After CATL’s IPO spark, China’s EV leaders bank on Hong Kong for growth funds
China’s top smart mobility firms like Chery Auto, Seres Group and Hesai eye Hong Kong market to fund global expansion plans
More than a dozen smart mobility companies from mainland China are making a beeline to raise funds in Hong Kong, capitalising on the growing appetite among global investors for the country’s unpolished industrial gems.
“They gravitate to Hong Kong where international investors are actively hunting for China’s next industry leaders, those with the potential to grab a considerable share of the global market,” said Ding Haifeng, a consultant at Integrity, a Shanghai-based financial advisory firm.
Successful IPOs “would be an endorsement of Chinese EV makers and supply-chain vendors”, he added.
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Some of the candidates could launch jumbo deals, with proceeds exceeding US$1 billion each, Ding added, which could further strengthen Hong Kong’s leading position as the world’s busiest venue for IPOs this year.