SCHEDULE 13G/A 0001104659-24-022647 0001676552 XXXXXXXX LIVE 1 Class B ordinary shares, US$0.0001 par value per share 09/30/2025 0001861737 Hesai Group 428050108 10th Floor, Building A No. 658 Zhaohua Road, Changning District Shanghai F4 200050 Rule 13d-1(d) Lightspeed China Partners III, L.P. E9 0.00 3234448.00 0.00 3234448.00 3234448.00 N 2.1 PN Row 6, 8 and 9: Represents (i) 1,600,000 Class B ordinary shares directly held by Lightspeed China Partners III, L.P., and (ii) 1,634,448 ADSs, each representing one Class B ordinary share, owned by Lightspeed China Partners III, L.P. Row 11: Based on a total of 156,142,211 ordinary shares (consisting of 26,998,861 Class A ordinary shares and 129,143,350 Class B ordinary shares) issued and outstanding as of September 30, 2025. Lightspeed China Partners Select I, L.P. E9 0.00 1751282.00 0.00 1751282.00 1751282.00 N 1.1 PN Row 6, 8 and 9: Represents (i) 880,000 Class B ordinary shares directly held by Lightspeed China Partners Select I L.P., and (ii) 871,282 ADSs, each representing one Class B ordinary share, owned by Lightspeed China Partners Select I L.P. Row 11: Based on a total of 156,142,211 ordinary shares (consisting of 26,998,861 Class A ordinary shares and 129,143,350 Class B ordinary shares) issued and outstanding as of September 30, 2025. Guangyi HS Holding Limited D8 0.00 171795.00 0.00 171795.00 171795.00 N 0.1 OO Row 6, 8 and 9: Represents 171,795 Class B ordinary shares directly held by Guangyi HS Holding Limited. Row 11: Based on a total of 156,142,211 ordinary shares (consisting of 26,998,861 Class A ordinary shares and 129,143,350 Class B ordinary shares) issued and outstanding as of September 30, 2025. Lightspeed China Partners III GP, LLC E9 0.00 3234448.00 0.00 3234448.00 3234448.00 N 2.1 OO Row 6, 8 and 9: Represents 3,234,448 Class B ordinary shares indirectly owned by Lightspeed China Partners III GP, LLC. Lightspeed China Partners III GP, LLC is the general partner of Lightspeed China Partners III, L.P., which owned 3,234,448 Class B ordinary shares as of September 30, 2025. Row 11: Based on a total of 156,142,211 ordinary shares (consisting of 26,998,861 Class A ordinary shares and 129,143,350 Class B ordinary shares) issued and outstanding as of September 30, 2025. Lightspeed China Partners Select I GP, LLC E9 0.00 1751282.00 0.00 1751282.00 1751282.00 N 1.1 OO Row 6, 8 and 9: Represents 1,751,282 Class B ordinary shares indirectly owned by Lightspeed China Partners Select I GP, LLC. Lightspeed China Partners Select I GP, LLC is the general partner of Lightspeed China Partners Select I, L.P., which owned 1,751,282 Class B ordinary shares as of September 30, 2025. Row 11: Based on a total of 156,142,211 ordinary shares (consisting of 26,998,861 Class A ordinary shares and 129,143,350 Class B ordinary shares) issued and outstanding as of September 30, 2025. James Qun Mi X1 0.00 2492865.00 0.00 2492865.00 2492865.00 N 1.6 IN Row 6, 8 and 9: Represents (i) 1,617,224 Class B ordinary shares indirectly owned by James Qun Mi through Lightspeed China Partners III, L.P., and (ii) 875,641 Class B ordinary shares indirectly owned by James Qun Mi through Lightspeed China Partners Select I, L.P. Lightspeed China Partners III, L.P. and Lightspeed China Partners Select I, L.P. owned 3,234,448 and 1,751,282 Class B ordinary shares as of September 30, 2025. Lightspeed China Partners III GP, LLC is the general partner of