Скачать или смотреть Seres Plans $1.7B Hong Kong IPO to Lead Global EV Innovation：The China Briefing20251027

According to The China Briefing, Seres, Huawei’s electric vehicle partner from Chongqing, is gearing up for a big move in Hong Kong. The company plans to raise up to $1.7 billion through a new share sale, issuing 102 million shares at a top price of HK$131.50 each. Pricing will be revealed on November 3rd, with trading starting November 5th. If all goes well, this cash injection will mainly power Seres’s R&D—70% goes straight to innovation, while 20% will help expand new sales channels, overseas markets, and charging networks.

Seres has grown rapidly, especially after teaming up with Huawei since 2019. Huawei supplies them with tech like smart cockpits and driving assist systems, all showcased in over 700 experience centers across China. Seres even invested in a Huawei-owned auto tech company this year, underscoring their close alliance. Financials are strong too—2024 revenue hit 145.1 billion yuan, with a net profit turnaround from last year’s loss. While competition is heating up and sales dipped slightly this year, Seres is betting big on its tech and global ambitions. The Hong Kong listing marks a bold step onto the international stage.

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