Hesai Group’s stock split took effect July 10 after shareholder approval, adjusting its Class B ordinary shares on NASDAQ.
Hesai Group (NASDAQ:HSAI) shareholders approved an 8-for-1 stock split at the company’s annual general meeting on June 26, with the subdivision effective July 10. Trading in the new shares began at 9:00 a.m. the same day, following a regulatory filing confirming the approval of all proposed resolutions.
In May, Citi revised Hesai’s price target downward to $28.60 from $33 while maintaining a Buy rating, citing conservative revenue and profit forecasts amid weaker-than-expected Q2 EV sector shipments. Hesai reported Q1 revenue of $98.7M, up from $72.4M year-over-year, with lidar shipments surging 140.9% to 471,723 units.
The company highlighted its strategic shift toward spatial intelligence and its role as a lidar supplier for Mercedes-Benz models enabling L3 autonomy.