Lightspeed China Partners III, L.P., and Lightspeed China Partners Select I GP, LLC is the general partner of Lightspeed China Partners Select I, L.P. James Qun Mi has 50% voting power of each of Lightspeed China Partners III GP, LLC and Lightspeed China Partners Select I GP, LLC. Row 11: Based on a total of 156,142,211 ordinary shares (consisting of 26,998,861 Class A ordinary shares and 129,143,350 Class B ordinary shares) issued and outstanding as of September 30, 2025. Aibao Chai F4 0.00 85897.50 0.00 85897.50 85897.50 N 0.1 IN Row 6, 8 and 9: Represents 85,897.5 Class B ordinary shares indirectly owned by Aibao Chai through Guangyi HS Holding Limited. Guangyi HS Holding Limited owned 171,795 Class B ordinary shares as of September 30, 2025. Aibao Chai holds 50% controlling power of Guangyi HS Holding Limited. Row 11: Based on a total of 156,142,211 ordinary shares (consisting of 26,998,861 Class A ordinary shares and 129,143,350 Class B ordinary shares) issued and outstanding as of September 30, 2025. Hesai Group 10th Floor, Building A No. 658 Zhaohua Road, Changning District Shanghai, F4, 200050 Lightspeed China Partners III, L.P. Lightspeed China Partners Select I, L.P. Guangyi HS Holding Limited Lightspeed China Partners III GP, LLC Lightspeed China Partners Select I GP, LLC James Qun Mi Aibao Chai (Collectively, the "Reporting Persons") The general partner of Lightspeed China Partners III, L.P. is Lightspeed China Partners III GP, LLC. The general partner of Lightspeed China Partners Select I, L.P. is Lightspeed China Partners Select I GP, LLC. James Qun Mi has 50% of the voting power of each of Lightspeed China Partners III GP, LLC and Lightspeed China Partners Select I GP, LLC. Aibao Chai holds 50% of the controlling power of Guangyi HS Holding Limited. This Amendment No. 1 (this "Amendment") amends, in its entirety, the statement on Schedule 13G originally filed on February 14, 2024 by the Reporting Persons. This Amendment is being filed to disclose that the Reporting Persons have ceased to be the beneficial owners of more than five percent of the outstanding shares of the Issuer. This Amendment is the final amendment to the Schedule 13G and constitutes an exit filing for each Reporting Person. P.O. Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands Lightspeed China Partners III, L.P., Lightspeed China Partners Select I, L.P., Lightspeed China Partners III GP, LLC, Lightspeed China Partners Select I GP, LLC: Cayman Islands Guangyi HS Holding Limited: British Virgin Islands James Qun Mi: The United States Aibao Chai: The People's Republic of China Y (1) Lightspeed China Partners III, L.P.: 3,234,448 (2) Lightspeed China Partners Select I, L.P.: 1,751,282 (3) Guangyi HS Holding Limited: 171,795 (4) Lightspeed China Partners III GP, LLC: 3,234,448 (5) Lightspeed China Partners Select I GP, LLC: 1,751,282 (6) James Qun Mi: 2,492,865 (7) Aibao Chai: 85,897.5 Notes: (1) Represents 1,600,000 Class B ordinary shares directly held by Lightspeed China Partners III, L.P. and 1,634,448 ADSs, each representing one Class B ordinary share, owned by Lightspeed China Partners III, L.P. (2) Represents 880,000 Class B ordinary shares directly held by Lightspeed China Partners Select I, L.P. and 871,282 ADSs, each representing one Class B ordinary share, owned by Lightspeed China Partners Select I, L.P. (3) Represents 171,795 Class B ordinary shares directly held by Guangyi