![]() ![]() This structure involves unique risks to investors. Hesai Group is not a Chinese operating company, but a Cayman Islands holding company with operations mainly conducted by its subsidiaries based in mainland China, and to a lesser extent by its subsidiaries based in the United States and elsewhere. Our principal shareholders, ALBJ Limited, Fermat Star Limited, Galbadia Limited, Lightspeed Opportunity, Lightspeed China Partners, Baidu Holdings, Bosch, Xiaomi and Yuanzhan, will beneficially own 7.9%, 8.2%, 7.9%, 7.9%, 7.1%, 6.0%, 5.8%, 5.5% and 5.2% of our total ordinary shares on an as-converted basis and 25.1%, 25.9%, 25.1%, 2.6%, 2.4%, 2.0%, 1.9%, 1.8% and 1.7% of the aggregated voting power, respectively, and, as a group, will beneficially own 61.5% of our total ordinary shares on an as-converted basis and 88.4% of the aggregated voting power. Jie Chen, will beneficially own 7.9%, 8.2%, 7.9%, 1.1%, less than 1%, nil and nil of our total ordinary shares on an as-converted basis and 25.1%, 25.9%, 25.1%, 0.3%, less than 1%, nil and nil of the aggregated voting power, respectively, and, as a group, will beneficially own 25.1% of our total ordinary shares on an as-converted basis and 76.2% of the aggregated voting power. See “Description of Share Capital.” Following the completion of this offering, assuming that the underwriters do not exercise their option to purchase additional ADSs, our executive officers and directors, Dr. Yifan Li, Dr. Kai Sun, Mr. Shaoqing Xiang, Mr. Louis T. Class B ordinary shares are not convertible into Class A ordinary shares under any circumstances. Each Class A ordinary share is entitled to ten votes and is convertible into one Class B ordinary share, and each Class B ordinary share is entitled to one vote. Holders of Class A ordinary shares and Class B ordinary shares have the same rights except for voting and conversion rights. ![]() ![]() Following the completion of this offering, our issued and outstanding share capital will consist of Class A ordinary shares and Class B ordinary shares. ![]()
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