Gasgoo Daily: SERES plans to go public in Hong Kong in early November
With Gasgoo Daily, we will offer daily important automotive news in China. For those we have reported, the title of the piece will include a hyperlink, which will provide detailed information.
SERES plans to go public in Hong Kong in early November
On Oct. 27, Seres Group Co., Ltd. ("SERES") announced plans to launch a global offering of 100.2 million H-shares in Hong Kong, with an issue price capped at HK$131.50 per share. Trading is expected to commence on November 5, 2025, marking SERES' debut on the Hong Kong Stock Exchange and making it one of the few Chinese new energy vehicle (NEV) makers to achieve dual listings in both Shanghai and Hong Kong.
If the overallotment option is not exercised and the offer price is set at the maximum of HK$131.50 per share, SERES expects to raise net proceeds of approximately HK$12.93 billion from the global offering. The company plans to allocate around 70% of the proceeds to R&D, particularly in advancing its intelligent and EV technologies.
IM Motors to open presale for LS9 SUV on Nov. 4
On October 27, IM Motors announced that preorders for its new flagship SUV, the IM LS9, will officially open on November 4, with market launch scheduled for the fourth quarter of this year.
The large SUV, which made its debut earlier this year, will be equipped with a high-performance version of the brand's "Hengxing" (translating to "Stellar") super range-extended hybrid system and the next-generation "Agile Lizard" digital chassis platform.
The SUV can travel more than 450 km on battery power alone and offers a combined range exceeding 1,500 km.
Horizon Robotics recently announced a deepened collaboration with global automotive supplier ZF with the coPILOT driver-assistance system launched, capable of supporting city-level Navigate on Autopilot (NOA), for the Chinese market, according to a press release Horizon Robotics issued on October 27.
The system has already been designated for use by a major Chinese automaker and is scheduled to enter mass production in 2026.
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