Seres Joins China's Four Major Stock Indexes, Stressing Strong Market Performance

Chongqing - The Shanghai Stock Exchange (SSE) and China Securities Index Co., Ltd. recently announced the results of their regular adjustments to key indexes, including the CSI 300, SSE 50, SSE 180, and CSI A500. Seres, a leading new energy vehicle (NEV) manufacturer in Chongqing, has joined the four mentioned indexes. The changes will take effect after the market closes on December 13.

The CSI 300, SSE 50, and other indexes are the most influential in the RMB-denominated A-share market. They reflect the dynamics in China's securities and capital markets.

Numerous robotic arms process the car body frames at the Seres Super Factory. (Photo/Seres)

The SSE 50 comprises the 50 most representative stocks in the SSE, known for their large market capitalization and high liquidity, providing a snapshot of the performance of the market's leading and most influential companies. According to the reports, Seres is the first Chongqing company to be included in the index, as no other Chongqing-based companies have joined previously.

The CSI 300 tracks the performance of the 300 largest and most liquid stocks on the Shanghai and Shenzhen stock exchanges, representing around 60% of the total market capitalization. It widely serves as a key benchmark for the overall performance of China's stock market and provides an important reference for investors.

With its inclusion in the SSE 180, Seres automatically becomes a target stock under the Shanghai-Hong Kong Stock Connect. It enables investors in both Shanghai and Hong Kong to trade eligible stocks listed on the other exchange through local brokers. As a result, Seres stands to attract investment from Hong Kong-based funds.

According to the analysis, Seres' inclusion in the CSI 300, SSE 50, and other major indexes underscores China's capital markets' recognition of its market value and liquidity. Seres's strong financial performance is closely linked to its inclusion in these indexes.

Seres drives global growth through innovation

Seres reported that by the end of November, its cumulative sales of NEVs reached 389,566 units, representing a year-on-year increase of 255.26%. During Q1-Q3 of 2024, Seres posted revenue of 106.627 billion yuan (about 14.65 billion USD), up 539.24% compared to the same period last year. Additionally, Seres achieved a net profit of 4.038 billion yuan attributable to the shareholders of the listed company, reversing its losses from the previous year.

A standout achievement of Seres is its strong performance in China's luxury car market. In the authoritative ranking of domestic car sales above 500,000 yuan for October, the AITO M9, manufactured by Seres, once again claimed the top spot. Notably, it is the only Chinese independent brand among the top five. The second to fifth positions on the list are occupied by luxury models, including the Mercedes-Benz E-Class, Audi A6L, BMW 5 Series, and Mercedes-Benz GLC.

Seres focuses on electrification and intelligence, driven by its commitment to technology research. A representative from Seres stated that Seres has been developing range-extender technology since 2016, with ongoing innovations and improvements.

The representative noted that Seres recently unveiled its next-generation super-range-extender system, which allows 1 liter of fuel to generate over 3.6 kWh of electricity, reducing fuel consumption by 15% and noise perception by 90%.

In collaboration with Huawei, Seres has upgraded its AITO models by integrating the HUAWEI ADS 3.0 advanced intelligent driving assistance system. According to the company representative, this enhancement significantly boosts the intelligence of its electric vehicles.

Foreign guests experience the AITO model at the Seres factory. (Photo/Chongqing Liangjiang New Area)

Seres is rapidly expanding its global presence, with its products now available in over 70 countries and regions, spanning Europe, the Americas, Africa, the Middle East, and Southeast Asia. To date, the company has exported more than 500,000 units. According to the company representative, Seres recently showcased its ambition by sending eight AITO models on a cross-Eurasian journey to the Paris Automobile Show. This expedition exposed the vehicles to a wide range of driving conditions, infrastructure, and regulations, highlighting the importance of tailoring products to meet the unique demands of local markets.