HESAI-W (02525) has announced that its board of directors proposes to split each issued and unissued share with a par value of USD 0.0001 into eight split shares, each with a par value of USD 0.0000125. In connection with the stock split, the board has approved a change in the American Depositary Share (ADS) ratio. The new ratio will be one ADS representing eight split Class B ordinary shares, replacing the current ratio of one ADS representing one Class B ordinary share. The change in the ADS ratio is contingent upon the stock split taking effect. Both the ADS ratio change and the stock split, if approved, are scheduled to become effective on the same day. Holders of the company's ADSs are not required to take any action regarding the ADS ratio change, except for voting to approve the stock split proposal at the annual general meeting. Currently, Class B ordinary shares are traded on the Hong Kong Stock Exchange in board lots of 20 shares. The board proposes that, upon the effectiveness of the stock split, the board lot size will be changed from 20 Class B ordinary shares to 100 split Class B ordinary shares. This modification will not affect any relevant rights of shareholders. A temporary trading counter will be open from 9:00 a.m. on July 10, 2026, to 9:00 a.m. on August 13, 2026, allowing trading in a temporary board lot size of 160 split Class B ordinary shares (in the form of existing shares).