Group 1 - Seres Group Co., Ltd. (赛力斯) is preparing for an IPO on the Hong Kong Stock Exchange, having submitted its prospectus on April 28, 2025, and received approval from the China Securities Regulatory Commission on September 23, 2025 [2][5] - The company plans to issue up to 331.48 million shares and has a market capitalization exceeding RMB 263.7 billion as of October 13, 2025 [2][5] - Seres focuses on the research, manufacturing, sales, and service of electric vehicles and core components, having transitioned to the new energy vehicle sector in 2016 [5][10] Group 2 - The core brand "Wenjie" has rapidly gained market traction, with models like Wenjie M5, M7, M8, and M9 achieving significant sales milestones, including M7 being the best-selling model in the 300,000 RMB price range in China [5][6] - Wenjie brand's total deliveries reached 387,100 units in 2024, marking a 268% year-on-year increase, and it topped the NPS recommendation score in the second half of 2024 with 82% [6][10] Group 3 - Seres operates multiple smart factories, with a total annual production capacity of approximately 600,000 vehicles, emphasizing quality control and high delivery capabilities [8][10] - The company has established a robust technological foundation, including the "Magic Cube" technology platform, which supports various powertrain configurations and enhances production efficiency [9][10] Group 4 - Financial performance shows a revenue increase from RMB 340.56 billion in 2022 to RMB 1,451.14 billion in 2024, with a net profit turnaround from losses in previous years to a profit of RMB 47.40 billion in 2024 [17][18] - The shareholder structure indicates that the largest shareholder group, led by Zhang Xinghai, holds 28.57% of the shares, followed by Dongfeng Motor with 20.04% [12][13]