UNICEF and fellow partners of the Global Polio Eradication Initiative held a gathering on World Polio Day on October 24, 2025, near the ruins of the smallpox hospital and the FDR Hope Memorial on Roosevelt Island. Pictured here are speakers at…
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Mainland EV maker Seres raises $1.8 billion in HKSAR listing
This photo shows the automated production at the Seres Super Factory in Liangjiang New Area, Southwest China’s Chongqing, Sept 19, 2025. (PHOTO / XINHUA) Electric-vehicle maker Seres Group Co raised HK$14.3 billion ($1.8 billion) after pricing its Hong Kong listing at the upper limit it had set and exercising an option to increase its deal size.
The Chongqing-based company, an EV partner of Huawei Technologies Co, sold about 108.6 million shares at HK$131.50 each, according to a statement Sunday. That includes 8.4 million additional shares that expanded the offering by about 8.4 percent.
The listing price reflects a 22 percent discount to the 155.19 yuan ($21.8) closing price on Friday in Shanghai, where Seres’ stock already trades.
Seres’ Hong Kong-listed shares are due to start trading on Wednesday.
The deal is Hong Kong’s eighth listing this year that raised more than $1 billion. Listing proceeds in the city have already topped the $26 billion Bloomberg Intelligence had forecast for 2025.
READ MORE: Huawei’s EV partner Seres said to gauge interest for $2b listing in HKSAR
Founded in 1986, the company initially produced springs and shock absorbers before expanding into motorcycles and later to EVs. The partnership with Huawei has been a boon for Seres, which is expected to see profits surge 72 percent to a record 10.2 billion yuan this year, according to the average analyst estimate compiled by Bloomberg.
China International Capital Corp and China Galaxy Securities Co are joint sponsors of the Seres listing.
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5 things to know as Trump threatens military action in Nigeria
ABUJA, Nigeria (AP) — The U.S. cannot unilaterally carry out any military operation in Nigeria over its claims of Christian persecution in the West African country, a Nigerian presidential spokesman told…
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Canva launches creative OS to supercharge global creativity
Canva, the world’s leading all-in-one visual communication platform, has unveiled its Creative Operating System (Creative OS) — a groundbreaking evolution designed to unify the entire creative process, from concept to performance…
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Scientists achieve forensics’ “Holy Grail” by recovering fingerprints from fired bullets
Two Irish scientists have created a groundbreaking method for recovering fingerprints from fired bullet casings — something long believed to be impossible.
Dr. Eithne Dempsey and her former PhD student, Dr. Colm McKeever, from the Department of…
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Scientists achieve forensics’ “Holy Grail” by recovering fingerprints from fired bullets
Two Irish scientists have created a groundbreaking method for recovering fingerprints from fired bullet casings — something long believed to be impossible.
Dr. Eithne Dempsey and her former PhD student, Dr. Colm McKeever, from the Department of…
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Meet the new director of Spikes Asia | Advertising
With Spikes Asia now open for submissions for its 2026 Awards, Campaign Asia-Pacific caught up with Spikes’ new director, Melanie Speet to learn more about her, the new priorities for Spikes and how it’s…
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Why do giraffes have such long legs? Animal simulations reveal a suprising answer
If you’ve ever wondered why the giraffe has such a long neck, the answer seems clear: it lets them reach succulent leaves atop tall acacia trees in Africa.
Only giraffes have direct access to those leaves, while smaller mammals must…
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Ireland’s manufacturing sector reports marginal upturn in conditions
(Alliance News) – Ireland’s manufacturing sector conditions improved only slightly in October as output stagnated amid subdued demand, S&P Global reported Monday.
The AIB Ireland manufacturing purchasing managers’ index fell to 50.9 in October, down from 51.8 in September.
A reading above the 50.0 neutral mark indicates an overall increase in business activity from the previous month, while a reading below signals a contraction.
The latest figure marked the weakest improvement in the manufacturing sector since the current period of expansion began in January, with S&P Global reporting a decline across all five PMI sub-components.
David McNamara, AIB chief economist, said: “The modest improvement in manufacturing conditions in October was driven by gains in new orders and employment, while output growth stalled and inventories decreased more quickly.
“Output stagnated in October, with respondents citing subdued demand conditions. This was also reflected in the continued fall in export orders, albeit total new orders continued to expand at a marginal pace. Respondents cited weakness in European export markets as the key driver of the fall in export orders.”
Input cost inflation decelerated to the lowest level seen in 17 months as raw material prices fell.
Meanwhile, despite employment growth continuing for the eleventh month in a row, some firms noted staff shortages and faced difficulties when finding candidates with sufficient skills.
S&P Global revealed that manufacturers are confident that production will increase in the next 12 months, with 45% of survey respondents foreseeing an expansion in output, with only 9% expecting a decline.
“That said, the overall degree of optimism was the lowest recorded since July. New product launches and entry into new overseas markets were cited as growth drivers over the year ahead, while some firms also commented on hopes of a turnaround in sluggish global economic conditions,” S&P Global said.
S&P Global compiles the PMI each month using survey responses from a panel of around 250 manufacturers.
By Elijah Dale, Alliance News senior reporter Asia-Pacific
Comments and questions to newsroom@alliancenews.com
Copyright 2025 Alliance News Ltd. All Rights Reserved.
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