Seres Group revises project investments, extends timelines, updates governance

China International Capital Corporation Limited has issued a verification opinion on Seres Group Company Limited's (SSE:601127) adjustments to its fundraising projects. The "Factory Intelligent Upgrade and Electric Drive Production Line Construction Project" is concluded, with remaining funds of CNY 19,462,000 to be reallocated to the "Electrified Vehicle Development and Product Platform Technology Upgrade Project." The completion date for the "Electrified Vehicle Development and Product Platform Technology Upgrade Project" and the "User Center Construction Project" has been extended to December 2027.

These adjustments follow the company's listing of 108,619,000 H-shares on the Hong Kong Stock Exchange on November 5, 2025, increasing its registered capital from CNY 1,633,366,086 to CNY 1,741,985,086. The board also approved a new set of related-party transactions for 2026 and appointed Deloitte Huayong and Deloitte Hong Kong as the domestic and overseas auditors for 2025, replacing DaXing.

Mr. You Zheng has resigned as a non-executive director due to work adjustments, effective December 12, 2025. Yang Yanbo has been nominated as a new non-executive director. These resolutions were passed during the company's 28th meeting of the Fifth Board of Directors on December 12, 2025.