On February 9th, Beijing time, the LiDAR company "Hesai" successfully listed on NASDAQ with the stock code HSAI, becoming the first LiDAR company from China to go public and the first hard-tech company to list in the US after the finalization of the Chinese concept stock review. ZhenFund participated in Hesai Technology's Series A financing in 2017 and continued to invest in its Series B financing.

Hesai Technology is a global LiDAR R&D and manufacturing company with outstanding R&D capabilities and extensive technical expertise in the core area of LiDAR. As of the end of 2022, its LiDAR products have accumulated a total delivery volume of over 100,000 units, serving global mainstream automobile manufacturers, autonomous driving and robotics companies, and covering more than 40 countries and over 90 cities worldwide.

As an industry leader, Hesai focuses on LiDAR-specific chip R&D and independent production line construction, enabling more applications in advanced driver assistance systems for passenger cars, commercial vehicles, autonomous vehicles, robots, and other scenarios with advanced technology.

"As an early-stage investment institution, we are very pleased to accompany the growth of "Hesai" all the way from the A round of financing. The Hesai team has continued to cultivate and improve in the field of lidar, challenge and break through itself, continue to launch the latest generation of products that the market needs, and gradually grow into a leader in the industry. We have witnessed their development and transformation on the road to entrepreneurship, and we sincerely congratulate them on their achievements!

ZhenFund always adheres to the investment philosophy of "investing in people" and adheres to the "Technology Angel" investment strategy, and makes in-depth deployments in fields such as technological innovation, high-end manufacturing, biomedicine, new consumption, and carbon neutrality at the earliest stage. Today, we have witnessed the rise of "China's first LiDAR stock", congratulate Hesai again on its achievements, and also applaud the determination and courage of Chinese entrepreneurs to develop LiDAR!"

——Yin Le, Investor of Hesai Technology, Partner of ZhenFund