Lawmakers cite national security concerns and call on the SEC and the Treasury to protect American investors from funding a Chinese military-linked company.
A group of GOP senators formally requested that the Securities and Exchange Commission (SEC) and the Treasury Department take immediate action to delist Hesai Group, a Chinese technology company, from the NASDAQ stock exchange. The senators’ letter cites national security concerns, stating that the company has been identified by the Department of Defense as a supporter of the Chinese military.
Senators Rick Scott (R-FL), Marsha Blackburn (R-TN), and Bernie Moreno (R-OH) sent the letter to SEC Chairman Paul Atkins and Treasury Secretary Scott Bessent last week, urging them to protect American investors and national security by removing Hesai from U.S. markets.
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The letter highlights that Hesai is on the Department of Defense’s 1260H list of “Chinese military companies,” a designation that a U.S. District Court decision in July 2025 upheld.
According to the letter, the court found “substantial evidence” that Hesai contributes “to the Chinese defense industrial base” through its Lidar technology. The senators expressed concern that the company’s continued presence on a U.S. exchange allows “hard-working Americans” to unknowingly invest their savings in an entity that supports a foreign military and is reportedly linked to human rights abuses and espionage.
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The senators’ action builds on previous legislative efforts by Senator Scott to hold Communist China accountable. The letter also aligns with the “America First Investment Policy,” which aims to prevent American capital from funding the development and modernization of the Chinese military.
In addition to urging the SEC to delist Hesai, the senators called on the Treasury Department to add the company to the Non-SDN Chinese Military-Industrial Complex Companies (NS-CMIC) List, which would further restrict investment in the company.
The senators requested a response by September 1, 2025, detailing the steps the SEC and Treasury will take to address these concerns.
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