The new energy vehicle (NEV) company SERES (601127.SH) , which collaborates with Huawei to produce the “AITO” brand vehicles, has passed the listing hearing of the Hong Kong Stock Exchange.

CICC and China Galaxy International will act as joint sponsors. Earlier foreign media reports indicated that SERES aims to raise approximately USD1.5 billion in this IPO.

SERES has fully transitioned to the NEV sector since 2016 and launched the “AITO” brand in 2021, according to the PHIP.

Besides sales in China, SERES has made foray into multiple markets including Europe, the Middle East, the Americas, and Africa, with overseas revenue accounting for about 2.3% of total revenue in 1H25.
(A Shares quote is delayed for at least 15 mins.)