Seres Group has officially listed on the main board of the Hong Kong Stock Exchange, making it first Chinese luxury new energy vehicle ( NEV )-maker to be listed on both the A- and H-share markets, the largest initial public offering ( IPO ) ever by a Chinese automaker and the world’s largest automaker IPO so far this year.

This successful Hong Kong listing, the NEV-maker says, provides it with a new international platform for raising capital and supporting long-term growth as well as a solid foundation for the company's global strategy. More important, it establishes a new model for Chinese automakers expanding overseas, combining technological innovation with financial prowess.

Since the launch of Seres’ Hong Kong IPO on October 27, investor enthusiasm has surged. The Hong Kong public offering was oversubscribed by 133 times, raising over HK$170 billion in financing. Approximately 70% of the proceeds will go towards research and development and roughly 20% will support the expansion of diversified new marketing channels, overseas sales and charging network services.

Notably, the offering attracted 22 cornerstone investors, including the Chongqing Industrial Mother Fund, Chongqing Industrial Investment Fund of Funds, Linyuan Fund, GF Fund, Schroders, China Post Wealth and Xingyu Hong Kong, highlighting, the NEV-makers argues, broad recognition from global capital markets of its strong growth prospects and high-quality development.

This strong investor backing is expected to drive a re-rating of the company’s valuation and establish a new benchmark for its investment value, further enhancing its financing capacity and capital efficiency.

The company, a leading player in China’s premium NEV sector, is already expanding its global footprint, with operations now covering multiple countries across Europe, the Middle East, the Americas and Africa. In Europe alone, it has successfully entered key markets, such as Norway, Germany, the UK and Switzerland, marking the initial phase of its global expansion.

Powered by the dual “A+H” capital platform, the company “will continue to drive technological innovation, enhance brand value and expand its presence globally”.