Seres Group Co., the Chinese electric vehicle maker backed by Huawei Technologies, is gauging investor interest for a Hong Kong listing expected to raise between $1.5bn and $2bn, according to people familiar with the matter cited by Bloomberg.

The Chongqing-based company is meeting investors this week, with deal terms still under discussion. China International Capital Corp. and China Galaxy Securities are acting as joint sponsors for the offering.

Seres is among a growing number of Chinese companies returning to Hong Kong’s capital markets. Bloomberg Intelligence projects total IPO proceeds in the city to exceed $26bn in 2025, the highest in four years.

The deal will test investor appetite for Chinese equities as geopolitical tensions between Washington and Beijing continue to weigh on sentiment.

Seres, which is already listed on the Shanghai Stock Exchange, has seen its shares rise about 20% this year, outperforming the CSI 300 Index. The company posted a net profit of 2.9bn yuan ($406m) for the first half of 2025, up 81% from a year earlier, supported by strong EV demand.

Founded in 1986, Seres initially produced springs and motorcycle components before expanding into the electric vehicle market. Its partnership with Huawei has positioned it as one of China’s key players in the fast-growing smart EV segment.

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