Gate News message, April 22 — SERES Automotive announced its board approved a capital increase plan for its subsidiary Blue Electric Technology on April 22. The subsidiary, established with SERES’ legacy assets from its Wuhan operation, will increase its registered capital by 680 million yuan, bringing total registered capital to approximately 3.88 billion yuan. The company will not exercise preemptive rights over the new shares, with total capital injection not exceeding 7.2 billion yuan.
The capital increase involves SERES’ equity stake being diluted from its current level to 32% upon full completion. The subsidiary was formed following a cooperation agreement signed in February 2026 between SERES and Chongqing’s Shapingba District, under which a government-backed market-oriented equity investment fund and other investors will provide cash for the expansion.
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