The Chinese EV Maker Seres Group is rapidly pursuing a Hong Kong listing, with the initial public offering set to raise around US$1.7 billion. This is a company based in Chongqing, which is already on the Shanghai Stock Exchange, seeking to sell 100.2 million H-shares at a ceiling price of about HK$131.50 each (approximately US$16.9). Thus, the total value of the deal is estimated to be HK$13.18 billion.
This IPO is an apparent and considerable boost to Hong Kong’s capital market, as Chinese corporates are using Hong Kong more and more for fund-raising under the current US-regulation tiff and similar issues. The selling point of Chinese EV Maker Seres Group is greatly enhanced by its close cooperation with Huawei Technologies. The latter has assisted Seres in bringing to market the ‘AITO’ line of smart electric vehicles. The work involves car production, connected infrastructure, and AI driving systems.
The firm’s filing papers show that it will make use of the lion’s share of its net proceeds, about HK$12.92 billion. The areas where it could be used are R&D of intelligent cockpit systems and driver-assistance technologies, sales and marketing expansion to other parts of the world and fast-charging infrastructure development (20% of proceeds). While roughly another 10% will go to working capital and general corporate needs.
On the financial side, Seres Group has shown a positive trend. In the 1st half of 2025, net profit increased by approximately 81% on a yearly basis to 2.9 billion yuan, despite the turnover falling by 4% to 6.24 billion yuan. Market analysts observe that the flotation of this stock is going to be linked to the mentioned factors: investor optimism, proper execution of the planned technology-ecosystem build, and the dynamics of global expansion.The EV industry is very competitive; Huawei’s support might give them a plus, but the issue of large-scale production remains a difficult operation to manage. The competitive landscape in China’s EV sector is rapidly evolving, with major players like Tesla scaling up production through facilities such as the Shanghai Gigafactory in Q4 surge
