Seres Debuts on HKEX Main Board to Strengthen Global Strategy

Seres Group (“Seres”, stock code: 9927.HK)today officially listed on the Main Board of the Hong Kong Stock Exchange, marking a significant milestone as China’s first premium new energy vehicle (NEV) manufacturer with a dual A-share and H-share listing. The IPO raised net proceeds of HK$14.016 billion, making it the largest IPO by a Chinese automaker on record and the largest global automotive IPO since 2025.

The successful listing establishes a new international financing platform that will support Seres’ long-term growth and global expansion strategy. It also introduces a “technology + capital” dual-drive model that sets a new benchmark for Chinese automotive companies expanding overseas.

“A+H” Structure to Fuel Global Growth
Since its Hong Kong IPO subscription opened on October 27, Seres has attracted strong investor interest, with the public offering oversubscribed by 133 times and generating over HK$170 billion in orders. About 70% of the proceeds will be directed toward R&D, while roughly 20% will fund the development of diversified sales channels, overseas operations, and charging infrastructure.

The offering secured 22 cornerstone investors, including Chongqing FOF, Lin Yuan Fund, GF Fund, Schroders,PSBC Wealth Management, and Universal Star Hong Kong. Their participation underscores strong market recognition of Seres’ high-quality development and growth trajectory, reinforcing the company’s valuation and enhancing its future financing and capital management capabilities.

As a leading player in China’s premium NEV segment, Seres has already expanded into key markets across Europe, the Middle East, the Americas, and Africa. In Europe, it has successfully entered Norway, Germany, the United Kingdom, and Switzerland, forming the foundation of its global footprint. Backed by the “A+H” dual-capital platform, Seres plans to further accelerate innovation, brand development, and worldwide market penetration.

Focused on Premium Smart EVs, Building Technology Leadership
A technology-driven NEV manufacturer, Seres has consistently focused on the premium smart electric vehicle segment. After fully transitioning to NEVs in 2016, Seres launched the AITO brand in 2021 through a strategic collaboration with Huawei, introducing a new vision of “intelligence redefining luxury.” To date, AITO has launched four models—the AITO M9, AITO M8, AITO M7, and AITO M5—which have been well received by the market, with cumulative deliveries surpassing 800,000 units.

Guided by a software-defined vehicle philosophy, Seres continues to advance innovation anchored in safety and redefine luxury with intelligence. The company has introduced several proprietary technologies, including the SERES MF Platform, Range-Extending Technology, and SERES Intelligent Safety Package, building a strong technological moat.

Seres is also collaborating with leading academic and technology partners to advance research in emerging fields such as embodied intelligence. By leveraging its industrial and manufacturing expertise, the company aims to promote the application of AI in real-world settings, developing intelligent, safe, and emotionally aware mobility solutions that serve as companions and partners for users.

Moving forward, Seres will continue to prioritize technological innovation and user-centric development as it strengthens its position in the global premium NEV market, contributing to the high-quality growth of China’s automotive industry.