds more than 5% of the Class B shares.
Hesai Group has scheduled a board meeting for May 19, 2026 to review and approve the unaudited quarterly results of the company and its subsidiaries for the three months ended March 31, 2026, and to approve their publication.
On the same day, management will host a first quarter 2026 earnings conference call at 8:00 A.M. U.S. Eastern Time / 8:00 P.M. Beijing/Hong Kong Time. Investors can participate via a pre-registration phone link or follow a live and archived webcast on the company’s investor relations website.