Hesai Group Shares Fall After Short-Seller Report Alleges Ties to Chinese Military

MT Newswires Live

2025/03/18

Hesai Group (HSAI) shares fell by more than 8% on Tuesday after a report from short-seller Blue Orca Capital alleged that its LiDAR technology is being used in Chinese military vehicles.

The report alleges that the company is misleading the US government regarding its involvement with the Chinese military and investors about the authenticity of its financial statements.

Blue Orca alleged that company's recent profitability is misleading as it stemmed from a one-time $20 million "break fee" payment from its largest customer, who secretly terminated its contract.

Hesai did not immediately respond to MT Newswires' request for comment.

Price: 20.65, Change: -1.65, Percent Change: -7.42

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