问界M8+M9持续发力，赛力斯5月新能源车卖了近4万台

Core Viewpoint - The sales and production of Seres (601127.SH) have shown a recovery in May, driven by the stable performance of the AITO M8 and M9 models, although year-to-date figures indicate a decline compared to the previous year [2][7]. Production Summary - In May, Seres produced 40,499 new energy vehicles, a year-on-year increase of 9%, with a cumulative production of 131,007 vehicles for the year, reflecting an 18.57% decline year-on-year [2][5]. - The production of Seres vehicles (including AITO) reached 37,475 units in May, up 5.76% year-on-year, with a cumulative production of 113,682 units, down 21.97% year-on-year [2][5]. Sales Summary - In May, Seres sold 39,982 new energy vehicles, marking a 17.15% increase year-on-year, with a cumulative sales figure of 126,022 vehicles for the year, which is nearly a 20% decline year-on-year [2][5]. - The sales of Seres vehicles (including AITO) returned to the 30,000-unit level, reaching 36,450 units, a month-on-month increase of 33% and a year-on-year increase of 13.19%. However, the cumulative sales for the year stand at 108,788 units, down 22.92% year-on-year [2][5]. Model Performance - The AITO M9 has sold 50,500 units from January to May, contributing to about half of AITO's total sales. The introduction of the AITO M8 has filled a product gap in the 350,000 RMB price range, enhancing the sales structure [7]. - The AITO M9 delivered 15,481 units in May, making it the best-selling model in the 500,000 RMB segment in the Chinese passenger car market, while the AITO M8 delivered 12,116 units, leading in the 400,000 RMB segment [7]. Financial Performance - In Q1, Seres reported total revenue of 19.15 billion RMB, a year-on-year decline of 27.9%, but the net profit attributable to shareholders reached 750 million RMB, a significant increase of 240.6%, with a gross margin of 27.62% [7]. - The recent performance of new models has led to a visible recovery in sales since April, indicating potential for revenue growth [8]. IPO Plans - Seres is actively pursuing an IPO in Hong Kong, having submitted its application on April 28. The company plans to allocate 70% of the net proceeds for R&D, 20% for diversified marketing channels and overseas sales, and 10% for working capital and general corporate purposes [9].