/PRZWT/In the golden September and silver October, Seres delivered an outstanding performance. On November 2nd, Seres disclosed its production and sales report for October. The sales volume of new energy vehicles in that month reached 51,456 units, a year-on-year increase of 42.89%, setting a new historical record at one go. The cumulative sales volume in the first month of this year exceeded 350,000 units, demonstrating strong market explosive power.
Research reports from multiple institutions, including Zhongtai Securities, Founder Securities, Dongwu Securities, Bank of Communications International, Ping An Securities, and Dongguan Securities, are all optimistic about the future growth expectations of Seres. Fangzheng Securities pointed out that Seres' performance has stability across cycles. The arrival of the new car cycle will drive continuous growth in performance. It maintains a "strong recommendation" rating.
The continuous increase in sales has driven the enhanced profitability of Seres. In the first three quarters of 2025, Seres achieved operating revenue of 110.534 billion yuan and net profit attributable to shareholders of the listed company reached 5.312 billion yuan, representing a year-on-year growth of 31.56%. Zhongtai Securities pointed out in its research report that the core driving force behind the significant growth in Seres' profits lies in the continuous increase in the sales proportion of high-end models of the Askui brand. Among them, the AsKUI M9 has delivered over 250,000 units in 21 months since its launch, setting a new record for the delivery of luxury vehicles in the 500,000-yuan class. The cumulative delivery volume of the AsKUI M8 has exceeded 100,000 units, firmly holding the top position in the 400,000-yuan luxury car market. The all-new Askui M7 has delivered over 20,000 units within 36 days of its launch, becoming a phenomenon-level bestseller with rapid sales growth.
In its research report, BOCOM International predicted that Seres will enter a stage of both volume and price increase driven by a strong cycle in the fourth quarter of 2025. It is expected that the average monthly delivery volume will leap to the range of 50,000 to 60,000 units, driving the revenue and profit to continue to grow quarter-on-quarter. It is optimistic about Seres' further expansion in the high-end market and its potential for profitability growth.
