Chinese smart mobility companies are preparing for initial public offerings (IPOs) in Hong Kong to attract global investors interested in the automotive and technology sectors.

Among these companies are Chery Automobile, Seres Group, and Pony.ai, which aim to raise significant funds for expanding their global presence.

Hong Kong has established itself as a major IPO hub, with over 150 companies in the listing pipeline, according to Bonnie Chan Yiting, CEO of Hong Kong Exchanges and Clearing (HKEX).

Notably, battery maker Contemporary Amperex Technology (CATL) raised HK$41 billion (US$5.2 billion) in May 2025.

This marked this year’s largest IPO globally.

State-controlled Chery Automobile intends to raise at least US$1.5 billion to expand its offerings in Europe and Asia.

Seres Group, in partnership with Huawei Technologies, plans to enhance its overseas sales and charging infrastructure, according to its filing.

Hesai Group, an autonomous driving tech firm, has also filed confidentially for a Hong Kong listing.

Analysts believe these IPOs could further strengthen China’s position in the electric vehicle and smart mobility industries.

🔗 Source: South China Morning Post

🧠 Food for thought

1️⃣ Geopolitical tensions reshaping Chinese tech fundraising landscapes

The shift of Chinese tech companies toward Hong Kong IPOs reflects a broader adaptation to changing global investment patterns amid US-China tensions.

Chinese companies previously favored US exchanges, raising approximately $9 billion through IPOs in 2018, but many of these listings subsequently experienced a 13% average decline in value1.

NIO’s experience illustrates this pattern. While it raised $1 billion on the NYSE in 2018, it faced significant market skepticism and priced at the lower end of its expected range despite ambitious goals2.

Recent data shows China actively working to stabilize foreign investment amid declining FDI, which fell 13.4% in January 2025 following a 27.1% drop in 20243.