SERES(SH:601127) Quan Jing Wang·2025-09-01 11:32Core Insights - The company reported a significant increase in revenue and net profit for the first half of 2025, indicating strong market demand for high-end smart electric vehicles [1] - The company's R&D investment has surged, reflecting its commitment to technological innovation and product iteration [1][2] Financial Performance - The company achieved an operating revenue of 62.4 billion yuan and a net profit attributable to shareholders of 2.941 billion yuan, representing a year-on-year growth of 81.03% [1] - R&D expenditure reached 5.2 billion yuan, marking a 154.9% increase compared to the previous year [1] Technological Advancements - The new generation of the company's super range extension system has been fully applied to its latest models, showcasing industry-leading advantages in quietness, integration, and efficiency [2] - The system's actual power generation efficiency exceeds 3.65 kWh/L, with a thermal efficiency of 44.8%, placing it at the forefront of the industry [2] - The new system has reduced overall fuel consumption by 15% and decreased noise perception frequency by 90%, enhancing user experience [2] Market Position and Strategy - As a pioneer in range extension technology, the company has established a strong technical moat and is recognized for its industrial capabilities [1][2] - The company has formed partnerships with 25 industry enterprises, indicating its collaborative approach to innovation [1] - With the launch of more upgraded products in the second half of the year, the company aims to strengthen its competitive advantage in the new energy vehicle sector [2]