Seres Group Raises $1.8 Billion in Hong Kong IPO, Eyes Global EV Expansion

**Seres Group’s Hong Kong IPO Raises $1.8 Billion, Fuelling EV Innovation and Global Expansion**

Seres Group recently completed a highly successful Hong Kong listing, raising $1.8 billion by selling 108.6 million shares at HKD 131.50 per share. Priced at a 22% discount to its Shanghai closing price, this IPO marks the eighth deal over $1 billion in Hong Kong this year. Trading is set to commence on November 5 under the ticker “9927.”

The listing establishes Seres as the first luxury new energy vehicle (NEV) maker with dual A+H listings in mainland China and Hong Kong. This strategic move aims to enhance the company’s access to international capital markets and support its robust growth trajectory in the electric vehicle (EV) sector.

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### Partnership with Huawei Drives Intelligent EV Growth

A key driver behind Seres Group’s recent success is its strategic partnership with Huawei. This collaboration has significantly boosted Seres’ capabilities in intelligent electric vehicles, integrating advanced driver assistance systems and other high-tech features into its AITO model lineup.

As a result, Seres projects profit growth of up to 72%, with net profits reaching 10.2 billion yuan by 2025. To date, the company has delivered over 800,000 AITO vehicles, including the M9 model which boasts a remarkable Net Promoter Score (NPS) of 85.2—the highest among NEVs.

Industry analysts highlight that Huawei’s technological expertise stabilizes Seres’ stock performance, supporting a market capitalization approaching $35.8 billion on the Shanghai Stock Exchange. Shares have risen more than 20% year-to-date.

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### Financial Performance and Market Position

In Q3, Seres reported revenue of 110.53 billion RMB alongside a year-over-year net profit increase of 31.56%, reaching 5.31 billion RMB. These impressive figures have propelled Seres to rank 190th among China’s top 500 companies.

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### AITO Models Leading Delivery Growth

The success of Seres’ AITO brand is a significant factor behind its growth. Notable models include:

– **M9**: Sold over 250,000 units in 84 weeks, leading in premium EV segments with exceptional customer loyalty reflected by its NPS of 85.2.
– **M8**: Maintains bestseller status with over 100,000 deliveries in its price bracket.
– **M7**: Achieved 200,000 deliveries in just 36 days.

According to Seres’ delivery data and Landroads Consulting’s 2025 Half-Year Brand Development Confidence Index, AITO ranks first in brand confidence and performance.

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### Key Details of the Hong Kong Listing

– **Funds Raised**: $1.8 billion through an expanded offering exceeding initial targets of $1.5 to $2 billion.
– **Shares Issued**: 108.6 million at HKD 131.50 each, including an over-allotment option.
– **Purpose of Funding**: Support global expansion and product development initiatives.
– **Trading Details**: Commences November 5 under ticker 9927; co-sponsored by China Galaxy Securities and China International Capital Group.

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### Summary of Key Takeaways

– **Successful Fundraising Milestone**: The $1.8 billion IPO at a 22% discount strengthens Seres Group’s financial position for international growth.
– **Impressive Delivery Records**: Over 800,000 AITO units delivered, with the M9 setting new sales benchmarks in the premium EV market.
– **Financial and Market Standing**: Q3 net profit rose 31.56%, elevating Seres to 190th place among China’s largest companies—highlighting potential investment opportunities.

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### Conclusion

Seres Group’s landmark Hong Kong IPO not only boosts its capital for global expansion but also underscores its leadership in luxury new energy vehicles. Backed by a strong partnership with Huawei, impressive delivery figures, and robust financial performance, Seres is well-positioned to drive innovation and growth in the rapidly evolving EV market.

Stay informed on this dynamic company’s developments as it advances its mission to lead the future of intelligent electric mobility.
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