Core Viewpoint - Seres has successfully listed on the Hong Kong Stock Exchange, marking a significant step in its international capital strategy and laying a solid foundation for its future global expansion [3][4]. Group 1: Company Overview - Seres has evolved over nearly 40 years, transitioning from automotive parts to high-end intelligent manufacturing, and has become a leader in China's high-end new energy vehicle market [4]. - The company has made significant strides since its transformation to new energy vehicles in 2016, including a partnership with Huawei to launch the high-end smart electric vehicle series, AITO [4][10]. Group 2: IPO Details - The company plans to issue 100.2 million H-shares, aiming for a net fundraising of approximately HKD 14.016 billion (about RMB 12.85 billion), which would be the largest IPO for a Chinese car company to date and the largest globally since 2025 [4][5]. - The IPO attracted 22 cornerstone investors, including notable institutions, collectively subscribing for approximately HKD 8.26 billion (about RMB 7.5 billion), reflecting strong market confidence in Seres' long-term value [5]. Group 3: Sales and Financial Performance - In October, Seres sold 51,456 new energy vehicles, a year-on-year increase of 42.89%, setting a new monthly sales record [6]. - Cumulatively, from January to October, the company sold 356,085 vehicles, with the AITO brand achieving a delivery milestone of over 800,000 units by September 2025 [6]. - Revenue for Seres was reported at RMB 340.56 billion in 2022 and RMB 357.89 billion in 2023, with a projected revenue of RMB 1,451.76 billion in 2024, marking a year-on-year increase of 305.04% [7]. Group 4: Profitability and Margins - Seres turned a profit in 2024 with a net profit of RMB 47.4 billion, becoming the fourth global new energy vehicle company to achieve profitability [9]. - The gross profit margin improved significantly from 7.2% in 2023 to 23.8% in 2024, indicating a strong enhancement in profitability quality [8]. Group 5: Product Strategy and R&D - The company has established a comprehensive product matrix with models M9, M8, M7, and M5, catering to diverse consumer needs in the luxury segment [12]. - Seres has invested over RMB 14 billion in R&D from 2022 to mid-2025, increasing its R&D expenditure as a percentage of revenue from 3.9% to 4.7% [12]. Group 6: Global Expansion and Partnerships - Seres is expanding its global footprint, planning to open 100 experience centers in Europe and the Middle East by 2026, and is collaborating with Huawei to build a network of supercharging stations [17]. - The company has formed strategic alliances with tech giants like ByteDance to enhance its AI capabilities, focusing on intelligent robotics and decision-making technologies [18].

11月2日，赛力斯(9927.HK)发布公告，公司已确定本次H股发行的最终价格为每股131.50港元(不包括1%经纪佣金、0.0027%证监会交易征费、0.00565%联交所交易费及0.00015%会财局交 此外，赛力斯发售量调整权已获部分行使，预计将发行及配发841.9万股额外发售股份，占全球发售项下初步可供认购的发售股份总数的约8.40%。赛力斯H股的买卖单位为每手100股H股，买卖 此次IPO募资净额将主要用于研发投入、多元化新营销渠道投入、海外销售及充电网络服务。公司预计于11月5日(周三)在香港联交所挂牌上市。此前公开数据显示，香港招股公开发售部分预计 作为一家以新能源汽车为核心业务的技术科技型企业，赛力斯始终锚定高端智能电动汽车主航道。2025年前三季实现营收1105.34亿元，归属于上市公司股东的净利润高达53.12亿元，同比增 ...