HONG KONG, January 14, 2026 - (ACN Newswire) – (Published on Nov. 5, 2025) Driven by the global push for "dual-carbon" goals, the implementation of new energy policies worldwide, and evolving consumer demand, the new energy vehicle (NEV) industry has emerged as a core sector with the highest growth potential in the Hong Kong stock market, attracting significant attention from institutions and investors.

On November 5, the Hong Kong stock market welcomed a new player to its NEV sector. SERES (Stock Code: 9927) officially commenced trading on the Main Board of The Stock Exchange of Hong Kong Limited. Christopher Hui (Hui Ching-yu), Secretary for Financial Services and the Treasury, and Lillian Cheong Man-lei, Under Secretary for Innovation, Technology and Industry of the Hong Kong Government, both attended the listing ceremony of Seres held at the Hong Kong Exchanges and Clearing Limited (HKEX) today.

As a leading enterprise in China's NEV industry, SERES initiated its Hong Kong IPO offering process on October 27. The base offering size for the IPO is 100.2 million H-shares.Not only has Seres' IPO attracted significant market attention this time, but it has also drawn 22 well-known domestic and overseas institutions—including Chongqing Industrial Master Fund, Linyuan Fund, GF Fund, Schroder, and China Post Wealth Management—to participate as cornerstone investors. This further underscores the institutions' recognition of its future development potential.

Since the launch of the subscription, SERES has drawn considerable market attention, with exceptionally strong subscription interest and sustained high investor enthusiasm. According to announcement alloment results, by November 4, the Hong Kong public offering was oversubscribed by more than 130 times, while the international placement also received an oversubscription multiple of more than 8 times, fully demonstrating the market's high recognition of SERES' investment value.

Dual Focus on "Luxury + Technology", Hailed as the "Tesla of China"

SERES is a technology company focused on NEVs, including the research and development, manufacturing, sales and services of NEVs as well as core NEV components. In 2016, SERES embarked on a comprehensive transformation, focusing on the NEV sector. In 2021, SERES officially launched the AITO brand, positioning itself as "Intelligence Redefines Luxury". Leveraging a clear product strategy, outstanding comprehensive performance, and inherent luxury genes, AITO quickly gained high industry acclaim, earning the reputation of being the "Mercedes-Benz and BMW of China".

Guided by the brand philosophy of "Intelligence Redefines Luxury", AITO has established a unique identity by concurrently advancing "Luxury + Technology" from a technological standpoint. In core future mobility fields like driving assistance, intelligent safety, and intelligent powertrain, AITO shares a highly aligned vision with Tesla, jointly exploring the transformation of mobility. To date, the cumulative assisted driving distance of AITO models has exceeded 3.45 billion kilometers, with assisted driving accounting for 40% of the total distance traveled, representing particularly outstanding achievements.

Simultaneously, SERES has been continuously delving into cutting-edge technologies and proactively venturing into the field of embodied intelligence. Recently, SERES officially announced a collaboration with Volcano Engine, marking a new stage in its R&D and application innovation in this area, demonstrating strategic foresight on par with internationally leading automakers. It is precisely these breakthroughs and explorations in technology that have earned AITO the moniker "Tesla of China".

To date, SERES' AITO brand has established a complete product matrix comprising four models: the AITO M9, M8, M7, and M5. As the core brand, AITO has seen sustained high-speed sales growth since its launch, with multiple performance indicators showing strong results. Among these, the AITO M5 set the record for the fastest delivery of over 10,000 vehicles within the year of launch for a new brand's model. The AITO M7 successfully ranked first in sales among Chinese autonomous brand models in the RMB300,000 price segment, becoming a benchmark product in that category. The AITO M9 emerged as a leader in the Chinese market for models priced above RMB500,000, claiming the top sales spot. Additionally, the AITO M8, officially launched in April 2025, received over 30,000 non-refundable orders within just 24 hours of its launch.

According to the Frost & Sullivan Report, in the second half of 2024, the AITO brand topped China’s NEV reputation rankings with a Net Promoter Score (NPS) of 82%. For the full year 2024, the AITO brand achieved total deliveries of 387,100 vehicles, a year-on-year increase of 268%, demonstrating robust growth momentum.

Continuous Optimization of Operational Quality: ESG Performance Gains Industry Recognition

The consistently strong sales performance of the AITO brand has provided solid support for the overall operational improvement of SERES. In terms of revenue, the Company's operating income surged from RMB35.8 billion in 2023 to RMB145.1 billion in 2024, a year-on-year increase of 305.5%, fully demonstrating the strong momentum of its scale expansion. Profitability has also steadily increased, with the gross profit margin rising from 7.2% in 2023 to 26.5% in the first half of 2025. The Company achieved profitability for the first time in 2024, recording a net profit attributable to owners of the Company of RMB5.9 billion. This profitable trend continued into the first half of 2025, with a net profit attributable to owners of the Company of RMB2.9 billion, indicating ongoing optimization of operational quality.

Alongside significant operational improvements, SERES has also achieved outstanding results in corporate social responsibility and sustainable development. Its strong ESG performance has become a crucial cornerstone for solidifying its industry competitiveness. On October 16, 2025, the international authoritative index company MSCI released its latest corporate ESG ratings. SERES, recognized for its excellent performance in environmental, social, and governance aspects, received the highest AAA rating. This achievement makes SERES the only A-share listed automobile enterprise to receive this honor, fully highlighting its leading position in building the future mobility ecosystem.

From an industry perspective, driven by the continuous iteration and upgrading of the technical performance of new energy passenger vehicles, increasing policy support from countries and regions globally, and growing consumer environmental awareness, the global new energy passenger vehicle market has experienced rapid development. Global sales of new energy passenger vehicles surged from 6.2 million vehicles in 2021 to 17.1 million vehicles in 2024, representing a compound annual growth rate (CAGR) of 40.2% during this period. The penetration rate of new energy passenger vehicles in the global passenger vehicle market increased from 9.7% in 2021 to 23.0% in 2024. Looking ahead, as the comprehensive competitiveness of new energy passenger vehicles further strengthens, global sales are expected to exceed 42.3 million vehicles by 2030, with a CAGR of 16.3% from 2024 to 2030. The market penetration rate is anticipated to climb to 47.0%, indicating the continuous release of the industry's growth potential.

With its listing in Hong Kong, SERES will leverage the broad platform of the Hong Kong market to further strengthen its investment in technological R&D and global layout, continuously improve its "Luxury + Technology" product ecosystem, and consolidate its competitive advantage in the intelligent NEV sector. Riding the powerful wave of global NEV expansion, the Company stands poised to rapidly capture market share, continuously broaden its growth horizons, and generate substantial value for investors—with long-term growth prospects that inspire considerable confidence.

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