SERES(601127) Zhongshan Securities·2025-03-14 12:10Investment Rating - The report indicates a positive outlook for the company, with expectations of turning a profit in 2024 [5][12]. Core Insights - The company has announced significant revenue growth, projecting 2024 revenue between 144.2 billion and 146.7 billion CNY, representing a year-on-year increase of 302.32% to 309.30% [5][12]. - The expected net profit for 2024 is between 5.5 billion and 6 billion CNY, marking a successful turnaround from losses in the previous year [5][12]. - The company’s electric vehicle sales have surged, with production and sales growth of 179% and 182% respectively, and the brand's sales growth reaching 270% and 267% [5][13]. - The partnership with Huawei continues to strengthen, with significant investments made in acquiring the "Wenjie" trademark and shares in Shenzhen Yingwang Intelligent Technology Co., enhancing the company's technological resources [6][17]. Summary by Sections 1. Company Performance - The company has reported a substantial increase in revenue and is expected to achieve a net profit in 2024, a significant improvement from the previous year [5][12]. 2. Sales Growth - The company’s electric vehicle sales are projected to reach 426,900 units in 2024, driven by technological innovation and a competitive market position [5][13]. 3. Strategic Partnerships - The ongoing collaboration with Huawei is expected to enhance the company's market position and product offerings, with a focus on smart technology [6][17].