When does Siles go on the market?

Q: When does Siles go on the market?

Siles will open a public offering on October 27-October 31, and the company intends to offer approximately 0.1002 billion shares worldwide, with an initial subscription amount of HK$13282.62 and is expected to go public on November 5.

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Context Summary
Sears (HK09927) has sold approximately 0.1002 billion shares globally from October 27 to 31, with a purchase price of HK$13282.62, and is expected to be listed on November 5. The company is a technology company focused on New energy fund Cars, and the World Series models (M7 and M9) have experienced a strong market rebound, with revenues increasing by 305.5% to RMB 145.1 billion in 2024. Total net assets of HKD12.925 billion, about 70% will be used for development, 20% for marketing and overseas markets, and 10% of operating capital. Capital investors were strong enough to buy a total of US$0.826 billion.

Sears Listing | Company Profile

$SERES(09927.HK)$ The announcement was made that in the IPO on October 27-October 31, the company intends to offer approximately 0.1002 billion shares worldwide, with an initial subscription amount of HK$13282.62 and is expected to be listed on November 5.

Sears is a technology and technology-like enterprise with the New Energy Car Cars' core expertise in the development, manufacturing, sales and services of New Energy Cars and Core Trielectric products. With nearly four decades of Industry experience and operational excellence, the company has achieved many business milestones. In 1986, the company started its first venture from the Elastics and Damper Business and expanded to the Motorcycle Business In 2003, the company retired its own brand of car starters, and entered the car manufacturing sector with Dongfeng Cars. In 2016, the company switched to the New energy Fund Cars segment. In 2021, we asked for a new brand name, followed by the brand positioning of Smart Plastics and Luxury, and presented a series of models.

So far, the company has successfully launched the Query M5, Query M7, Query M8 and Query M9 four-car models. In other countries, the M5 launched the latest fastest growing number of new brand bikes in the market today, the M7 became the best-selling self-branded car in the Chinese market at $0.3 million, with a volume of about 0.2 million vehicles in 2024, the M9 became the champion of the Chinese market with a sales volume of 0.5 million in the Chinese market, the volume of payments in 2024 was 0.15 Automotive companies published in April 2025, M8, gained market tracking, reaching almost 0.03 million just 24 hours after the official listing Vehicle. According to a report by VfL Tessaly, the brand topped New energy Fund Cars with 82% of its NPS net recommended value in the next half of 2024, with total annual sales of 0.3871 million vehicles in question brands, an increase of 268% over the same period.

Siles Financial Profile

Celes' revenue increased by 305.5% from RMB35.8 billion in 2023 to RMB145.1 billion in 2024. Revenue from car sales increased by 314.0% from RMB33.6 billion in 2023 to RMB138.9 billion in 2024, mainly due to the New energy Fund Cars sales revenue increasing from RMB28.9 billion in 2023 to RMB135.5 billion in 2024.

Sailes City | Industry Overview

The global New energy Fund passenger car market is developing rapidly. Global New energy Fund passenger car sales increased from 6.2 million vehicles in 2021 to 17.1 million vehicles in 2024, with a compound growth of 40.2% over this period. New energy Fund passenger cars in the global passenger car market increased from 9.7% in 2021 to 23.0% in 2024. It is not expected that as the competition for new energy vehicles continues to grow steadily, global sales of new energy vehicles are expected to reach 42.3 million vehicles by 2030, with a combined growth rate of 16.3% from 2024 to 2030, with a projected increase to 47.0%.

In 2024, among the top 20 best-selling models in the China New energy Fund passenger car market, autonomous brands occupy the leading position, and 18 models in the top 20 in sales. In the high-end New energy Fund passenger car segment, the brand has shown strong competition, with 7 brands among the top 10 cars sold. AMONG THEM, THE M7 RANKS FIRST AMONG ALL STANDALONE HIGH-END BRAND MODELS.

SILES LISTED | CORNERSTONE INVESTORS

The cornerstone investor has agreed to subscribe or induce the relevant number of shares to be purchased at the offering price by its designated entity, subject to certain conditions, for a total amount of approximately US$0.826 billion (or approximately HK$6.421 billion). Based on the offer price of HK$131.50, the total number of shares subscribed for by the cornerstone investor will be 48.8287 million shares. Cornerstone investors include:

Chongqing Industrial Parent Funds, Lin-Yuen Funds and WTA Capital Investments (Related to WTA Backward Return Period and Yuanlin Chairman's Report Period), Broadcast Funds, New China Asset Management, Bess BroadwaySanhua (Hong Kong)(002050.SZ/2050.HK)Full ownership of assets in Hong Kong (002050.SZ/2050.HK) Full ownership of Zink International, Gold, through Zhink International, HK (00881.HK) Wings, Daan Investments, Hichain Logistics HK, Schroder, Mirae Securities, New Alternative(Yunfeng Capitallimited (Yunfeng Capital Limited), Total Ownership of Yunfeng Investments Limited, China Post Finance, Skyler International, Star Hong Kong (Free Stock Share (601799.sh) ), Midong Cars (01268.hk), Ghisallo Fund, Jump Trading, Jain Global Master Fund Ltd, China Alpha Fund.

Sears' Listed Funding Purposes

In terms of funding, Siles expects net proceeds from global sales to be approximately HK$12.925 billion (assuming overallotment options are not exercised at an offer price of HK$131.50). Pursuant to the prospectus, Siles intends to use the global raising funds for the following purposes:

Approximately 70.0% will be used for the company's R&D investment; approximately 20.0% will be spent on diversifying new marketing channels, overseas sales and charging network services to enhance the company's global brand awareness; and the remaining 10.0% will be used for working capital and general corporate purposes.