On this very day (November 5, 2025), SERES made its official debut on the Hong Kong Stock Exchange, bearing the stock code '9927'. It has the distinction of being the inaugural luxury new - energy vehicle manufacturer to achieve a listing on both the 'A+H' markets. Nevertheless, its initial trading day performance left much to be desired. The stock opened with a 1.98% drop, and at one stage during the day, the intra - day decline surpassed 10%. This was in stark contrast to the prior fervor in the market regarding its subscription. Earlier, SERES's Hong Kong share offering witnessed an overwhelming response, being oversubscribed by a whopping 133 times. The financing subscriptions soared past HK$170 billion. On this occasion, SERES managed to raise a net sum of HK$14.016 billion. This not only represents the largest initial public offering (IPO) for a Chinese automaker to date but also stands as the most significant automotive company IPO on the Hong Kong stock market since 2025.