Core Viewpoint - Domestic car manufacturers are actively seeking to enter the Hong Kong capital market, with several companies, including Seres, Lantu, and Avita, preparing for IPOs to enhance their financing capabilities and support overseas expansion [1][2][3]. Group 1: Company Developments - Seres is applying for a secondary listing in Hong Kong and has entered a "self-sustaining" phase, reporting a net profit increase of 81.03% year-on-year in the first half of the year, despite a revenue decline of 4.06% [2][3]. - Avita, still in a loss-making phase, reported a net loss of 4.018 billion yuan last year and aims to open more financing channels to support its development [2][3]. - Lantu has shown profitability, achieving a profit of 434 million yuan in the first seven months of the year, indicating a stronger financial position compared to its peers [3][4]. Group 2: IPO Objectives and Funding Utilization - The core objective of the IPOs for these companies is to secure multi-channel financing, which will help attract more investors, enhance stock liquidity, and increase company valuations [3][4]. - Seres plans to allocate 70% of the IPO proceeds to R&D, aiming to enhance product development and core technology capabilities [2][4]. - Lantu's independent listing is expected to clarify its market positioning and accelerate its core technology development and overseas expansion [4]. Group 3: Market Context and Growth Potential - The Chinese automotive export market is experiencing rapid growth, with exports reaching 4.292 million units in the first eight months of the year, a year-on-year increase of 13.7%, and electric vehicle exports growing by 87.3% [3][4]. - The recent surge in automotive exports provides a significant opportunity for domestic manufacturers to expand their international presence [3].