SERES(SH:601127) Ge Long Hui·2025-10-14 02:01Core Viewpoint - Company Seres has passed the listing hearing on the Hong Kong Stock Exchange, potentially becoming the first luxury electric vehicle company to achieve "A+H" dual listing if the subsequent listing process proceeds smoothly [1] Group 1: Company Overview - Seres focuses on high-end smart electric vehicles and has launched the high-end smart electric vehicle brand "Wenjie" in collaboration with Huawei in 2021, introducing models M5, M7, M9, and M8 to cover various market segments [1] - The company has achieved significant sales growth, with September sales reaching 44,678 units, a year-on-year increase of 19.44%, and cumulative sales for the first nine months of the year reaching 304,629 units [4] Group 2: Financial Performance - Seres reported a remarkable revenue of 145.176 billion yuan for 2024, a year-on-year increase of 305.04%, and a net profit attributable to shareholders of 5.946 billion yuan [6] - The gross margin for electric vehicles improved to 26.21%, making Seres the fourth global electric vehicle company to achieve profitability [6] - In the first half of the year, the company maintained a high-quality development trend, achieving revenue of 62.402 billion yuan and a net profit of 2.941 billion yuan, representing a year-on-year growth of 81.03% [6] Group 3: Future Plans - The funds raised from the Hong Kong listing will be used for research and development, diversifying new marketing channels, overseas sales, and charging network services to enhance global brand recognition [6] - Following the hearing, Seres is expected to accelerate the completion of its Hong Kong listing, leveraging the "A+H" dual capital platform to further expand its leading position in the luxury electric vehicle sector and achieve higher quality development [6]