SERES(SH:601127) Nan Fang Du Shi Bao·2025-04-01 13:22Core Viewpoint - Company achieved record-breaking revenue and profit in 2024, with revenue increasing over threefold year-on-year and net profit turning from loss to profit [1][3][5]. Financial Performance - In 2024, the company reported total revenue of 145.18 billion yuan, a year-on-year increase of 305.04% [3][4]. - The net profit attributable to shareholders reached 5.95 billion yuan, marking a significant turnaround from a loss of 3.83 billion yuan in the previous year [4][5]. - The company’s cash flow from operating activities improved significantly, totaling 22.52 billion yuan, up 251.93% year-on-year [5][6]. - The asset-liability ratio stood at 87.38%, which is relatively high compared to peers like BYD at 74.64% and Li Auto at 56.07% [5][6]. Sales and Market Position - The company sold 426,900 new energy vehicles in 2024, representing a year-on-year growth of 182.84% [3][4]. - The new energy vehicle segment accounted for over 93% of total revenue, with a gross margin of 26.21%, significantly higher than traditional fuel vehicles [4][5]. Research and Development - The company increased its R&D personnel to 6,201, a year-on-year growth of 25.15%, and R&D investment reached 7.05 billion yuan, up 58.9% [7][8]. - The company is focusing on technological innovation in smart extended-range electric vehicles, smart assisted driving, and green manufacturing [8]. Strategic Partnerships - The company completed the transfer of shares to Huawei, enhancing collaboration in smart cockpit, smart driving, and smart vehicle control [9].