SERES(SH:601127) Sou Hu Cai Jing·2025-11-20 05:20Core Viewpoint - Company Saisir has gained positive attention from multiple institutions following its successful listing on the Hong Kong stock market on November 5, driven by steady performance and future growth potential [1] Group 1: Financial Performance - In the first three quarters, Saisir achieved a revenue of 1,105.34 billion and a net profit attributable to shareholders of 53.12 billion, marking a year-on-year growth of 31.56% [5] - The strong product cycle of the Aito brand has led to continuous sales growth across all models, pushing the company's performance to new heights [5] Group 2: Strategic Planning - Approximately 70% of the funds raised from the Hong Kong IPO will be allocated to R&D to enhance core technology and innovation capabilities, 20% for new model development, and 10% for adapting overseas models and expanding marketing channels [3] - The company is focusing on the Middle East and Europe as strategic entry points for its global expansion, with overseas business expected to become a significant growth pillar [3] Group 3: Technological Advancements - Saisir is actively exploring cutting-edge technology fields, partnering with Volcano Engine to enter the "AI+" sector, aiming to create a new model that integrates technology and application scenarios [3] - 5% of the funds from the Hong Kong financing will be used for future industrial exploration, which is expected to lead to breakthroughs in embodied intelligent manufacturing and industrialization [3] Group 4: Market Position and Valuation - Multiple institutions, including Changjiang Securities, have expressed optimism about Saisir's leading position in the high-end market and its long-term growth potential, with a target price of 166.19 yuan based on a 24x PE valuation for 2026 [5] - The company is on a virtuous development path characterized by "technology investment—product iteration—global expansion—profit release," supported by the dual-platform capital strategy [5]