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Seres Group Co. Ltd. Class H
(9927)
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Rating:69Neutral
Price Target:
HK$50.00
Action:Reiterated
Date:06/19/26
The score is driven primarily by improved financial performance and a low-leverage balance sheet, tempered by weaker cash-flow quality and margin compression. Technicals materially reduce the score due to a strong downtrend and bearish momentum, while a reasonable P/E and modest dividend provide partial valuation support.
Positive Factors
Conservative Leverage
Very low debt-to-equity (~0.11) materially reduces refinancing and interest-rate risk and preserves financial flexibility. Over the next 2–6 months this conservative capital structure supports continued NEV investment, resilience to demand swings, and greater optionality for strategic spending without stressing liquidity.
Negative Factors
Thin Net Margins
Net margins around 3.6% and material EBITDA margin compression signal limited profit buffer versus costs or pricing pressure. This structural thinness constrains ability to fund long-term R&D or marketing without eroding returns, leaving the business vulnerable to commodity, supply-chain, or competitive margin pressures.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Leverage
Very low debt-to-equity (~0.11) materially reduces refinancing and interest-rate risk and preserves financial flexibility. Over the next 2–6 months this conservative capital structure supports continued NEV investment, resilience to demand swings, and greater optionality for strategic spending without stressing liquidity.
Read all positive factors
Seres Group Co. Ltd. Class H (9927) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$119.27B
Dividend YieldN/A
Average Volume (3M)1.36M
Price to Earnings (P/E)92.4
Beta (1Y)1.28
Revenue Growth26.30%
EPS GrowthN/A
CountryHK
Employees18,838
SectorGeneral
Sector StrengthN/A
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)0.43
Shares Outstanding108,619,000
10 Day Avg. Volume1,141,445
30 Day Avg. Volume1,359,413
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)3.81
Price to Sales (P/S)0.94
P/FCF Ratio6.29
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)5.13
Revenue Forecast (FY)HK$219.99B
Seres Group Co. Ltd. Class H Business Overview & Revenue Model
Company Description
Seres Group Co.,Ltd. conducts research, development, production, sales, and servicing of new energy vehicles (NEVs) and their constituent parts, serving both Chinese and international markets. Its product offerings span complete vehicles as well a...
How the Company Makes Money
Seres Group primarily makes money by selling vehicles. Its core revenue stream is recognized from the delivery of completed vehicles to customers (including sales through dealers and/or direct sales channels, depending on its route-to-market). Rev...
Seres Group Co. Ltd. Class H Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
85
Very Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 171.64B | 165.05B | 145.18B | 35.84B | 34.10B | 16.72B |
| Gross Profit | 49.56B | 48.10B | 37.97B | 3.53B | 3.86B | 630.32M |
| EBITDA | 8.68B | 12.35B | 9.47B | -1.07B | -2.33B | -651.04M |
| Net Income | 5.96B | 5.96B | 5.95B | -2.45B | -3.83B | -1.82B |
Balance Sheet | ||||||
| Total Assets | 123.75B | 143.91B | 94.36B | 51.24B | 47.05B | 32.02B |
| Cash, Cash Equivalents and Short-Term Investments | 64.13B | 87.54B | 50.00B | 14.29B | 18.12B | 6.15B |
| Total Debt | 4.38B | 4.63B | 2.90B | 3.87B | 3.84B | 4.44B |
| Total Liabilities | 81.58B | 102.05B | 82.46B | 44.04B | 37.25B | 24.29B |
| Stockholders Equity | 41.31B | 40.92B | 12.26B | 11.41B | 11.42B | 7.96B |
Cash Flow | ||||||
| Free Cash Flow | 12.64B | 24.74B | 15.37B | 2.93B | -4.54B | -3.12B |
| Operating Cash Flow | 17.53B | 28.91B | 22.52B | 6.40B | -1.17B | -987.45M |
| Investing Cash Flow | -12.23B | -5.03B | -16.51B | -2.97B | -4.15B | -1.56B |
| Financing Cash Flow | 8.60B | 18.28B | -4.17B | -1.27B | 6.33B | 2.94B |
Seres Group Co. Ltd. Class H Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | HK$119.27B | 92.42 | 17.44% | ― | 26.30% | ― | |
58 Neutral | HK$830.40B | 27.58 | 11.86% | 1.55% | -3.19% | -40.56% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | HK$52.27B | 78.61 | -2.16% | ― | 101.73% | ― | |
50 Neutral | HK$98.87B | -38.31 | -7.56% | ― | 50.00% | 54.46% | |
49 Neutral | HK$95.01B | -8.17 | -328.93% | ― | 51.57% | 66.02% | |
48 Neutral | HK$95.43B | -45.70 | -2.49% | ― | -23.28% | -123.34% |
* General Sector Average
HK:9927
Seres Group Co. Ltd. Class H
48.56
-81.23
-62.58%
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HK:2015
Li Auto, Inc. Class A
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Zhejiang Leapmotor Technology Co., Ltd. Class H
36.76
-23.04
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38.40
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51.70
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-27.13%
Seres Group Co. Ltd. Class H Corporate Events
Seres Group June Output Drops but Flagship NEVs Sustain Modest Growth
Jul 1, 2026
Seres Group reported preliminary production and sales figures for June 2026 showing notable month-on-month softness but more resilient performance year to date. Total vehicle production fell 29.45% year on year to 35,611 units in June, with sales ...
