ATLANTA, GA – – (Globe Newswire – May 30, 2023) – – Holzer & Holzer, LLC reminds investors that a class action lawsuit has been filed against Hesai Group (“Hesai Group” or the “Company”) (NASDAQ: HSAI).  The lawsuit alleges Hesai Group’s Registration Statement issued in connection with its Initial Public Offering (“IPO”) contained materially false and/or misleading statements and/or failed to disclose material adverse facts, including: (1) Hesai Group’s gross margin decrease was caused by a lower in-house utilization rate; and (2) Hesai Group’s gross margin was 30% for the fourth quarter—which was completed over a month before the date of the amended registration statement.

If you bought shares of Hesai Group pursuant and/or traceable to the February 9, 2023 IPO and you suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey Holzer, Esq. at cholzer@holzerlaw.com or Joshua Karr, Esq. at jkarr@holzerlaw.com, by toll-free telephone at (888) 508-6832 or you may visit the firm’s website https://holzerlaw.com/case/hesai/ to learn more.

The deadline to ask the court to be appointed lead plaintiff in the case is June 6, 2023.