Gasgoo Munich- Seres Group Co., Ltd. announced late on February 8 that it has signed a cooperation agreement with the Chongqing Shapingba District People's Government to strategically restructure assets related to its Landian brand. The move marks a significant step for Seres as it sharpens its business focus and integrates resources.
Under the agreement, Seres will spin off its existing Landian assets to establish an independent target company. Subsequently, the Shapingba district government will spearhead the formation or introduction of a limited partnership—or fund—to join other external investors and the management team in injecting cash into the new entity.
Following the capital injection, the equity structure will shift significantly. The Shapingba district government will emerge as the single largest shareholder with approximately 33.5% of the stake, while Seres and its designated entities will hold around 32%.
Meanwhile, to incentivize the core team, the target company will establish an employee stock ownership platform expected to hold roughly 16% of the shares. The remaining equity will be held by other participating investors. This partnership effectively shifts control of the new entity from Seres to an investment consortium led by the Shapingba district government.
Image Source: Landian
Landian represents a key segment of Seres' new energy vehicle portfolio. Market observers view this restructuring—achieved through asset divestiture and capital expansion—as a strategic move by Seres to optimize its asset structure and concentrate superior resources on core operations, particularly its intelligent vehicle business under the AITO series.
For the Shapingba district, the initiative helps consolidate and expand its automotive industrial cluster while strengthening its footprint and influence in the new energy vehicle sector.
The announcement states the agreement aims to leverage the strengths of all parties to drive the sustainable development of the target company. Analysts suggest the move not only brings local government capital and resources to the Landian unit but also adds flexibility to Seres' future financial performance. Specific transaction details and the final impact on Seres' financial statements will be determined after the capital injection is completed and audit assessments are finalized.
