SERES Group was officially listed on the Main Board of the Hong Kong Stock Exchange. With this milestone, SERES is now the first Chinese luxury new energy vehicle (NEV) maker to be listed on both the A-share and H-share markets. It is the largest IPO ever by a Chinese automaker and also the world’s largest automaker IPO so far this year.
This successful Hong Kong listing provides SERES with a new international platform for raising capital and supporting long-term growth as well as a solid foundation for the company’s global strategy. More importantly, it establishes a new model for Chinese automakers expanding overseas, combining technological innovation with financial prowess.
Since the launch of SERES’ Hong Kong IPO on October 27, investor enthusiasm has surged. The Hong Kong public offering was oversubscribed by 133 times, raising over HK$170 billion in financing. Approximately 70% of the proceeds will go toward research and development, and roughly 20% will support the expansion of diversified new marketing channels, overseas sales, and charging network services.
Notably, the offering attracted 22 cornerstone investors, including the Chongqing Industrial Mother Fund (Chongqing Industrial Investment Fund of Funds) (FoF), the Linyuan Fund, the GF Fund, Schroders, China Post Wealth, and Xingyu Hong Kong, highlighting broad recognition from global capital markets of SERES’ strong growth prospects and high-quality development. This strong investor backing is expected to drive a re-rating of the company’s valuation and establish a new benchmark for SERES’ investment value, further enhancing its financing capacity and capital efficiency.
A leading player in China’s premium NEV sector, SERES is already expanding its global footprint, with operations now covering multiple countries across Europe, the Middle East, the Americas, and Africa. In Europe alone, SERES has successfully entered key markets such as Norway, Germany, the U.K., and Switzerland, marking the initial phase of its global expansion. Powered by the dual “A+H” capital platform, SERES will continue to drive technological innovation, enhance brand value, and expand its presence globally.
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