Chinese electric vehicle maker Seres Group is gearing up for a blockbuster debut on the Hong Kong Stock Exchange, eyeing up to $1.7 billion in what’s shaping up to be one of Asia’s biggest tech listings this year. For Seres, this isn’t just about raising capital; it’s about cementing its comeback story, powered by an unlikely but potent ally: Huawei.
A Big Bet on Global Reach
Based in Chongqing, Seres plans to offer 100.2 million shares, priced at up to HK$131.50 each. Trading is slated to start on November 5, with final pricing on November 3. The IPO lands at a moment when Hong Kong’s listing scene is buzzing again, and Seres is stepping right into that momentum.
Investors are paying attention. The EV maker is pitching itself as more than another car company; it wants to be seen as a smart mobility brand with global reach, blending engineering with cutting-edge software from Huawei.
Confidence from Heavyweights
Seres’ IPO has already found solid ground with 22 cornerstone investors pledging roughly $826.5 million, covering nearly half the total deal size at the top range. The largest backer, the Chongqing Industrial Parent Fund, has committed about HK$2.18 billion. Other big names like Schroders, Mirae Asset, and China MeiDong Auto are also on board.
That kind of backing doesn’t come easy. It shows clear trust not only in Seres’ numbers but also in its story — one of grit, reinvention, and timing.
The Huawei Effect
A few years ago, Seres was barely on the radar. Its early EV efforts struggled to gain traction. Then came Huawei. The partnership gave birth to the Aito brand. Huawei brought in the tech muscle (from AI-driven cockpits to smart driving systems), while Seres handled design and manufacturing.
The results were dramatic. In 2024, Seres delivered 426,900 EVs, a 183% jump from the year before, and finally turned a profit after five years, earning 5.9 billion yuan. The momentum carried into 2025, with first-half profits climbing another 81% year-over-year to 2.94 billion yuan.
The Aito M9, the flagship SUV, has been a runaway hit leading China’s premium SUV segment above 500,000 yuan for 17 straight months.
What the Money Will Fuel
Seres isn’t slowing down. About 70% of the IPO funds will go toward research and development, including work on next-gen EV architectures, battery tech, and software integration. Another 20% is set aside for overseas expansion — showrooms, charging infrastructure, and regional partnerships.
The rest will strengthen operations as Seres prepares to take its story global.
Hong Kong’s Comeback and Seres’ Next Chapter
Seres’ listing also rides on Hong Kong’s own comeback. The city has pulled in $23.9 billion from IPOs in the first nine months of 2025, nearly triple last year’s total. It’s the most active the exchange has been since 2021.
Looking ahead, Seres plans to open 100 experience centers across Europe and the Middle East by 2026, and, together with Huawei, build a supercharging network covering 80% of major international highways. The Aito brand already debuted in Europe at the IAA Mobility Show in Munich, with Middle East launches on the way.
More Than an IPO
For Seres, this public offering is less of a finish line and more of a launchpad. A few years ago, the company was fighting for relevance. Now it’s a headline act in the global EV race, driven by technology, partnerships, and a clear belief that Chinese innovation can compete anywhere.
The road ahead won’t be easy. But for Seres, every kilometer now counts.
