SERES(SH:601127) Xin Lang Cai Jing·2025-11-09 21:05Core Viewpoint - The company reported its Q3 2025 results, showing a total revenue of 169.4 billion yuan, a year-on-year increase of 16% and a quarter-on-quarter increase of 6.7%, with a net profit attributable to shareholders of 2.08 billion yuan, up 18% year-on-year but down 9.1% quarter-on-quarter [2]. Financial Performance - Q3 2025 revenue reached 169.4 billion yuan, reflecting a 16% year-on-year growth and a 6.7% quarter-on-quarter growth [2]. - The net profit attributable to shareholders was 2.08 billion yuan, marking an 18% increase year-on-year but a decrease of 9.1% from the previous quarter [2]. - The company achieved a sales volume of 142,000 vehicles in Q3 2025, which is a 6.3% increase year-on-year and a 9.1% increase quarter-on-quarter [2]. Product Performance - The sales of the new model, Wanjie M8, contributed significantly to the overall sales, with 124,000 units sold in Q3 2025, representing a 12% year-on-year increase and a 16% quarter-on-quarter increase [2]. - The Wanjie M8 maintained its position as the sales champion in the 300,000 to 400,000 yuan SUV segment, with monthly sales of 23,000, 22,000, and 20,000 units in the second and third quarters [3]. Capital Market Activity - The company successfully listed on the Hong Kong Stock Exchange, raising 14 billion HKD. The shares were priced at 131.50 HKD each, with a total of 108,619,000 shares issued [2]. - The capital raised will be allocated as follows: 40% for technology R&D, 30% for product development, 20% for marketing and sales channels, and 10% for working capital and general corporate purposes [2]. Strategic Initiatives - The company is pursuing a dual capital platform strategy ("A+H") to enhance brand recognition in international markets and accelerate the global expansion of the Wanjie brand [2]. - A partnership was established with ByteDance's Volcano Engine to develop embodied intelligence solutions, indicating a strategic move into advanced technology sectors [3].