Hesai Group (HSAI) Responds to Short-Seller Report

Hesai Group (NASDAQ: HSAI) ("Hesai" or the "Company"), the global leader in three-dimensional light detection and ranging (lidar) solutions, today issued the following statement in response to allegations made in a report by Blue Orca Capital.

The Company is aware of the report published by short-seller Blue Orca Capital. The Company strongly disagrees with the allegations in the report and believes that the report is without merit.

The Company reiterates its continued and unwavering commitment to stringent standards of business ethics and regulatory compliance.

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