HSAI · Hesai Group

This 6-K filing reports routine monthly share capital and equity compensation activity for Hesai Group as of April 30, 2026, with no earnings, financing, acquisition, or governance events. The key operational facts are the settlement of 24,794 exercised stock options and 32,061 vested RSUs — both using Class B ordinary shares already held by the Hong Kong Depositary, meaning no new shares were issued to the capital register and no incremental dilution occurred. This reflects a common practice for foreign private issuers listed in Hong Kong to satisfy equity awards via depositary-held shares rather than new issuances, preserving authorized share capacity. The confirmation of public float compliance (15% threshold met for Class B shares) is procedural but critical for maintaining HKEX listing status. Notably, zero new options or RSUs were granted during the month, suggesting a deliberate pause in equity award deployment — potentially aligned with vesting schedules, regulatory review cycles, or internal governance timing. The unchanged Class A share count and continued non-listing reinforce the structural separation between voting control (retained by founders via Class A) and public liquidity (via Class B on HKEX). While not material in isolation, this disclosure provides transparency into equity management discipline and capital structure stability ahead of the June 2026 AGM.