Hesai Group 2026 Second Extraordinary General Meeting and Continuing Connected Transactions

Hesai Group announced it will hold its 2026 Second Extraordinary General Meeting on August 28, 2026, to consider proposed resolutions. The company also announced a revision to its Continuing Connected Transactions with Sharpa, specifically amending the annual cap under the Revised Supply of Products Framework Agreement. The agreement, initially entered into on March 25, 2026, involves Hesai supplying LiDAR products and robotic actuators to Sharpa. Due to significant growth in sales volume and anticipated exceeding of the original annual cap, a revised agreement was entered into on July 31, 2026. The revised annual cap for the year ending December 31, 2026, has been increased from RMB 100 million to RMB 300 million. This revision is based on factors including accelerated commercialization of Sharpa's products, an unforeseen surge in customer demand, and adjustments to pricing terms for robotic actuators and manufacturing services to reflect increased R&D contributions and updated market benchmarks. The transactions are subject to reporting, annual review, announcement, and independent shareholder approval requirements under the Listing Rules.