10月27日，赛力斯开启港股招股，招股期持续至10月31日，计划于11月5日正式在港交所主板挂牌，上 市后将成为"A+H"两地上市的新能源车企。 新京报贝壳财经讯（记者王琳琳）10月30日，赛力斯发布第三季度报告。第三季度赛力斯营收为481.33 亿元，同比增长15.75%；归属于上市公司股东的净利润为23.71亿元，同比下降1.74%。前三季度赛力斯 营收为1105.34亿元，同比增长3.67%；归属于上市公司股东的净利润为53.12亿元，同比增长31.56%。 编辑 岳彩周 从销量来看，今年1-9月赛力斯新能源汽车累计销量达304629辆；其中，问界M9上市21个月累计交付突 破25万辆。 ...

Core Insights - The company reported a 15.75% year-on-year increase in Q3 revenue, reaching 48.13 billion yuan, while net profit slightly declined by 1.74% to 2.37 billion yuan [1][4] - Year-to-date, the company has achieved a robust net profit growth of over 30%, attributed to its commitment to a software-defined automotive technology strategy and a user-oriented market approach [1][2] Financial Performance - Q3 revenue was 48.13 billion yuan, up from 41.58 billion yuan in the same period last year, indicating strong market expansion and product sales [1][4] - Year-to-date revenue totaled 110.53 billion yuan, reflecting a 3.67% increase compared to the previous year [2] - Net profit for the first three quarters reached 5.31 billion yuan, a significant increase of 31.56% year-on-year [2] Profitability Metrics - Basic earnings per share rose from 2.67 yuan to 3.34 yuan, marking a 25.09% increase [2] - The gross margin improvement is attributed to the company's strategic focus on software-defined vehicles and diversified product offerings [2] Asset and Equity Growth - Total assets as of September 30, 2025, reached 1215.1 billion yuan, a 28.76% increase from the previous year [2] - Shareholder equity surged to 278.0 billion yuan, up 126.70% from 122.6 billion yuan at the end of the previous year, driven by asset purchases, minority shareholder investments, and retained earnings [2] Cash Flow and Liquidity - The net cash flow from operating activities for the first three quarters was 22.65 billion yuan, a 13.18% increase year-on-year [3] - The company's cash reserves amounted to 59.54 billion yuan, significantly up from 45.96 billion yuan at the beginning of the year [3]

Core Insights - The company reported a revenue of 48.133 billion yuan for Q3, representing a year-on-year growth of 15.75% [1] - The net profit for the same period was 2.371 billion yuan, showing a year-on-year decline of 1.74% [1] Financial Performance - Q3 revenue: 48.133 billion yuan, up 15.75% year-on-year [1] - Q3 net profit: 2.371 billion yuan, down 1.74% year-on-year [1]

问界产品矩阵完善 问界M9创50万级车型交付新纪录 （原标题：赛力斯前三季净利润53.12亿元 将成为首家"A+H"豪华新能源车企） 10月30日，赛力斯发布2025年三季报。报告显示，赛力斯前三季度实现营业收入1105.34亿元，归属于 上市公司股东的净利润53.12亿元，同比增长31.56%；今年1-9月赛力斯新能源汽车累计销量达304,629 辆。 截至目前，问界全系累计交付已突破80万辆。其中，问界M9上市21个月累计交付突破25万辆，创50万 级车型交付新纪录；问界M8累计交付突破10万辆，上市4个月蝉联40万级销量冠军；全新问界M7上市 36天交付突破2万辆，成为现象级热销车型。 根据杰兰路《2025年度上半年新能源汽车品牌健康度研究》显示，问界品牌荣膺2025年上半年品牌发展 信心指数第一名，问界M9以85.2分位列新能源车型净推荐值NPS总榜第一名。 技术创新驱动 行业迎来首家"A+H"豪华新能源车企 值得一提的是，赛力斯已于10月27日开启港股招股，计划于11月5日在港交所主板挂牌，上市后将成为 首家"A+H"两地上市的豪华新能源车企，为后续发展注入更多资本动能。 今年以来，问界加速产品迭代 ...

Core Insights - The company reported a net profit of 5.312 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 31.56% [1] - Total operating revenue for the same period reached 110.534 billion yuan [1] - Cumulative sales of the company's electric vehicles reached 304,629 units from January to September 2025 [1] - The AITO M9 model has achieved cumulative deliveries of over 250,000 units in 21 months, setting a new record for vehicles in the 500,000-unit category [1]

关于召开2025年第三季度业绩说明会的公告 证券代码：601127 证券简称：赛力斯 公告编号：2025-090 赛力斯集团股份有限公司 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2025 年 11 月 18 日（星期二）15:00-16:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/，下同） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 11 月 11 日(星期二)至 11 月 17 日(星期一)16:00 前 登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 601127@seres.cn 进行提问，公司将在说明会上对投资者普遍关注的问题进行回 答。 赛力斯集团股份有限公司（以下简称"公司"）已发布公司 2025 年第三季 度报告，为便于广大投资者更全面深入地了解公司的经营成果、财务状况，公司 计划于 2025 年 11 月 18 日 15:00- ...

