概要：赛力斯为新能源汽车投资者带来豪华之选

Core Viewpoint - The company, Seres Group, is set to raise approximately $1.7 billion through its IPO in Hong Kong, positioning itself as a significant player in the high-end electric vehicle market in China, akin to Tesla, BMW, and Mercedes-Benz [1][2]. Group 1: IPO Details - Seres plans to issue around 100 million shares at a price of HKD 131.50 per share, aiming for a total fundraising of approximately HKD 12.9 billion (around $1.66 billion), making it the third-largest IPO in Hong Kong this year [2]. - The IPO has seen an oversubscription rate of 133 times, with total subscription amounts exceeding HKD 120 billion [2]. Group 2: Market Position and Growth - The electric vehicle market in China has rapidly grown, with new energy vehicles accounting for half of passenger car sales, and Seres is emerging as a new contender in this space [1]. - The company's AITO brand has gained traction, with projected deliveries of over 200,000 units of the AITO M7 in 2024, making it the best-selling model in the 300,000 yuan price segment [1]. Group 3: Financial Performance - Seres has shown strong financial growth, with revenue increasing from 34.1 billion yuan (approximately $4.8 billion) in 2022 to an expected 145 billion yuan in 2024, marking a nearly fourfold increase [4]. - The sales volume of the AITO series is projected to reach 387,100 units in 2024, representing a year-on-year increase of 268% [4]. - Despite a slight revenue decline in the first half of the year, the company rebounded in the second quarter with a 10.8% year-on-year growth following the launch of the AITO M8 [6]. Group 4: Profitability and Margins - Seres is one of the few profitable companies in the competitive Chinese electric vehicle market, achieving a gross margin increase from 7.2% in 2023 to 26.5% in the first half of this year [6]. - The net profit for the first half of the year reached 2.94 billion yuan [6]. Group 5: Strategic Partnerships - A key aspect of Seres' appeal is its collaboration with Huawei, which supplies critical components for the intelligent cockpit and driver assistance systems across the AITO model range [7].