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Seres Sets Caps for Daily Related-Party Transactions with Affiliate; Hong Kong Shares Rise 3%

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Seres (HKG:9927, SHA:601127) will set a budget for daily related-party transactions with Chongqing Saidou Technology, accoridng to a Thursday filing with the Shanghai bourse.

The listed company will set a budget of 1.30 billion yuan for sales of goods and services, 500 million yuan for purchases of goods and services, 15 million yuan for property and equipment leases, and 80 million yuan for rents.

Seres holds about 32.96% of Chongqing Saidou Technology while Chongqing Shaci Zhiyuan New Energy Technology Partnership holds 34.5%.

Shares in the vehicle maker rose 3% in Hong Kong during the midday break on Thursday.

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