SERES Automobile Co., Ltd. (Seres Auto), a subsidiary of the A-share listed company Seres Group Co., Ltd. (‘Seres Group’, stock code: 601127), recently completed a capital increase and received an RMB 5 billion strategic investment from nine investors including ICBC Financial Asset Investment Co., Ltd. and BOCOM Financial Asset Investment Co., Ltd. JunHe provided the investors with one-stop legal services for their strategic investment in Seres Auto, including transaction structuring, legal due diligence, the drafting and negotiation of the transaction documents, assistance in completing the required procedures for the state-owned asset transactions, and regulatory compliance consulting.
Seres Auto is engaged in the research and development, manufacturing, and sales of new energy vehicles, with models including the AITO Wenjie M9, M7 and M5 luxury new energy vehicles. Seres Group announced its intention to list on the main board of the Hong Kong Stock Exchange to expand its global strategic layout, create an international capital operation platform, and enhance its overall competitiveness.
The project had an extremely tight schedule and the target company's business and assets were complex. It involved multiple legal issues, including regulation in the new energy vehicle industry, state-owned assets supervision, and supervision over listed companies. With their outstanding project management, proactive communication, close teamwork, and extensive practical experience in large and complex investment and financing transactions, particularly in the new energy vehicle sector, JunHe provided investors with high-quality legal analysis and solutions. The pragmatic and professional work provided by the JunHe team received high recognition and praise from the investors and the target company.
The JunHe team was led by partners CUI, Jiakun (Kevin) and MA, Rui. Counsel MO, Junkai also participated in the project’s execution.