SERES(SH:601127) Ge Long Hui·2025-10-27 00:21Core Viewpoint - Company Seres is launching its IPO in Hong Kong, aiming to become the first luxury new energy vehicle company listed in both A-share and H-share markets, with a focus on high-end smart electric vehicles [1][5] Group 1: IPO Details - The IPO period runs from October 27 to October 31, with the listing date set for November 5 under the stock code "9927" [1] - Seres plans to issue 100.2 million H-shares, with 10.02 million shares available for public offering in Hong Kong and approximately 90.18 million shares for international placement [3] - The estimated net proceeds from the IPO, assuming the maximum offering price of HKD 131.50 per share and no exercise of the over-allotment option, is expected to be HKD 12.9249 billion [3] Group 2: Investor Interest and Fund Utilization - The IPO has attracted 22 cornerstone investors, including notable funds such as Chongqing Industry Mother Fund and Schroders [3] - The raised funds will be allocated for R&D, diversified marketing channels, overseas sales, charging network services, and general corporate purposes [3] Group 3: Financial Performance - According to the prospectus, Seres is projected to achieve revenue of CNY 145.114 billion in 2024, representing a year-on-year growth of 305.47%, with a net profit of CNY 5.946 billion [4] - For the first half of 2025, the company expects to continue its growth trajectory with revenue of CNY 62.359 billion and a net profit of CNY 2.941 billion, marking an 81.03% increase year-on-year [4] Group 4: Strategic Implications - The Hong Kong listing is anticipated to enhance Seres' global resource integration, technology collaboration, and brand value, showcasing the core competitiveness of Chinese new energy vehicle companies in the high-end market [5]