SERES(SH:601127) Quan Jing Wang·2025-07-03 08:00Group 1 - The core viewpoint is that Seres has solidified its leading position in the Chinese new energy vehicle market with strong sales performance in the first half of the year, achieving a record high of 46,086 units sold in June and a total of 172,108 units from January to June [1] - The AITO brand's models, particularly the M9 and M8, are driving significant sales growth, with a total of over 700,000 users and June deliveries reaching 44,685 units [3] - The M9 model has set a new record for luxury vehicles priced above 500,000 yuan, with cumulative deliveries surpassing 200,000 units, while the average transaction price for the M9 reached 409,000 yuan in May 2025, leading the luxury brand segment [5] Group 2 - Multiple securities firms, including Founder Securities and Guolian Securities, have issued reports expressing optimism about Seres' future growth potential, highlighting the company's resilience in a competitive market [5] - The M8 model's rapid sales increase, along with the introduction of new models, is expected to sustain steady growth in overall sales and drive continuous performance improvement [5]