3 6 Ke·2025-07-31 12:25Core Insights - Zhang Xinghai and his company, Seres, have become a benchmark enterprise and figure in Chongqing's automotive industry, competing with China Changan Automobile Group's chairman, Zhu Huarong [1][3][5] - Seres has achieved significant sales and revenue growth, with projected sales of 426,800 vehicles and revenue of 145.176 billion yuan for 2024, and a net profit of 2.7 to 3.2 billion yuan for the first half of 2025, reflecting a year-on-year growth of 66.2% to 96.98% [1][7][10] Company Performance - Seres has a high demand for labor, with a monthly income of over 10,000 yuan during peak times, making it an attractive employer in Chongqing [1] - The company has established multiple factories in Chongqing, including those for the Wanjie M5, M7, M8, and M9 models, and is investing 3.2 billion yuan in a global automotive park [5][10] - In 2024, Seres contributed 44.78% of its sales from new energy vehicles, with total vehicle production in Chongqing reaching 2.54 million, including 953,000 new energy vehicles, a 90.5% year-on-year increase [7][8] Competitive Landscape - Changan Automobile has set an ambitious target of 5 million vehicles in production and sales by 2030, with a focus on becoming a top 10 global automotive brand [5][19] - The establishment of the new Changan Automobile Group aims to enhance decision-making efficiency and resource allocation, which could significantly impact the competitive dynamics in Chongqing's automotive sector [18][19] - Both Seres and Changan are focusing on new energy vehicles, with Changan planning to launch 35 new smart vehicles in the next three years [22][24] Industry Context - The automotive industry in Chongqing has a rich history, with significant contributions from both state-owned and private enterprises, but has faced challenges such as overproduction of low-end vehicles [7][8] - The shift towards new energy vehicles is seen as crucial for the future of Chongqing's automotive industry, with both Seres and Changan adapting their strategies accordingly [21][30] - The competition between Seres and Changan reflects broader trends in the Chinese automotive market, where innovation and technology are becoming key differentiators [30][31]