Financial Performance - The company's operating revenue for Q3 2025 reached ¥48,132,697,948, representing a year-on-year increase of 15.75%[2] - Total profit for the quarter was ¥2,974,302,175.92, an increase of 31.29% compared to the same period last year[2] - Net profit attributable to shareholders was ¥2,371,465,278.71, showing a slight decrease of 1.74% year-on-year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥2,293,005,509.14, down by 1.39% from the previous year[2] - Total operating revenue for the first three quarters of 2025 reached ¥110.53 billion, a 3.6% increase from ¥106.63 billion in the same period of 2024[16] - Net profit for the first three quarters of 2025 was ¥5.64 billion, a significant increase of 65.5% compared to ¥3.41 billion in 2024[17] - The company reported a total comprehensive income of ¥5.65 billion, compared to ¥3.40 billion in the previous year, reflecting overall growth[17] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥121,505,895,204, reflecting a 28.76% increase from the end of the previous year[3] - The total liabilities as of September 30, 2025, were ¥92,779,603,266.84, compared to ¥82,458,401,238.54, indicating an increase of 12.5%[14] - As of September 30, 2025, the total current assets amounted to ¥76,552,966,126.52, an increase of 15.4% from ¥65,997,852,115.51 on December 31, 2024[12][13] - Total non-current assets increased to ¥44,952,929,077.78 from ¥28,366,106,807.38, representing a significant rise of 58.5%[13][14] - The company's equity attributable to shareholders increased by 126.70% to ¥27,802,566,185.32 compared to the end of the previous year[3] - The company's equity attributable to shareholders rose to ¥27,802,566,185.32 from ¥12,264,245,429.40, marking a substantial increase of 126.5%[14] Cash Flow - The company reported a net cash flow from operating activities of ¥22,649,447,024.50, an increase of 13.18% year-to-date[2] - Cash flow from operating activities generated ¥22.65 billion, an increase from ¥20.01 billion in the same period last year[18] - The net cash inflow from operating activities was ¥136.74 billion, an increase from ¥120.78 billion in the same period last year[18] - The ending cash and cash equivalents balance stood at approximately $26.68 billion, compared to $15.04 billion at the end of the previous period, showing robust liquidity[19] Investment Activities - Cash inflow from investment activities totaled approximately $40.1 billion, a significant increase from $6.65 billion in the previous period[19] - Net cash outflow from investment activities was approximately -$8.2 billion, compared to -$5.7 billion previously, indicating increased investment expenditures[19] - Cash received from investments was approximately $126.79 million, up from $63.96 million, indicating improved investment returns[19] - Cash paid for investments amounted to approximately $44.32 billion, a significant increase from $7.45 billion, reflecting aggressive investment strategies[19] Expenses and Profitability - The basic earnings per share for the quarter was ¥1.49, a decrease of 6.88% year-on-year[3] - Total operating costs increased to ¥104.45 billion, up from ¥102.94 billion, with sales expenses rising by 14.5% to ¥15.99 billion[16] - Basic earnings per share rose to ¥3.34, compared to ¥2.67 in the previous year, reflecting improved profitability[18] - Research and development expenses rose to ¥5.06 billion, compared to ¥4.37 billion, highlighting the company's commitment to innovation[16] - The company has seen an increase in gross profit margin compared to the same period last year, indicating improved profitability[6] Shareholder and Structural Changes - The company has not reported any significant changes in shareholder structure or related party transactions during the reporting period[11]

