Seres shares surged 11.3% in Hong Kong.

Huawei and Seres have signed a new 5-year cooperation agreement to jointly upgrade the Aito business, deepening their partnership about 2 weeks after announcing a shift in control of the brand's operations.

Huawei's HIMA (Harmony Intelligent Mobility Alliance) announced the arrangement on Thursday. The signing ceremony took place on September 30 in Shenzhen, where Huawei is headquartered.

Huawei executive director and consumer business group chairman Richard Yu attended the ceremony alongside Seres founder and chairman Zhang Xinghai.

The companies said they would jointly establish a dedicated Aito team, improve customer service through dedicated operations for the brand, and continue to strengthen its positioning as a premium smart vehicle brand. Aito's user base has surpassed 1.2 million, according to the announcement.