FORM 2 - Corporate Substantial Shareholder Notice
Form Serial Number
:
CS20260716E00737
1.
Date of relevant event
:
13/07/2026
(dd/mm/yyyy)
2.
Date when the substantial shareholder becomes aware of the relevant event / interest in the shares (if later)
:
15/07/2026
(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
:
1,041,146,800
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
1013
You first acquire a notifiable interest because:
any other event (you must briefly describe the relevant event in the Supplementary Information box)
2201
Interest of corporation controlled by you
2201
Interest of corporation controlled by you
23,471,082
HKD
15.7081
15.7081
16.1000
3101
Cash
Short position
1403
You 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:
any other event (you must briefly describe the relevant event in the Supplementary Information box)
2201
Interest of corporation controlled by you
2201
Interest of corporation controlled by you
6,743,571
18.
Total shares immediately before the relevant event
:
Total number of shares
Percentage figure (%)
Long position
47,096,647
4.51
Short position
28,558,229
2.73
Lending Pool
13,238,233
1.26
19.
Total shares immediately after the relevant event
:
Total number of shares
Percentage figure (%)
Long position
70,567,729
6.76
Short position
35,301,800
3.38
Lending Pool
21,103,882
2.02
20.
Capacity in which interests disclosed in Box 19 are held
:
Capacity code
Number of shares
2101
Beneficial owner
Long position
34,317,879
Short position
35,265,392
2102
Investment manager
Long position
6,981,688
Short position
36,408
2106
Person having a security interest in shares
Long position
8,164,280
Short position
0
2502
Approved lending agent
Long position
21,103,882
Short position
0
21.
Further information in respect of derivative interests
:
Derivatives code
Number of shares
4102
Listed derivatives - Cash settled
Long position
0
Short position
47,040
4105
Unlisted derivatives - Physically settled
Long position
2,945,949
Short position
5,993,275
4106
Unlisted derivatives - Cash settled
Long position
4,773,306
Short position
4,178,181
22.
Further information in relation to interests of corporations controlled by substantial shareholder
:
Name of controlled corporation
Address and place of incorporation
Name of controlling person
% control
Direct interest (Y/N)
Number of shares
J.P. Morgan SE
TaunusTurm Taunustor 1 Frankfurt am Main Frankfurt 60310 Germany
J.P. Morgan International Finance Limited
100.00
Y
Long position
1,144
Short position
0
J.P. Morgan Securities LLC
270 Park Avenue New York NY 10017 United States
J.P. Morgan Broker-Dealer Holdings Inc.
100.00
Y
Long position
27,280,040
Short position
18,645,960
J.P. Morgan Investment Management Inc.
270 Park Avenue New York NY 10017 United States
JPMorgan Asset Management Holdings Inc.
100.00
Y
Long position
6,750,720
Short position
0
J.P. Morgan Prime Inc.
270 Park Avenue New York NY 10017 United States
J.P. Morgan Securities LLC
100.00
Y
Long position
63,608
Short position
63,608
JPMorgan Chase Bank, National Association
1111 Polaris Parkway Columbus OH 43240 United States
JPMorgan Chase & Co.
100.00
Y
Long position
21,333,706
Short position
0
J.P. Morgan Alternative Asset Management, Inc.
270 Park Avenue New York NY 10017 United States
JPMorgan Asset Management Holdings Inc.
100.00
Y
Long position
0
Short position
36,408
J.P. MORGAN SECURITIES PLC
25 Bank Street Canary Wharf London E14 5JP England
J.P. MORGAN CAPITAL HOLDINGS LIMITED
100.00
Y
Long position
15,138,511
Short position
16,555,824
J.P. Morgan International Finance Limited
270 Park Avenue New York NY 10017 United States
JPMorgan Chase Bank, National Association
100.00
N
Long position
15,139,655
Short position
16,555,824
JPMorgan Chase Bank, National Association
1111 Polaris Parkway Columbus OH 43240 United States
JPMorgan Chase & Co.
100.00
N
Long position
15,139,655
Short position
16,555,824
J.P. Morgan Broker-Dealer Holdings Inc.
4 Chase Metrotech Center 4th Floor Brooklyn NY 11245 United States
JPMorgan Chase Holdings LLC
100.00
N
Long position
27,343,648
Short position
18,709,568
JPMorgan Chase Holdings LLC
270 Park Avenue New York NY 10017 United States
JPMorgan Chase & Co.
100.00
N
Long position
34,094,368
Short position
18,745,976
JPMorgan Asset Management Holdings Inc.
270 Park Avenue New York NY 10017 United States
JPMorgan Chase Holdings LLC
100.00
N
Long position
6,750,720
Short position
36,408
J.P. Morgan Securities LLC
270 Park Avenue New York NY 10017 United States
J.P. Morgan Broker-Dealer Holdings Inc.
100.00
N
Long position
63,608
Short position
63,608
J.P. MORGAN CAPITAL HOLDINGS LIMITED
25 Bank Street Canary Wharf London E14 5JP England
J.P. Morgan International Finance Limited
100.00
N
Long position
15,138,511
Short position
16,555,824
23.
Further information in relation to interests held by substantial shareholder jointly with another person
:
Name of joint shareholder
Address
Number of shares
24.
Further information from a trustee, a beneficiary of a trust, or a person who set up a discretionary trust
:
Names of trust
Address
Status code
Number of shares
25.
Further information from a party to an agreement under Section 317 (Please see Notes for further information required)
:
Names of other parties
Address
Number 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
:
Names
Address
Relationship Code
Percentage (%)
27.
Supplementary information
:
JP Morgan Chase & Co. acquire a notifiable interest because the percentage level of our interest in the shares held in our lending pool is taken to have increased.JP Morgan Chase & Co. 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.As of date of relevant event, HESAI GROUP issued share capital 1041146800 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
:
16/07/2026
(dd/mm/yyyy)