SERES(SH:601127) Nan Fang Du Shi Bao·2025-04-30 14:54Core Viewpoint - The company, Seres Group, is rapidly advancing its IPO process in Hong Kong, having submitted its application within a month of announcing its intentions, driven by significant growth in its business and market performance [1][3]. Financial Performance - Seres achieved a record financial year in 2024, turning a profit with a revenue increase of 305% from 2023, reaching 145.1 billion yuan [4][5]. - The company reported a total delivery of 387,100 units for its Wanjie brand in 2024, a year-on-year increase of 268%, with the Wanjie M7 and M9 becoming top-selling models in their respective price segments [3][5]. Market Strategy - The company aims to expand its global presence, with plans to use 20% of the IPO proceeds for marketing, overseas sales, and charging network services [6]. - Seres is focusing on enhancing its product offerings and technological capabilities, with a significant increase in R&D investment, planning to allocate 70% of the IPO proceeds to R&D [7]. Recent Challenges and Opportunities - Despite a 45% decline in total sales in Q1 2025, the company reported a 240% increase in net profit, attributed to product structure optimization and increased sales margins [8]. - The newly launched Wanjie M8 has received strong market interest, with over 60,000 pre-orders within days of its release, indicating potential for recovery in sales [8]. Market Confidence - The company's market capitalization remains above 200 billion yuan, reflecting investor confidence, and it has been included in major A-share indices, further solidifying its market influence [9].