MeiDong Auto makes strategic $20m cornerstone investment in Seres

China MeiDong Auto Holdings Limited has entered into a cornerstone investment agreement with Seres and CICC on October 23, 2025. Under this agreement, the company will subscribe for Seres H shares with an aggregate investment amount of $20,000,000, exclusive of brokerage and levies. This investment will be funded through the group's internal resources, bank borrowings, and/or shareholder's loan.

The investment constitutes a discloseable transaction for MeiDong Auto, as the highest percentage ratio exceeds 5% but is less than 25% under the listing rules. The company's directors believe this investment holds strategic importance, offering diversification of the group's income sources and potential sustainable investment returns for shareholders.

Seres Group Co., Ltd. is a technology company specializing in new energy vehicles, including R&D, manufacturing, sales, and services. Seres' financial performance indicates a shift from a loss of RMB4,156,716 in 2023 to a profit of RMB3,077,363 for the six months ended June 30, 2025, alongside growing total assets reaching RMB112,911,810 by June 30, 2025.