SERES(SH:601127) Zhong Jin Zai Xian·2025-10-27 00:49Core Viewpoint - Company is set to launch its IPO on the Hong Kong Stock Exchange, aiming to become the first luxury electric vehicle manufacturer listed in both A-share and H-share markets, enhancing its global presence and competitiveness in the high-end market [1][4]. Group 1: IPO Details - The IPO will have a base issuance of 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, subject to adjustments [3]. - The expected net proceeds from the IPO, assuming the maximum offer price of HKD 131.50 per share and no exercise of the over-allotment option, is estimated at HKD 12.9249 billion [3]. Group 2: Investor Interest - The IPO has attracted interest from 22 cornerstone investors, including notable funds such as Chongqing Industry Mother Fund, Linyuan Fund, and Schroders, indicating strong market confidence [3]. Group 3: Business Performance - The company reported a projected revenue of CNY 145.114 billion for 2024, representing a year-on-year growth of 305.47%, with a net profit of CNY 5.946 billion and a gross margin of 23.8% in the electric vehicle segment [4]. - For the first half of 2025, the company anticipates revenue of CNY 62.359 billion and a net profit of CNY 2.941 billion, reflecting an 81.03% increase year-on-year [4]. Group 4: Strategic Goals - The funds raised from the IPO will be allocated towards R&D, diversified marketing channels, overseas sales, charging network services, and general corporate purposes, positioning the company for future growth [3][4]. - The listing is expected to enhance the company's ability to integrate global resources, collaborate on technology development, and elevate brand value, showcasing the competitiveness of Chinese electric vehicle manufacturers in the high-end market [4].