Seres Group Plans to Introduce Chongqing State Assets, Acquiring 100% Equity in AITO Automotive Factory Service Provider

On April 30th, Seres Group Co., Ltd. revealed plans for Chongqing State-owned Assets to become a significant investor in the company. The Group intends to issue shares to acquire 100% equity of Chongqing Liangjiang New Area Longsheng New Energy Technology Co., Ltd. This equity is currently held by Chongqing Industrial Investment Mother Fund Partnership (Limited Partnership), Chongqing Liangjiang New Area Development Investment Group Co., Ltd., and Chongqing Liangjiang New Area Industrial Development Group Co., Ltd. Upon completion of this transaction, Longsheng New Energy will become a wholly-owned subsidiary of Seres Group Co., Ltd.

Seres Group believes this move will optimize the company’s governance structure and underscore the crucial support state-owned capital provides to new energy vehicle enterprises in Chongqing. It also aims to enhance the listed company’s leading role and establish a strong foundation for future supply chain optimization and industrial resource synergy.

Chongqing Liangjiang New Area Longsheng New Energy Technology Co., Ltd., founded in 2022, primarily offers productive leasing services for new energy vehicle factories. As of the pre-plan signing date, Longsheng New Energy’s main asset is a super factory, predominantly used for producing new energy vehicle products like the AITO Wenjie M9 series.

SEE ALSO: Xiaohongshu Denies Reports of $20 Billion Pre-IPO Financing Round