HS Holding Limited. (4) Represents 3,234,448 Class B ordinary shares indirectly owned by Lightspeed China Partners III GP, LLC. Lightspeed China Partners III GP, LLC is the general partner of Lightspeed China Partners III, L.P., which owned 3,234,448 Class B ordinary shares as of September 30, 2025. (5) Represents 1,751,282 Class B ordinary shares indirectly owned by Lightspeed China Partners Select I GP, LLC. Lightspeed China Partners Select I GP, LLC is the general partner of Lightspeed China Partners Select I, L.P., which owned 1,751,282 Class B ordinary shares as of September 30, 2025. (6) Represents (i) 1,617,224 Class B ordinary shares indirectly owned by James Qun Mi through Lightspeed China Partners III, L.P., and (ii) 875,641 Class B ordinary shares indirectly owned by James Qun Mi through Lightspeed China Partners Select I, L.P. Lightspeed China Partners III, L.P. and Lightspeed China Partners Select I, L.P. owned 3,234,448 and 1,751,282 Class B ordinary shares as of September 30, 2025. Lightspeed China Partners III GP, LLC is the general partner of Lightspeed China Partners III, L.P., and Lightspeed China Partners Select I GP, LLC is the general partner of Lightspeed China Partners Select I, L.P. James Qun Mi has 50% voting power of each of Lightspeed China Partners III GP, LLC and Lightspeed China Partners Select I GP, LLC. (7) Represents 85,897.5 Class B ordinary shares indirectly owned by Aibao Chai through Guangyi HS Holding Limited. Guangyi HS Holding Limited owned 171,795 Class B ordinary shares as of September 30, 2025. Aibao Chai holds 50% controlling power of Guangyi HS Holding Limited. (1) Lightspeed China Partners III, L.P.: 2.1% (2) Lightspeed China Partners Select I, L.P.: 1.1% (3) Guangyi HS Holding Limited: 0.1% (4) Lightspeed China Partners III GP, LLC: 2.1% (5) Lightspeed China Partners Select I GP, LLC: 1.1% (6) James Qun Mi: 1.6% (7) Aibao Chai: 0.1% Note: The percentage of class of securities beneficially owned by each Reporting Person is based on a total of 156,142,211 ordinary shares (consisting of 26,998,861 Class A ordinary shares and 129,143,350 Class B ordinary shares) issued and outstanding as of September 30, 2025. 0 (1) Lightspeed China Partners III, L.P.: 3,234,448 (2) Lightspeed China Partners Select I, L.P.: 1,751,282 (3) Guangyi HS Holding Limited: 171,795 (4) Lightspeed China Partners III GP, LLC: 3,234,448 (5) Lightspeed China Partners Select I GP, LLC: 1,751,282 (6) James Qun Mi: 2,492,865 (7) Aibao Chai: 85,897.5 0 (1) Lightspeed China Partners III, L.P.: 3,234,448 (2) Lightspeed China Partners Select I, L.P.: 1,751,282 (3) Guangyi HS Holding Limited: 171,795 (4) Lightspeed China Partners III GP, LLC: 3,234,448 (5) Lightspeed China Partners Select I GP, LLC: 1,751,282 (6) James Qun Mi: 2,492,865 (7) Aibao Chai: 85,897.5 N Y Y Y Y Y Y Exhibit A: Joint Filing Agreement (incorporated herein by reference to Exhibit 99.1 to the Schedule 13G filed on February 14, 2024, by the reporting persons with the Securities and Exchange Commission) Lightspeed China Partners III, L.P. /s/ James Qun Mi 10/23/2025 Lightspeed China Partners Select I, L.P. /s/ James Qun Mi 10/23/2025 Guangyi HS Holding Limited /s/ James Qun Mi 10/23/2025 Lightspeed China Partners III GP, LLC /s/ James Qun Mi 10/23/2025 Lightspeed China Partners Select I GP, LLC /s/ James Qun Mi 10/23/2025 James Qun Mi /s/ James Qun Mi 10/23/2025 Aibao Chai /s/ Aibao Chai 10/23/2025