Latest news with #SeresGroup
Bloomberg
5 days ago
- Automotive
- Bloomberg
China's Carmakers Fall Short on Pledge to Pay Suppliers Faster
Just three of China's major automakers have met a pledge to pay suppliers within 60 days, underscoring the challenges of maintaining cash flow and overhauling business practices prompted by a long-running price war. State-owned manufacturers China FAW Group Co. and Guangzhou Automobile Group Co., as well as Chongqing-based Seres Group Co., have implemented a 60-day turnaround for their bills, according to a report by state broadcaster CCTV on Monday. GAC has made 95% of its payments in cash, it said.
Bloomberg
19-06-2025
- Business
- Bloomberg
What China's Listing Frenzy in Hong Kong Means for Investors
Chinese companies are lining up in droves to list on the Hong Kong stock exchange, sparking a frenzy in a market that has been forsaken by investors and companies for many years. In May, the world's largest battery maker, Contemporary Amperex Technology Co. Ltd., debuted on the Hong Kong Stock Exchange with a HK$41 billion (US$5.2 billion) listing that has been the biggest deal of its kind so far in 2025. It's paving the way for the likes of luxury carmaker Seres Group Co., energy drink heavyweight Eastroc Beverage Group Co., robotics firm Estun Automation Co. and other Chinese companies to list in Hong Kong this year.
South China Morning Post
05-06-2025
- Automotive
- South China Morning Post
After CATL's IPO spark, China's EV leaders bank on Hong Kong for growth funds
More than a dozen smart mobility companies from mainland China are making a beeline to raise funds in Hong Kong, capitalising on the growing appetite among global investors for the country's unpolished industrial gems. Advertisement The prospective initial public offerings (IPOs) from electric vehicle (EV) assemblers like Chery Automobile and Seres Group to autonomous driving technology providers such as are expected to enhance China's leading automotive technologies on the global stage, bankers and analysts said. 'They gravitate to Hong Kong where international investors are actively hunting for China's next industry leaders, those with the potential to grab a considerable share of the global market,' said Ding Haifeng, a consultant at Integrity, a Shanghai-based financial advisory firm. Successful IPOs 'would be an endorsement of Chinese EV makers and supply-chain vendors', he added. 03:30 Global carmakers cede world's largest auto show to Chinese EVs Global carmakers cede world's largest auto show to Chinese EVs Some of the candidates could launch jumbo deals, with proceeds exceeding US$1 billion each, Ding added, which could further strengthen Hong Kong's leading position as the world's busiest venue for IPOs this year. Advertisement
Bloomberg
19-05-2025
- Automotive
- Bloomberg
China's Luxury Car Brand That's Come From Behind to Overtake BMW
In under four years, Seres Group Co., a small Chinese automaker once best known for its 30,000 yuan ($4,200) minivans, has beaten luxury legacy names like BMW and Mercedes to become the nation's hottest high-end car seller. Formerly called DFSK Motor, Seres partnered with telecommunications giant Huawei Technologies Co. back in 2021 to launch the Aito brand of premium electric and hybrid sport utility vehicles. Since then, Seres has had a dizzying rise. Sales tripled in three years to around 427,000 vehicles in 2024, while the company's Shanghai-listed stock is up 120%.
South China Morning Post
28-04-2025
- Automotive
- South China Morning Post
Seres, Huawei's carmaking partner, plans Hong Kong listing to fund global expansion
Seres Group , the carmaking partner of Huawei Technologies, has submitted an application to list its shares in Hong Kong. Advertisement The Chongqing-based company, which builds Aito-branded intelligent electric vehicles (EVs), said in a filing to the Hong Kong stock exchange on Monday that it would use the proceeds from the share sale to diversify its sales channels, bolster deliveries to overseas customers, expand its charging network and enhance global brand awareness. The company did not specify the amount it plans to raise. The Shanghai-listed company was valued at 208 billion yuan (US$28.5 billion) on Monday after its shares slid 1.4 per cent to 127.25 yuan. Seres will be the latest mainland Chinese EV company to tap the Hong Kong market as competition in the domestic market intensifies. 'In the future, we will probably face more new rivals in the EV market, and competition is set to get fiercer,' it said. Seres and Huawei jointly produce Aito-branded electric vehicles. Photo: Shutterstock Supported by Huawei's autonomous driving and digital cockpit technologies, Aito has reported surging deliveries over the past three years. In 2024, the company delivered 387,100 vehicles to mainland customers, up 268 per cent from a year earlier. Advertisement
