Futu News reported on November 4 that $SERES (09927.HK)$ the stock rose over 2% in the gray market, trading at HKD 134.50 per share. With a minimum lot size of 100 shares and excluding handling fees, investors earned HKD 300 per lot.
Source of market data: Futu Securities
Company Overview
Seris is a technology-driven enterprise with a core focus on new energy vehicles (NEVs). Its business spans the research, development, manufacturing, sales, and services of NEVs and their key three-electric components. Leveraging nearly four decades of industry experience and operational optimization, the company has achieved several business milestones. In 1986, it embarked on its first entrepreneurial journey through spring and shock absorber businesses, later expanding into motorcycle operations. In 2003, the company seized the opportunity presented by the rise of domestic automobile brands and entered the whole vehicle manufacturing sector via a joint venture with Dongfeng Motor. In 2016, the company fully transitioned to the NEV field, launching the AITO brand in 2021, which established the brand positioning of “Intelligence Redefining Luxury,” along with a series of models.
To date, the company has successfully launched four models under the AITO brand: the M5, M7, M8, and M9. Among these, the M5 set the fastest record for a new brand’s single model delivery volume exceeding 10,000 units in its debut year; the M7 became the best-selling domestic brand model in China’s CNY 300,000 price range, with deliveries reaching approximately 200,000 units in 2024; the M9 emerged as the sales champion in China’s CNY 500,000 price segment, delivering over 150,000 units in 2024. The M8, released in April 2025, also gained significant market traction, with pre-orders surpassing 30,000 units within just 24 hours of its official launch. According to a Frost & Sullivan report, the AITO brand ranked first in reputation among NEV brands with an NPS score of 82% in the second half of 2024. Additionally, the AITO brand achieved total deliveries of 387,100 units in 2024, representing a year-on-year growth of 268%.
Financial Overview
Seris’ revenue increased by 305.5% from CNY 35.8 billion in 2023 to CNY 145.1 billion in 2024. Revenue from vehicle sales surged by 314.0%, rising from CNY 33.6 billion in 2023 to CNY 138.9 billion in 2024, primarily driven by the revenue from NEV sales, which grew from CNY 28.9 billion in 2023 to CNY 135.5 billion in 2024.
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Editor/Hao
