Seres Group Co, maker of China’s best-selling luxury vehicle, fell on its Hong Kong Special Administrative Region trading debut after raising HK$14.3 billion ($1.8 billion) during its public offering and adding to the city’s banner year for new listings.
The electric vehicle partner of Huawei Technologies Co declined 2 percent to HK$128.90 a share on Wednesday amid a down day globally for stocks. During the listing, the stock was priced at the high end of the marketed range. But at HK$131.50 each, it’s a 22 percent discount to Seres’ last close in Shanghai.
Though Seres, which has been listed in Shanghai since 2016, has underperformed the local benchmark this year , the stock has surged almost 1,600 percent in the past five years.
“Seres has achieved success through its Aito brand in partnership with Huawei,” said Eugene Hsiao, head of China equity strategy at Macquarie Capital Ltd. “Investors looking for a premium auto proxy may be interested in the shares.” Founded in 1986 as a producer of springs and shock absorbers, the company gradually climbed its way up the value chain, expanding into motorcycles, minivans and now, electric vehicles.
Source: China Daily by Bloomberg Published: 20:43, November 4, 2025
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