Core Viewpoint - Seres is advancing its international strategy by initiating a secondary listing in Hong Kong, which is expected to enhance its global presence and competitiveness in the electric vehicle market [2][5]. Financial Performance - In 2024, Seres achieved a revenue of 145.176 billion RMB, representing a year-on-year growth of 305.04% [2]. - The net profit attributable to shareholders reached 5.946 billion RMB, marking a successful turnaround from losses [2]. - The total sales of electric vehicles for the year were 426,900 units, reflecting a significant increase of 182.84% compared to the previous year [2]. Funding Allocation - The company plans to allocate 70% of the funds raised from the Hong Kong listing to research and development, 20% to marketing channels, overseas sales, and charging networks, and 10% for operational expenses [2]. Company Background - Seres Group, established in September 1986, was formerly known as Chongqing Sokon Industrial Group Co., Ltd. and successfully listed on the Shanghai Stock Exchange in 2016 [4]. - The company has become a leading player in the domestic electric vehicle market, primarily through its partnership with Huawei [4]. Product Offering - The core brand AITO has launched several models, including M5, M7, M9, and M8, covering a price range from 200,000 to 600,000 RMB, which have been well-received in the market [4]. Market Positioning - The secondary listing is expected to support Seres in enhancing its research capabilities and market expansion, positioning the company favorably in the increasingly competitive global electric vehicle market [5].

2025年的上海车展已经进入公众日，据主办方统计，在媒体日期间，就有超过100款新车型首发。热闹非凡的 背后，是换道新能源赛道后，中国在真正引 领汽车发展的新时代。 乘联会数据显示，中国市场3月新能源汽车渗透率达54.1%，数据上看，燃油车和新能源车市场博弈的分水岭已经顺利跨越。这背后是巨量营销成本的堆 积。 "品牌公关、活动、广告、车展、发布会、车主运营等，哪一项都要钱"，去年暴雷的极越汽车就曾被爆出，仅一场浮桥测试的直播就烧掉七八百万。年营 销十几亿已经是许多头部车企的标配。 一方面品牌拼了命刷存在感，但消费者真正愿意记住、考虑、下单的品牌又有多少呢？ NO.1 汽车营销与用户心智"错位"？ CTR的调研发现，中国车市隐藏着严重的结构性问题：在真正的购买环节，90%的用户最终只会在2-3个品牌之间做出抉择。所以现实是，供给越来越 多，能进入用户"决策池"的却越来越少，这种错位形成了当前"高投入低转化"的行业困境。 可以说，未来新能源汽车品牌的竞争已不是单纯的产品力较量，汽车行业正进入一场无声的淘汰赛——不是看谁声量大，而是谁能扎实挺进，真正走进用 户心里。 这条路上几乎没有捷径，网络上的热度并不代表消费者 ...