Seres Group Co., in partnership with Huawei Technologies in the electric vehicle sector, is reportedly mulling a secondary listing in Hong Kong.

Sources familiar with the situation say the Chongqing-based company is exploring this move with potential advisers, aiming to raise over US$1 billion, possibly as early as next year.

The shares of Seres, presently listed in Shanghai, have increased by 80% this year.

In October, Seres announced an investment of 11.5 billion yuan (US$1.58 billion) in a Huawei-owned intelligent vehicle equipment manufacturer.