Huawei-backed Seres Group to List H-shares in Hong Kong on November 5
Seres Group, a key automotive partner of Huawei, has confirmed that trading for its newly issued H-shares on the Hong Kong Stock Exchange will commence on November 5. The final offering price has been established at HK$131.50 per share, equivalent to approximately RMB 120.5 or US$16.9, excluding commissions and fees. As a core member of Huawei’s Harmony Intelligent Mobility Alliance (HIMA), Seres leverages Huawei’s technology for smart cockpits and autonomous driving in brands like AITO. The company initiated this listing process in April, submitting its application on April 28, passing the regulatory hearing on October 13, and launching international and public offerings on October 27. Financially, Seres demonstrated robust growth in 2024, reporting revenue of RMB 145.18 billion, a significant 305% year-on-year increase. The company also achieved a net profit of RMB 5.95 billion and maintained an automotive gross margin of 26.21%. This listing marks a major milestone in Seres' capital expansion strategy and underscores the strengthening commercial ties between traditional automakers and tech giants in the evolving electric vehicle market.
Wire timeline
Huawei-backed Seres Group to List H-shares in Hong Kong on November 5
Seres Group, a key automotive partner of Huawei, has confirmed that trading for its newly issued H-shares on the Hong Kong Stock Exchange will commence on November 5. The final offering price has been established at HK$131.50 per share, equivalent to approximately RMB 120.5 or US$16.9, excluding commissions and fees. As a core member of Huawei’s Harmony Intelligent Mobility Alliance (HIMA), Seres leverages Huawei’s technology for smart cockpits and autonomous driving in brands like AITO. The company initiated this listing process in April, submitting its application on April 28, passing the regulatory hearing on October 13, and launching international and public offerings on October 27. Financially, Seres demonstrated robust growth in 2024, reporting revenue of RMB 145.18 billion, a significant 305% year-on-year increase. The company also achieved a net profit of RMB 5.95 billion and maintained an automotive gross margin of 26.21%. This listing marks a major milestone in Seres' capital expansion strategy and underscores the strengthening commercial ties between traditional automakers and tech giants in the evolving electric vehicle market.
TechNode