SERES(SH:601127) Zhi Tong Cai Jing·2025-10-26 23:57Group 1 - The company, Seres, plans to conduct a global offering of 100.2 million H-shares from October 27 to October 31, 2025, with a maximum offer price of HKD 131.50 per share [1] - The company has secured cornerstone investment agreements totaling approximately USD 826.5 million from various investors, including Chongqing Industrial Fund and Huatai Capital [2] - Assuming no exercise of the over-allotment option and a share price of HKD 131.50, the net proceeds from the global offering are expected to be around HKD 12.925 billion, with 70% allocated to R&D, 20% to new marketing channels and overseas sales, and 10% for working capital [3] Group 2 - Seres focuses on the research, development, manufacturing, sales, and service of electric vehicles and core components, achieving significant milestones with its core brand, Wanjie [4] - The Wanjie brand has seen rapid sales growth, with models like Wanjie M5, M7, M8, and M9 achieving notable delivery records and market leadership in their respective segments [4] - Financially, the company's revenue is projected to increase from RMB 35.8 billion in 2023 to RMB 145.1 billion in 2024, representing a year-on-year growth of 305.5%, with gross margin rising from 7.2% to 23.8% [5]