Fund Raising

FAW acquired a 5 percent stake in Leapmotor, marking a rare instance of a Chinese state-owned automaker investing in a NEV startup.

Mirattery completed a Series C financing of nearly RMB 1 billion ($140 million), an expansion from the RMB 670 million announced in November.

Deepal has brought in two new shareholders through this financing round, securing resources for its expansion.

Momenta has confidentially filed for a Hong Kong IPO, abandoning plans for a New York listing, according to Reuters.

Avatr is an EV brand jointly established by Changan, Huawei, and CATL, originally named Changan Nio.

As of press time, Seres was down 4.79 percent in Hong Kong morning trading, with a market capitalization of HK$217 billion ($27.9 billion).

Beyond additional investment from founding shareholders, Mirattery has brought in two state-owned enterprises as shareholders.

Seres priced its Hong Kong stock offering at HK$131.50 per share, the upper end of its range.

Seres submitted its application for a Hong Kong listing in April, aiming to advance its global expansion and establish an international capital operation platform.

Following the funding, CAIT-SH is valued at over RMB 10 billion, becoming the first unicorn in the skateboard chassis sector.