Chongqing Sokon Industry Group Stock (09927) raised 14 billion Hong Kong dollars in its Hong Kong Stock Exchange listing today, making it the "first A+H luxury new energy vehicle company".

On November 5th, Chongqing Sokon Industry Group Stock (09927) was officially listed on the Main Board of the Hong Kong Stock Exchange. This move signifies Chongqing Sokon Industry Group Stock as the first domestic luxury new energy vehicle enterprise to be dual-listed in both the A-share and H-share markets. The net proceeds of this fundraising amounted to 14.016 billion Hong Kong dollars, making it the largest IPO of a Chinese automotive company to date and the largest automotive company IPO globally since 2025. The successful listing on the Hong Kong stock market not only opens up a new international financing platform to provide long-term development momentum for the company, but also lays a solid foundation for its future global strategic layout. It will also provide a new paradigm of "technology + capital" dual-drive for Chinese automotive companies to go international. The dual capital platform of "A+H" empowers and accelerates the global strategic layout Since the launch of the Hong Kong stock IPO on October 27th, Chongqing Sokon Industry Group Stock quickly ignited market enthusiasm, with continued high subscription rates. The public offering of Chongqing Sokon Industry Group Stock in Hong Kong was oversubscribed by 133 times, with a financing subscription exceeding 170 billion Hong Kong dollars. Approximately 70% of the proceeds from this Hong Kong IPO will be used for R&D investment, around 20% for diversified new marketing channels, overseas sales, and charging network services. Of particular note is that this issuance attracted 22 cornerstone investors including funds like Chongqing Industrial Mother Fund, Linyuan Fund, Guangfa Fund, Schroders global, ChinaPost Financial, and Xingyu Hong Kong, which demonstrates the deep recognition of the capital market for the high-quality development and high-growth value of Chongqing Sokon Industry Group Stock. This will help drive the restructuring of the company's valuation system, establish new investment value anchors, and further enhance its financing capabilities and capital operation efficiency. As a representative of the high-end camp of Chinese automotive industry, Shanxi Guoxin Energy Corporation, Chongqing Sokon Industry Group Stock has already expanded its global footprint to cover multiple countries in Europe, the Middle East, the Americas, and Africa. In particular, the European market has successfully expanded to key regions such as Norway, Germany, the UK, and Switzerland, marking the preliminary landing of its global layout. In the future, with the empowerment of the dual capital platform of "A+H," Chongqing Sokon Industry Group Stock will continue to drive technological innovation, enhance brand value, and expand its global market. Anchoring high-end intelligent electric vehicles and continuously forging a technological innovation moat As a technology and science enterprise with new energy vehicles as its core business, Chongqing Sokon Industry Group Stock has always anchored itself in the mainstream of high-end intelligent electric vehicles. In 2016, it began a comprehensive transformation into the field of new energy vehicles, and in 2021, it crossed boundaries to cooperate with Huawei in launching the Wenjie brand, establishing a brand positioning of smart luxury. Up to now, the Wenjie brand has launched four models: Wenjie M9, Wenjie M8, Wenjie M7, and Wenjie M5, all of which have been well-received by the market and users, with the Wenjie series having delivered over 800,000 vehicles in total. Chongqing Sokon Industry Group Stock insists on software-defined cars, deepens technological innovation, bases its foundation on safety, reshapes luxury with intelligence, and resolutely embarks on the path of high-quality development. With high levels of research and development investment, the company has successively launched innovative technological achievements such as the Chongqing Sokon Industry Group Stock Magic Cube technology platform, Chongqing Sokon Industry Group Stock super range extension, and Chongqing Sokon Industry Group Stock intelligent security, constructing a solid technological moat. Furthermore, Chongqing Sokon Industry Group Stock collaborates with top domestic universities and technology companies to explore emerging fields such as embodied intelligence, actively leveraging its foundation and innovative advantages in the manufacturing and industrial brain sectors to promote the industrial application of artificial intelligence, realizing AI + embodied intelligence with emotion, increased intelligence, safety, reliability, and trustworthiness in mobile intelligent bodies and life partners. In the future, Chongqing Sokon Industry Group Stock will continue to adhere to technology innovation as its engine, user demand as its guide, and the global market as its stage, further expanding its leading edge on the luxury new energy track and leading the Chinese automotive industry into a new stage of higher quality development.