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Chinese automaker building AITO-brand electric/range-extender SUVs in a deep manufacturing and software partnership with Huawei.
Chinese automaker building AITO-brand electric/range-extender SUVs in a deep manufacturing and software partnership with Huawei.
Builds the cars, while Huawei supplies the driver-assist and cockpit software, designs the user experience and sells AITO models in its own stores, for which Seres pays technology and service fees. Profit therefore depends on both Seres' manufacturing and the terms of the Huawei partnership. It began as the truck and minivan maker Sokon.
In one line: China's Huawei-powered EV maker.
Moat: narrow (distribution, brand). Sells through Huawei's retail stores and co-designs with Huawei's HarmonyOS/ADS software, hard to replicate quickly.
Headquarters: Chongqing, China · Founded: 1986 · Employees: 21,955
Size Seres (601127.SS) is a China Consumer Discretionary company (Motor Vehicles) with a market value of $11.0B, the 225th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥43.66 on 6 Nov 2026.
Performance Over six months the shares fell 50.8%, against -7.4% for the median peer and -16.4% for the China market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue fell 6.0% over the last twelve months (peer median +6.4%); the operating margin is -3.6% (peer median 5.9%).
Valuation It trades at 139.8× forward earnings against a peer median of 12.0× (most expensive of 16).
Capital Return on invested capital runs 11.8 points below its cost of capital (8.6% WACC).
Next results Next results expected around 26 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥140B | CN¥161B | CN¥142B | CN¥35.1B | CN¥33.3B |
| Revenue growth | — | +14% | +304% | +5% | — |
| Gross profit | CN¥36.2B | CN¥41.1B | CN¥31.4B | CN¥1.23B | CN¥1.79B |
| EBITDA | n/a | CN¥11.6B | CN¥10.4B | -CN¥3.62B | -CN¥3.02B |
| Net income | CN¥348M | CN¥5.96B | CN¥5.95B | -CN¥2.45B | -CN¥3.83B |
| Free cash flow | -CN¥13.1B | CN¥24.9B | CN¥15.4B | CN¥3.01B | -CN¥4.52B |
| Capital expenditure | CN¥5.35B | CN¥4.17B | CN¥7.14B | CN¥3.46B | CN¥3.37B |
| Total debt | CN¥35.0B | CN¥44.1B | CN¥44.6B | CN¥15.2B | CN¥21.0B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Seres 601127.SS | $11.0B | -51% | -6% | -4% | 139.8× | n/a |
| Li Auto-w 2015.HK | $12.4B | -32% | -24% | -7% | n/a | n/a |
| NIO 9866.HK | $7.60B | -46% | +70% | -4% | n/a | n/a |
| XPeng 9868.HK | $9.51B | -37% | +29% | -7% | n/a | n/a |
| BYD 1211.HK | $98.9B | -26% | 0% | 4% | 15.8× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 601127.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.0% | +5.7% | 2nd lowest of 21 |
| 6-month return | -50.8% | -7.4% | lowest of 21 |
| Distance from 52-week high | -73.6% | -25.8% | lowest of 21 |
| Revenue growth (TTM) | -6.0% | +6.4% | 5th lowest of 20 |
| Operating margin | -3.6% | 5.9% | 6th lowest of 21 |
| Forward P/E | 139.8× | 12.0× | most expensive of 16 |
| ROIC minus cost of capital | -11.8 pp | -1.1 pp | 5th lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Seres 601127.SS | China | $11.0B | -51% | -6% | -4% | 139.8× | n/a | n/a |
| Tata Motors Passenger Vehicles TMPV.NS | India | $11.4B | -19% | -22% | 0% | 10.7× | n/a | n/a |
| Shimano 7309.T | Japan | $11.5B | +29% | +5% | 12% | 35.8× | 6.0% | +4.3% |
| Hero Motocorp HEROMOTOCO.NS | India | $11.7B | +3% | +27% | 12% | 19.1× | 14.1% | +9.2% |
| Yutong Bus 600066.SS | China | $10.1B | -12% | +3% | 14% | 11.5× | -10.0% | +13.8% |
| Yamaha Motor 7272.T | Japan | $10.1B | +54% | +10% | 6% | 9.3× | 4.2% | +11.5% |
| Subaru 7270.T | Japan | $12.3B | +16% | 0% | 3% | 12.0× | 2.7% | +11.1% |
| Li Auto-w 2015.HK | Hong Kong | $12.4B | -32% | -24% | -7% | n/a | n/a | n/a |
| XPeng 9868.HK | Hong Kong | $9.51B | -37% | +29% | -7% | n/a | n/a | n/a |
| Chongqing Changan Automobile 000625.SZ | China | $9.51B | -25% | -7% | 0% | 28.5× | n/a | n/a |
| Renault RNO.PA | France | $9.39B | +2% | +6% | 6% | 4.9× | 3.4% | +5.9% |
| Isuzu Motors 7202.T | Japan | $9.26B | -1% | +5% | 6% | 8.8× | n/a | n/a |
| Porsche Automobil Holding SE Pref PAH3.DE | Germany | $8.98B | -19% | +13% | 108% | 33.4× | 9.4% | +2.4% |
| Oshkosh OSK | United States | $8.19B | -3% | +4% | 7% | 11.2× | 4.7% | +8.7% |
| Great Wall Motor 601633.SS | China | $15.0B | -29% | +8% | 2% | 15.1× | -7.1% | +16.4% |
| NIO 9866.HK | Hong Kong | $7.60B | -46% | +70% | -4% | n/a | n/a | n/a |
| VinFast Auto VFS | United States | $7.60B | -25% | +74% | -86% | n/a | n/a | n/a |
| Ather Energy ATHERENERG.NS | India | $7.57B | +101% | +63% | -7% | n/a | n/a | n/a |
| Jardine Cycle & Carriage C07.SI | Singapore | $7.36B | -28% | -11% | 10% | 8.2× | -7.8% | +8.9% |
| Zhejiang CFMoto Power 603129.SS | China | $7.23B | +16% | +40% | 11% | 19.9× | -3.9% | +34.5% |
| Tata Motors TMCV.NS | India | $16.6B | -2% | n/a | 9% | 20.7× | 17.8% | n/a |