SCHEDULE 13G 0001780948 XXXXXXXX LIVE Class B ordinary shares, par value US$0.0001 12/31/2024 0001861737 Hesai Group 428050108 9th Floor, Building L2-B 1588 Zhuguang Road, Qingpu District Shanghai F4 201702 Rule 13d-1(d) Lightspeed Opportunity Fund, L.P. b E9 0.00 8000000.00 0.00 8000000.00 8000000.00 8.2 PN Lightspeed General Partner Opportunity Fund, L.P. b E9 0.00 8000000.00 0.00 8000000.00 8000000.00 8.2 PN Lightspeed Ultimate General Partner Opportunity Fund, Ltd. b E9 0.00 8000000.00 0.00 8000000.00 8000000.00 8.2 OO Arif Janmohamed b X1 0.00 8000000.00 0.00 8000000.00 8000000.00 8.2 IN Ravi Mhatre b X1 0.00 8000000.00 0.00 8000000.00 8000000.00 8.2 IN Hesai Group 9th Floor, Building L2-B, 1588 Zhuguang Road, Qingpu District, Shanghai, F4, 201702. The names of the persons filing this report (collectively, the "Reporting Persons") are: Lightspeed Opportunity Fund, L.P. ("Opportunity") Lightspeed General Partner Opportunity Fund, L.P. ("LGP") Lightspeed Ultimate General Partner Opportunity Fund, Ltd. ("LUGP") Arif Janmohamed ("Janmohamed") Ravi Mhatre ("Mhatre") The Reporting Persons expressly disclaim status as a "group" for purposes of this Schedule 13G. c/o Lightspeed Venture Partners 2200 Sand Hill Road Menlo Park, CA 94025 Opportunity Cayman Islands LGP Cayman Islands LUGP Cayman Islands Janmohamed United States Mhatre United States Y There is no CUSIP number assigned to the Class B ordinary shares. CUSIP number 428050108 has been assigned to the American Depositary Shares ("ADSs") of the Issuer. Each ADS represents one Class B ordinary share. Row 9 of each Reporting Person's cover page to this Schedule 13G sets forth the aggregate number of shares of the Issuer beneficially owned by such Reporting Person as of December 31, 2024 and is incorporated by reference. Opportunity directly holds 8,000,000 ADS of the Issuer, representing an aggregate of 8,000,000 Class B ordinary shares. LGP is the general partner of Opportunity and LUGP is the general partner of LGP. Each of Janmohamed and Mhatre is a director of LUGP. Each of LGP, LUGP, Janmohamed and Mhatre possesses power to direct the voting and disposition of the securities held by Opportunity. Row 11 of each Reporting Person's cover page to this Schedule 13G sets forth the percentage of the Issuer's Class B ordinary shares beneficially owned by such Reporting Person as of December 31, 2024 and is incorporated by reference. The percentage set forth in each row 11 is based upon a total of 96,995,110 Class B ordinary shares outstanding as of December 31, 2023, as reported in the Issuer's Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 25, 2024. Row 5 of each Reporting Person's cover page to this Schedule 13G sets forth the sole power to vote or to direct the vote of securities of the Issuer beneficially owned by such Reporting Person as of December 31, 2024 and is incorporated by reference. Row 6 of each Reporting Person's cover page to this Schedule 13G sets forth the shared power to vote or to direct the vote of securities of the Issuer beneficially owned by such Reporting Person as of December 31, 2024 and is incorporated by reference. Row 7 of each Reporting Person's cover page to this Schedule 13G sets forth the sole power to dispose or to direct the disposition of securities of the Issuer beneficially owned by such Reporting Person as of December 31, 2024 and is incorporated by reference. Row 8 of each Reporting Person's cover page to this Schedule 13G sets forth the shared power to dispose or to direct the disposition of securities of the Issuer beneficially owned by such Reporting Person as of December 31, 2024 and is incorporated by reference. Y Y Y Y Y Y Exhibit 99.1 Joint Filing Agreement Lightspeed Opportunity Fund, L.P. /s/ Ravi Mhatre 02/14/2025 Lightspeed General Partner Opportunity Fund, L.P. /s/ Ravi Mhatre 02/14/2025 Lightspeed Ultimate General Partner Opportunity Fund, Ltd. /s/ Ravi Mhatre 02/14/2025 Arif Janmohamed /s/ Arif Janmohamed 02/14/2025 Ravi Mhatre /s/ Ravi Mhatre 02/14/2025 Note 1: By Lightspeed General Partner Opportunity Fund, L.P., its General Partner, By Lightspeed Ultimate General Partner Opportunity Fund, Ltd., its General Partner, By Ravi Mhatre, Duly Authorized Signatory