Chinese lidar developer Hesai files for $100 million US IPO

Chinese lidar startup Hesai filed for a $100 million US preliminary public providing on Tuesday, turning into one of many first Chinese corporations to hunt a US itemizing this 12 months. The Shanghai-based firm makes lidar sensors for autonomous driving automobiles and robotics purposes and has clients in 40 nations. Documents present that Hesai’s complete income has grown quickly over the previous three years, whereas its internet loss widened year-on-year between 2019 and 2021. In the primary three quarters of 2022, Hesai posted revenues of RMB 793 million ($117 million), exceeding full-year 2021 figures, whereas internet loss narrowed by 6% throughout the interval. Hesai filed for an IPO on the Shanghai Star market in 2021 to lift RMB 2 billion. However, the corporate withdrew the applying two months later, and Hesai has not commented on the explanations for the delisting. [Hesai SEC filing]