Market Overview - The passenger car sector experienced a decline of 0.46% on October 30, with Haima Automobile leading the drop [1] - The Shanghai Composite Index closed at 3986.9, down 0.73%, while the Shenzhen Component Index closed at 13532.13, down 1.16% [1] Individual Stock Performance - Beiqi Blue Valley (600733) closed at 8.35, down 0.97% with a trading volume of 1.33 million shares and a turnover of 1.1 billion [1] - SAIC Motor (600104) saw a slight increase of 0.36%, closing at 16.75 with a trading volume of 416,200 shares [1] - GAC Group (601238) closed at 7.76, down 0.26% with a trading volume of 298,000 shares [1] - Great Wall Motors (601633) closed at 22.71, down 0.26% with a trading volume of 163,100 shares [1] - XD Seres (601127) closed at 162.94, down 0.45% with a trading volume of 272,200 shares [1] - BYD (002594) closed at 103.61, down 0.87% with a trading volume of 359,000 shares [1] - Changan Automobile (000625) closed at 12.38, down 0.88% with a trading volume of 845,400 shares [1] - Chery Automobile (000572) closed at 6.00, down 1.80% with a trading volume of 1.26 million shares [1] Capital Flow Analysis - The passenger car sector saw a net outflow of 713 million yuan from main funds, while retail funds experienced a net inflow of 517 million yuan [1] - The following stocks had notable capital flows: - Beiqi Blue Valley: Main funds net inflow of 82.19 million yuan, retail net inflow of 6.06 million yuan [2] - SAIC Motor: Main funds net inflow of 48.37 million yuan, retail net outflow of 37.73 million yuan [2] - GAC Group: Main funds net inflow of 3.47 million yuan, retail net inflow of 1.92 million yuan [2] - Great Wall Motors: Main funds net outflow of 4.58 million yuan, retail net outflow of 1.58 million yuan [2] - Chery Automobile: Main funds net outflow of 71.47 million yuan, retail net inflow of 64.56 million yuan [2] - Changan Automobile: Main funds net outflow of 128 million yuan, retail net inflow of 1.33 million yuan [2] - XD Seres: Main funds net outflow of 230 million yuan, retail net inflow of 91.61 million yuan [2] - BYD: Main funds net outflow of 413 million yuan, retail net inflow of 26 million yuan [2]

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 出品：新浪财经上市公司研究院 作者：喜乐 赛力斯于10月27日启动全球发售，预计于11月3日定价，并于11月5日在港交所挂牌交易。本次发行最高价不超过131.50港元/股，基 础发行股数约1亿股，对应发行规模约131.8亿港元，若项目全额行使发售量调整权及超额配股权，则发行规模将达到174.3亿港元。 本项目有可能成为今年第三大港股IPO，也同时是2022年至今港股市场最大的整车厂IPO项目。然而超26%的罕见高折价，以及基石 投资者中外资长线基金集体缺席、依赖政府与产业资本"托底"的结构失衡。这些异常信号的背后，是其估值与业绩的严重背离、对 华为的深度依赖等深层风险，值得市场高度警惕。 港股发行价较A股折价或高达26.9% 远超过往大型A to H项目的"异常让利" 赛力斯本次发行的定价策略，与今年同类大型A to H项目形成鲜明反差。按照当前最高发售价131.50港元/股，较A股10月29日收盘价 163.99元/股折扣已达到了26.9%，远超可比项目水平。梳理2025年发行规模100亿港元以上的A to H项目可见，除恒瑞医药因符 ...

Core Viewpoint - The company, Seres Group, has officially launched its IPO process in Hong Kong, aiming to become the largest car company IPO in the region by 2025 if successful [1][6]. Group 1: IPO Details - The IPO will last until October 31, with shares expected to be listed on November 5 under the stock code "9927" [1]. - Seres plans to issue 100.2 million H-shares, with 10.02 million shares available for public sale in Hong Kong and approximately 90.18 million for international sale [3][5]. - The estimated net proceeds from the IPO, assuming the maximum share price of HKD 131.50, would be approximately HKD 12.9249 billion [3]. Group 2: Use of Proceeds - About 70% of the funds raised will be allocated to research and development, 20% for diversifying marketing channels and enhancing global brand recognition, and 10% for working capital and general corporate purposes [3][10]. - The company plans to establish 100 experience centers in Europe and the Middle East by 2026 and collaborate with Huawei to build a supercharging network covering 80% of major international highways [3]. Group 3: Financial Performance - For the first half of the year, Seres reported revenue of CNY 62.359 billion, with a gross profit of CNY 16.531 billion and a gross margin of 26.5% [10]. - The company’s revenue for 2022, 2023, and projected figures for 2024 and the first half of 2025 are CNY 34.056 billion, CNY 35.789 billion, CNY 145.114 billion, and CNY 62.358 billion respectively [10][16]. Group 4: Brand and Market Position - The company has launched four models under the "Wenjie" brand, with projected total deliveries of 387,100 units in 2024, representing a year-on-year increase of 268% [7][12]. - The partnership with Huawei has significantly enhanced Seres' brand image and market performance, with sales from the Wenjie brand accounting for 90.3% of total revenue by the first half of 2025 [14][17]. Group 5: Competitive Landscape - As Huawei expands its partnerships with other automakers, the unique advantages of the Wenjie brand may diminish, leading to increased competition within the Huawei ecosystem [17]. - Seres has also engaged in strategic investments, including a CNY 5 billion capital increase and a 10% stake acquisition in Huawei's subsidiary, indicating active capital management [17].