Core Viewpoint - The sales decline of Seres (601127.SH) is alleviated with the launch of the 2025 models Wanjie M9 and Wanjie M8, leading to improved profitability for the company [1][4]. Group 1: Financial Performance - Seres expects a net profit attributable to shareholders for the first half of 2025 to be between 2.7 billion to 3.2 billion yuan, representing a year-on-year increase of 66.20% to 96.98% [2][3]. - The company anticipates a net profit excluding non-recurring gains and losses to be between 2.23 billion to 2.73 billion yuan, reflecting a year-on-year growth of 55.13% to 89.92% [2]. - In the first quarter of 2025, Seres reported a revenue of 19.147 billion yuan, a decrease of 27.91% year-on-year, while net profit increased by 240.6% to 748 million yuan [2]. Group 2: Sales and Production - Overall sales for Seres in the first half of 2025 reached 198,600 units, a decline of 15.77% year-on-year, with new energy vehicle sales at 172,100 units, down 14.35% [4][10]. - The sales figures for the second quarter showed improvement, with monthly sales of 35,700, 44,200, and 50,300 units, indicating year-on-year growth of 5.54%, 14.3%, and 2.39% respectively [4]. - The production capacity utilization rate for the first half of 2025 was 59.1%, with total production of 202,600 units, a decrease of 14.26% year-on-year [10][11]. Group 3: Strategic Goals - Seres aims for a revenue target of 89.605 billion yuan and new energy vehicle sales of 379,500 units for 2025 [7][8]. - The company has set ambitious growth targets for 2024, aiming for a 100% increase in both revenue and new energy vehicle sales compared to 2023 [6]. - To achieve a goal of selling one million new energy vehicles within three years, Seres is actively expanding production capacity [9].