Chongqing - Seres has announced its H1 2025 financial results, showing a year-on-year increase in net profit. Brokerage institutions are optimistic about the company’s market value, with nearly 40 institutions issuing "Buy" ratings for Seres over the past six months.

The assembly workshop of Seres' super factory, where robots are at work. (Photo/Wang Jiaxi)

According to the report, the company has posted impressive results. Net profit attributable to shareholders reached 2.941 billion yuan (USD 412.99 million), a rise of 81.03% compared to the same period last year. Gross margin increased to 28.93%.

Seres’ core model, the Aito, developed in collaboration with Huawei and based in Chongqing Liangjiang New Area, performed well. Total deliveries exceeded 147,000 units, representing over 74% of Seres’ total sales in H1 2025.

Several institutions have attributed Seres’ continuous profit growth to its focus on the high-end smart electric vehicle market. Minsheng Securities noted that the ramp-up of high-end products, optimized revenue structure, cost control improvements, and the accelerated release of economies of scale primarily drove the company’s significant profit improvement in H1 2025.

Ping An Securities emphasized that the brand's high-end positioning is crucial to a healthy profit structure for automotive companies. Seres has a strong presence in the high-end SUV market, with its Aito M9 and M8 models laying the foundation for the company's leadership in the new energy vehicle (NEV) sector.

Both the Aito M9 2025 Edition and Aito M8 are high-end models priced above 400,000 yuan, and have been well received by the market since their launch. Data shows that in the first half of 2025, the Aito M9 delivered more than 62,000 units, while the Aito M8 saw over 35,000 units delivered. Seres sold more than 147,000 Aito vehicles in H1 2025, with the M9 and M8 accounting for 66% of the total sales.

Institutions remain optimistic about Seres’ future profit potential and the market performance of its upcoming new models. China Merchants Securities pointed out that Seres performed excellently in H1 2025, particularly with a significant improvement in second-quarter results, and forecast that the ramp-up of new models will drive further growth.

Founder Securities highlighted Seres' strong profit resilience due to its high-end brand strategy, noting that the further market penetration of the Aito M8 and the 2025 Aito M9 is expected to bring incremental support, boosting the company’s performance.

Regarding the new Aito M7, which began pre-sales on September 5, Ping An Securities provided a positive outlook. It stated that the new Aito M7 is expected to become a key model in the 300,000 yuan market segment. With an increased pricing range, the M7 is anticipated to further drive Seres' sales and profitability, contributing significantly to the company's growth.

The Aito M7's pre-sale performance has been exceptional. Richard Yu, Huawei’s Executive Director and Chairman of the Consumer BG's board of directors, posted on social media that the Aito M7 surpassed 100,000 units in pre-orders within 48 minutes on the first day of sales.

As a flagship product in the Aito series, the model has captured the large five-seat market and is equipped with advanced intelligent driving assistance systems. Its monthly sales once neared 30,000 units. This new version marks its closer alignment with the top-of-the-line Aito M9 model. The pre-sale price ranges from 288,800 yuan to 369,800 yuan.

Despite Seres’ strong performance in the sales market, the stock market has been more cautious about its future prospects. On September 5, Seres’ stock closed at 146.5 yuan per share, down 1.21%. Since September 8, the stock price has been in a downtrend.

Some investors have indicated that Seres' core institutional investors are exercising patience, planning to wait for the actual order data and delivery performance after the 23rd to verify whether it meets expectations. Only then will they consider large-scale investments, which could trigger a potential stock price increase.