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Huawei's electric vehicle partner Seres Group has begun sounding out investor interest for its planned Hong Kong new share sale, aiming to raise US$1.5 billion (HK$11.7 billion) to US$2 billion, Bloomberg News reported, citing people familiar with the matter.
The company of the luxury vehicle AITO brand completed a business registration amendment on Monday night, increasing its registered capital by around 8 percent to 1.63 billion yuan (HK$1.78 billion), according to a company data platform Tianyancha.
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The new energy car maker delivered 387,100 vehicles in 2024 of its AITO brand, representing a 268 percent year-on-year growth.
Last year, it swung to a net profit of 5.96 billion yuan, with revenue surging 305.5 percent year-on-year to 145.1 billion yuan.
The Shanghai-listed company’s shares rose 24 percent this year, with a market value of 273.8 billion yuan.