Core Viewpoint - Seres is set to launch its IPO on the Hong Kong Stock Exchange, with a total issuance scale of approximately $1.7 billion, marking it as one of the largest tech IPOs in Asia for 2025 [3][4] Group 1: IPO Details - Seres submitted its listing application to the Hong Kong Stock Exchange on April 28, 2023, and passed the hearing on October 13, 2023 [3] - The international placement and public offering began on October 27, 2023, with the final issue price expected to be determined on November 3, 2023, and trading to commence on November 5, 2023 [3] - The issuance scale is approximately $1.7 billion, with 49% or $826 million already subscribed by 22 cornerstone investors, including Schroders and Mirae [3] Group 2: Valuation and Market Position - The target price range for Seres' shares is set between 120-140 RMB (approximately 150-175 HKD), corresponding to a market capitalization of 118.5-142.2 billion RMB [3] - If priced at 131.50 HKD, Seres' market capitalization would reach approximately 215 billion HKD, placing it alongside other new energy vehicle companies like NIO and Li Auto [3] Group 3: Fund Utilization - 70% of the net proceeds from the fundraising will be allocated to technology research and development, 20% to overseas sales networks and charging infrastructure, and 10% for working capital [3] Group 4: Expansion Plans - Seres plans to establish 100 experience centers in Europe and the Middle East by 2026 and collaborate with Huawei to build a supercharging network aimed at covering 80% of major international highways [4]

格隆汇10月27日｜赛力斯在港交所公告，10月27日-10月31日招股，在港上市拟全球发行100,200,000股 H股（视乎发售量调整权及超额配股权行使与否而定）。除非另行公告，发售价将不超过每股发售股份 131.50港元。预期股票将于11月5日在港交所开始交易。 ...

Group 1 - The company, Seres (09927), plans to conduct an initial public offering (IPO) from October 27 to October 31, 2025 [1] - A total of 100.2 million H-shares will be offered globally, with 10% allocated for public sale in Hong Kong and 90% for international sale [1] - The offering includes an overallotment option of 15% and a 15% adjustment option on the sale volume [1] Group 2 - The maximum offer price is set at HKD 131.50 per share, with a minimum purchase of 100 shares [1] - The H-shares are expected to commence trading on the Hong Kong Stock Exchange on November 5, 2025, at 9:00 AM [1]

Group 1 - The company, Seres (601127)(09927), plans to conduct an initial public offering (IPO) from October 27 to October 31, 2025 [1] - A total of 100.2 million H-shares will be globally offered, with 10% allocated for public sale in Hong Kong and 90% for international sale [1] - The offering includes an over-allotment option of 15% and a 15% adjustment option on the offering size [1] Group 2 - The maximum offer price is set at HKD 131.50 per share, with a minimum purchase of 100 shares [1] - The H-shares are expected to commence trading on the Hong Kong Stock Exchange on November 5, 2025, at 9:00 AM [1]

格隆汇10月27日丨赛力斯(09927.HK)发布公告，公司拟全球发售1.002亿股H股(视乎发售量调整权及超 额配股权行使与否而定)，中国香港发售股份1002万股，国际发售股份9018万股；2025年10月27日至10 月31日招股，预期定价日为11月3日；发售价将不高于每股H股131.50港元，每手买卖单位为100股，中 金公司及中国银河国际为联席保荐人；预期股份将于2025年11月5日开始在联交所买卖。 ...

賽力斯集團股份有限公司 Seres Group Co., Ltd. （於中華人民共和國註冊成立的股份有限公司） 股份代號 : 9927 全球發售 聯席保薦人、整體協調人、聯席全球協調人、聯席賬簿管理人及聯席牽頭經辦人 聯席全球協調人、聯席賬簿管理人及聯席牽頭經辦人 重要提示 重要提示： 倘閣下對本招股章程的任何內容有任何疑問，應諮詢獨立專業意見。 Seres Group Co., Ltd. 賽力斯集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 全球發售 | 全球發售的發售股份數目 | : | 100,200,000股H股（視乎發售量調整權 | | --- | --- | --- | | | | 及超額配股權行使與否而定） | | 香港發售股份數目 | : | 10,020,000股H股（可予重新分配 | | | | 及視乎發售量調整權行使與否而定） | | 國際發售股份數目 | : | 90,180,000股H股（可予重新分配、 | | | | 視乎發售量調整權及超額配股 | | | | 權行使與否而定） | | 最高發售價 | : | 每股H股131.50港元，另加1.0%經紀 | | | | ...

