七成募资用于研发 赛力斯冲刺港股

Core Viewpoint - Seres is set to become the first luxury new energy vehicle company to list in both A-share and H-share markets, with its IPO in Hong Kong expected to raise approximately HKD 12.92 billion [1][2] Group 1: IPO Details - 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 [1][2] - The IPO subscription period runs until October 31, with the listing date scheduled for November 5 under the stock code "9927" on the Hong Kong Stock Exchange [1] Group 2: Fund Utilization - Approximately 70% of the raised funds will be allocated to research and development, while 20% will be used for diversifying new marketing channels, overseas sales, and charging network services [1][4] - The R&D investment will focus on enhancing core technology capabilities, upgrading the magic cube technology platform, improving intelligent cockpit and assisted driving technologies, and exploring AI applications in the automotive industry [4] Group 3: Financial Performance - Seres reported a revenue growth of 305.04% year-on-year for 2024, with a net profit of CNY 5.946 billion, marking its first profitable year in five years [3] - The sales revenue from the AITO brand, which includes models like the M9, M8, M7, and M5, accounted for 90.9% of Seres' total revenue in 2024, indicating a high dependency on this brand [3] Group 4: Competitive Landscape - The partnership with Huawei has significantly benefited Seres, but it also poses risks due to the increasing competition as Huawei expands its ecosystem with new brands [3][4] - The unique advantages of the AITO brand are diminishing as more competitors emerge within the Huawei ecosystem, leading to potential challenges in maintaining market share [4]