Hesai Technology emphasizes its independence and demands the revocation of the US Department of Defense's decision

In its motion for summary judgment, Hesai Technology detailed its company background, emphasized its independence and transparency as a Nasdaq-listed company, and requested the revocation of the U.S. Department of Defense’s decision. After the U.S. Department of Defense added Hesai Technology to the sanctions list, the company’s stock price fell by more than 30% in one day, affecting ongoing contract negotiations and existing and potential customer relationships.