赛力斯|通过港股聆讯，“A+H”两地上市近在咫尺

Core Viewpoint - The company, Seres, is advancing its plans for a dual listing in Hong Kong, leveraging its partnership with Huawei as a key strategy for attracting investors and enhancing its market position [1][3][10]. Group 1: Listing Progress - Seres has successfully passed the listing hearing for the Hong Kong Stock Exchange, with joint sponsors being CICC and China Galaxy International Securities [1]. - The company initiated its H-share issuance plan on March 30, 2025, and formally submitted its listing application to the Hong Kong Stock Exchange on April 28, 2025 [2]. - Following the approval from the China Securities Regulatory Commission for its H-share listing application, Seres plans to issue up to 331 million shares [2][3]. Group 2: Financial Performance - In the first half of the year, Seres reported a revenue of 62.4 billion yuan, a decrease of 4% year-on-year, while net profit attributable to shareholders increased by 81% to 2.94 billion yuan [4][5]. - The company experienced a significant increase in gross margin, reaching 28.93%, which is approximately 18 percentage points higher than the industry average of 10.9% [5]. - The net assets attributable to shareholders rose by 118.2% year-on-year, reaching approximately 26.76 billion yuan, while total assets increased by 19.66% to about 112.91 billion yuan [4]. Group 3: Strategic Partnerships - The deep collaboration with Huawei has been pivotal for Seres, particularly in the success of its AITO brand, which was launched in partnership with Huawei [6][7]. - The company has successfully launched multiple models under the AITO brand, achieving significant sales milestones, including the M8 model, which sold 90,000 units within five months [8]. - Seres aims to reinforce its unique position in the market by emphasizing its relationship with Huawei in its listing materials, as the partnership is seen as a critical factor for its growth and innovation capabilities [10].