China Auto Daily丨 Seres Eyeing Hong Kong Listing, Potential $1 Billion Raise

Seres Considers Hong Kong Listing to Raise Over $1 Billion

On December 12th, media reports revealed that Seres is contemplating a listing on the Hong Kong Stock Exchange, aimed at raising over $1 billion. This move comes as Seres shares have risen by 80% on the A-shares market this year, resulting in a market value of $28.5 billion. Insiders disclosed that discussions with advisors are ongoing, with the possibility of launching the listing as early as next year. While the size of the offering may still change.

Avatr and Huawei to Deepen cooperation on New Vehicle Models

Avatr and Huawei have solidified their partnership by signing a comprehensive deepening strategic cooperation agreement. This alliance will see the two companies collaborate on creating new vehicle models based on advanced architecture and technologies. The cooperative effort spans product development, marketing strategies, and ecological services.

NIO Forecasts Sales Doubling to Over 400,000 Units Next Year

NIO’s Chairman, William Li, revealed on December 12th that the company is poised to double its sales next year, projecting over 400,000 units. Li explained that NIO will market three distinct brands, with the Onvo brand capable of delivering 20,000 vehicles monthly. In addition, the Firefly brand is expected to contribute several thousand units per month. Growth across the NIO brand itself will support this ambitious target. This forecast reflects NIO's robust market strategy and optimistic outlook for the coming year.

Largest Car RORO Terminal on the Yangtze River Begins Operations in Suzhou

The Haitong Taicang Automobile Terminal, the largest car and roll-on/roll-off (RORO) terminal on the Yangtze River, officially commenced production operations on December 12th in Suzhou. On its inaugural day, the terminal successfully loaded over 3,300 vehicles onto three RORO ships bound for Mexico, Peru, South Korea, and Guatemala.

Spanning a 708-meter shoreline, the terminal can accommodate two 70,000-ton foreign trade RORO ships and one 3,000-ton domestic trade RORO ship simultaneously. Covering 860,000 square meters, the terminal has a parking capacity for 32,000 vehicles and is designed to handle an annual vehicle throughput of 1.3 million units. From January to November, Taicang Customs supervised the export of 437,300 vehicles via Taicang port, marking a 19.8% year-on-year increase, with 141,500 being new energy vehicles.