FORM 2 - Corporate Substantial Shareholder Notice
 
Form Serial Number: CS20260625E00484 
1. Date of relevant event: 22/06/2026
(dd/mm/yyyy)
2. Date when the substantial shareholder becomes aware of the relevant event / interest in the shares (if later): 24/06/2026
(dd/mm/yyyy)
3. Stock code: 02525
4. Name of listed corporation: Hesai Group - W 
5. Class of shares: Others 
6. Number of issued shares in class: 130,143,350
7. Name of substantial shareholder: JPMorgan Chase & Co. 
8. Registered office: 270 Park Avenue, New York, New York, NY, 10017, United States
9. Principal place of business in Hong Kong: N/A 
15. Exchange on which listed: New York Stock Exchange
16. Name of listed parent and exchange on which parent is listed: N/A 
17. Details of relevant event:
  Brief description of relevant event Capacity in which shares were/are held Number of shares bought/sold or involved Currency of transaction On Exchange Off Exchange
Before relevant event After relevant event Highest price (per share) Average price (per share) Average consideration (per share) Nature of consideration
Long position
Short position 
1402You came to have a short position of 1% or more in the shares, or the percentage level of your short position in such shares increased because:
you borrowed the shares under a securities borrowing and lending agreement
 
2201Interest of corporation controlled by you
 
2201Interest of corporation controlled by you
 		 379,000           
18. Total shares immediately before the relevant event:
 Total number of sharesPercentage figure (%)
Long position8,065,4076.19
Short position3,569,7962.74
Lending Pool2,496,7341.91
19. Total shares immediately after the relevant event:
 Total number of sharesPercentage figure (%)
Long position8,341,2816.40
Short position3,948,7963.03
Lending Pool2,496,7341.91
20. Capacity in which interests disclosed in Box 19 are held:
Capacity codeNumber of shares
2101Beneficial owner
Long position4,021,765
Short position3,947,779
2102Investment manager
Long position755,157
Short position1,017
2106Person having a security interest in shares
Long position1,064,100
Short position0
2301Trustee
Long position3,525
Short position0
2502Approved lending agent
Long position2,496,734
Short position0

21. Further information in respect of derivative interests:
Derivatives codeNumber of shares
4102Listed derivatives - Cash settled
Long position0
Short position4,680
4105Unlisted derivatives - Physically settled
Long position254,961
Short position524,130
4106Unlisted derivatives - Cash settled
Long position514,303
Short position523,619
22. Further information in relation to interests of corporations controlled by substantial shareholder:
Name of controlled corporationAddress and place of incorporationName of controlling person% controlDirect interest (Y/N)Number of shares
J.P. Morgan SETaunusTurm Taunustor 1 Frankfurt am Main Frankfurt 60310 GermanyJ.P. Morgan International Finance Limited100.00Y
Long position3,487
Short position0
J.P. Morgan Securities LLC270 Park Avenue New York NY 10017 United StatesJ.P. Morgan Broker-Dealer Holdings Inc.100.00Y
Long position3,523,296
Short position2,399,149
J.P. Morgan Investment Management Inc.270 Park Avenue New York NY 10017 United StatesJPMorgan Asset Management Holdings Inc.100.00Y
Long position722,745
Short position0
JPMorgan Chase Bank, National Association1111 Polaris Parkway Columbus OH 43240 United StatesJPMorgan Chase & Co.100.00Y
Long position2,529,184
Short position0
J.P. Morgan Alternative Asset Management, Inc.270 Park Avenue New York NY 10017 United StatesJPMorgan Asset Management Holdings Inc.100.00Y
Long position0
Short position1,017
J.P. MORGAN SECURITIES PLC25 Bank Street Canary Wharf London E14 5JP EnglandJ.P. MORGAN CAPITAL HOLDINGS LIMITED100.00Y
Long position1,562,569
Short position1,548,630
J.P. Morgan International Finance Limited270 Park Avenue New York NY 10017 United StatesJPMorgan Chase Bank, National Association100.00N
Long position1,566,056
Short position1,548,630
JPMorgan Chase Bank, National Association1111 Polaris Parkway Columbus OH 43240 United StatesJPMorgan Chase & Co.100.00N
Long position1,566,056
Short position1,548,630
J.P. Morgan Broker-Dealer Holdings Inc.4 Chase Metrotech Center 4th Floor Brooklyn NY 11245 United StatesJPMorgan Chase Holdings LLC100.00N
Long position3,523,296
Short position2,399,149
JPMorgan Chase Holdings LLC270 Park Avenue New York NY 10017 United StatesJPMorgan Chase & Co.100.00N
Long position4,246,041
Short position2,400,166
JPMorgan Asset Management Holdings Inc.270 Park Avenue New York NY 10017 United StatesJPMorgan Chase Holdings LLC100.00N
Long position722,745
Short position1,017
J.P. MORGAN CAPITAL HOLDINGS LIMITED25 Bank Street Canary Wharf London E14 5JP EnglandJ.P. Morgan International Finance Limited100.00N
Long position1,562,569
Short position1,548,630

23. Further information in relation to interests held by substantial shareholder jointly with another person:
Name of joint shareholderAddressNumber of shares
 
24. Further information from a trustee, a beneficiary of a trust, or a person who set up a discretionary trust:
Names of trustAddressStatus codeNumber of shares
N.AAddresses of individuals are not displayed.
5101Trustee of a trust
Long position3,525
Short position0
25. Further information from a party to an agreement under Section 317 (Please see Notes for further information required):
Names of other partiesAddressNumber of shares
 
Total number of shares in which a substantial shareholder is interested under sections 317 and 318
26. Details of person(s) in accordance with whose directions the substantial shareholder or its directors are accustomed to act:
NamesAddressRelationship CodePercentage (%)
  
 
27. Supplementary information: As of date of relevant event, HESAI GROUP issued share capital 130143350 of class B shares.
28. Log/Serial Number of the previous form:
29. Number of concert party document(s) under section 317 attached/uploaded:
Date of filing this Form 2: 25/06/2026
(dd/mm/yyyy)