Industry News - Some original manufacturers' DRAM and Flash products are currently in a state of suspended quotation, with prices changing daily even if quoted [6] - A breakthrough in the photoresist field has been achieved by a research team from Peking University, which has developed an industrial solution to significantly reduce lithography defects [4] - The logistics industry is experiencing a price increase success rate of 100% due to factors like "anti-involution" and the upcoming Double Eleven shopping festival [6] - The Shanghai and Shenzhen stock exchanges reported that as of the end of September, the total market value of ETFs in both markets has exceeded 5.6 trillion yuan [6] - JD Logistics announced plans to purchase 3 million robots, 1 million unmanned vehicles, and 100,000 drones over the next five years to enhance its logistics supply chain [7] Company News - Chen Hua, the director of the Guizhou Provincial Energy Bureau, has been appointed as the chairman of Kweichow Moutai Group, following the departure of Zhang Deqin [8] - WuXi AppTec reported a net profit of 12.076 billion yuan for the first three quarters, a year-on-year increase of 84.84%, and plans to sell 100% equity in two subsidiaries for 2.8 billion yuan [8] - Cambridge Technology achieved a revenue of 3.36 billion yuan in the first three quarters, a year-on-year increase of 21.57%, with a net profit of 259 million yuan, up 70.88% [9] - Zhenhai Magnetic Materials reported a net profit growth of 189.72% in the third quarter, primarily due to rising rare earth prices [10] - Dongfang Caifu announced a total revenue of 4.733 billion yuan in the third quarter, a year-on-year increase of 100.65%, with a net profit of 3.53 billion yuan, up 77.74% [11]

Core Viewpoint - The article discusses the significance of the Lingxuan Award in recognizing innovation in the Chinese automotive parts industry, highlighting its evolution over the past decade and its role in shaping the supply chain amidst the trends of electrification and intelligence in the automotive sector [10][12][50]. Group 1: Overview of the Lingxuan Award - The Lingxuan Award is an annual recognition for contributions in the automotive parts sector, evaluated by procurement and R&D leaders from major automotive companies in China [12][20]. - The award has evolved from filling a gap in the industry to becoming a core reference for supply chain choices among major automotive manufacturers [17][50]. - The award aims to discover cost-effective supply chains, enhance local industry security, and promote the transition to "new automobiles" in the era of electrification and intelligence [17][49]. Group 2: Evaluation Process - The evaluation process for the Lingxuan Award has shifted to a more immersive workshop format, allowing for in-depth discussions among judges from procurement and R&D backgrounds [25][30]. - The final evaluation involved 127 cases, with judges discussing and voting on the most innovative and applicable technologies across various categories [10][38]. - The award ceremony will take place during the WNAT-CES 2025 event in December, showcasing the winners and their contributions [10][20]. Group 3: Industry Trends and Insights - The evaluation revealed that 58% of the cases focused on intelligent cockpits, intelligent driving, automotive software, and chips, indicating a shift towards "software-defined vehicles" [38][41]. - Key trends identified include the emergence of new enterprises as vital players in the supply chain, the need for systematic upgrades in cost, safety, and international adaptability, and the growing importance of "emotional value" in user experience [39][41][48]. - The judges emphasized that cost control is paramount in product evaluation, with a focus on integrated architecture to balance cost reduction and intelligent features [44][45]. Group 4: Future Directions - The Lingxuan Award serves as a platform for self-reflection and collaborative evolution within the automotive supply chain, fostering connections between parts manufacturers and automotive companies [50]. - The participation of new enterprises, which accounted for over 20% of the cases, highlights the infusion of fresh energy and innovative technologies into the local supply chain [49][50]. - The award's ongoing mission aligns with the industry's pressing needs, ensuring that it remains relevant and impactful in the face of rapid technological advancements [49][50].

香港交易及結算所有限公司、香港聯合交易所有限公司（「聯交所」）及香港中央結算有限公司 （「香港結算」）對本公告的內容概不負責，對其準確性或完整性亦不發表聲明，並明確表示概不 會就因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 本公告不得直接或間接於或向美國（包括其領土及屬地、美國任何州以及哥倫比亞特區）發佈、 刊發或派發。本公告並不構成或組成在美國境內或於任何其他司法管轄區購買或認購發售股 份的任何要約或招攬的一部分。發售股份並無亦不會根據1933年《美國證券法》（經不時修訂） （「美國證券法」）或美國任何州或其他司法管轄區的證券法登記。發售股份不得在美國境內提呈 發售、出售、質押或以其他方式轉讓，惟根據美國證券法的登記規定獲豁免及遵守任何適用的 州證券法，或根據美國證券法S規例在美國境外向非美國人士投資者或並非為美國人士或為其 利益進行收購的投資者提呈發售、出售、質押或轉讓。發售股份不會在美國公開發售。 本公告僅作說明用途，並不構成收購、購買或認購證券的邀請或要約。本公告並非招股章程。 潛在投資者於決定是否投資所提呈發售的H股前，應閱覽賽力斯集團股份有限公司（「本公司」） 刊 ...

Group 1 - The core point of the article is that Seres Group plans to go public in Hong Kong with a maximum issue price of HKD 131.50 per share, and trading is expected to commence on November 4 [1] Group 2 - The company is preparing for its initial public offering (IPO) in the Hong Kong market [1] - The anticipated trading date indicates a strategic move to attract investors in the region [1] - The set issue price reflects the company's valuation and market positioning ahead of the IPO [1]