Seres Group Shareholders Approve New H Share Award Scheme at Extraordinary Meeting
Jun 25, 2026
Seres Group Co., Ltd. reported that its second extraordinary general meeting of 2026, held in Chongqing on June 25, successfully passed all proposed resolutions by poll, with nearly 48% of the company’s voting share capital represented. The ...
Seres Group Details Board Composition and Committee Roles
Jun 25, 2026
Seres Group Co., Ltd. has disclosed the composition of its board of directors and detailed the roles and functions of its executive, non-executive and independent non-executive members. The company has also outlined the membership of its five key ...
Seres Group Calls 2026 EGM to Approve H Share Award Plan and Board Change
Jun 2, 2026
Seres Group Co., Ltd. has convened its second extraordinary general meeting of 2026 for June 25 in Chongqing, setting out proposals focused on equity incentives tied to its H shares and changes in board composition. The company will seek sharehold...
Seres Group Plans Board Refresh as Veteran Director Retires and Dongfeng Executive Nominated
Jun 2, 2026
Seres Group Co., Ltd. has announced that non-executive director Li Wei will retire upon reaching the statutory age and step down from the board and its relevant committees with effect from June 2, 2026, with the board expressing appreciation for h...
Seres Group Outlines Board Composition and Governance Committee Structure
Jun 2, 2026
Seres Group Co., Ltd. announced the current composition of its board of directors, listing four executive directors, three non-executive directors, and five independent non-executive directors. The disclosure underscores the company’s emphas...
Seres Group Posts May Volume Drop but Seres EV Line Drives Year-to-Date Growth
Jun 1, 2026
Seres Group reported that its total vehicle production in May 2026 fell 18.28% year on year to 36,583 units, while sales declined 17.38% to 36,480 units, reflecting a weaker monthly performance despite growth earlier in the year. New energy vehicl...
Seres Group Posts Strong Year-to-Date NEV Growth as Seres Models Outpace Wider Portfolio
May 5, 2026
Seres Group reported April 2026 production of 34,491 new energy vehicles, up slightly year on year, with year-to-date NEV output rising over 24%, underscoring robust momentum in its electrified portfolio. Within this, Seres-branded models drove gr...
Seres Group Q1 2026 Revenue Surges but Cash Flow and Core Profitability Weaken
Apr 29, 2026
Seres Group Co., Ltd. reported a sharp 34.46% year-on-year increase in operating income to RMB 25.75 billion for the first quarter of 2026, while net profit attributable to shareholders edged up 0.89% to RMB 754 million. However, profit quality we...
Seres Group Sets Out Board Line-up and Key Committee Roles
Apr 22, 2026
Seres Group Co., Ltd. has announced the composition of its board of directors, naming four executive directors, four non-executive directors and five independent non-executive directors. The structure underscores an emphasis on independent oversig...
Seres Group Wins Strong Shareholder Backing at 2025 AGM, Approves Dividend and Governance Changes
Apr 22, 2026
Seres Group Co., Ltd. reported that shareholders approved all resolutions at its 2025 annual general meeting held in Chongqing on April 22, 2026, with more than half of eligible voting shares represented. The meeting confirmed active participation...
Seres Group Sets Final 2025 Dividend and Details Tax Treatment for H-Share Investors
Apr 22, 2026
Seres Group Co., Ltd. has declared a final ordinary cash dividend of RMB 0.8 per share (HKD 0.913) for the financial year ended 31 December 2025, following shareholder approval on 22 April 2026. The ex-dividend date is set for 6 May 2026, with a r...
Seres Group Sets April 29 Board Meeting to Approve Q1 2026 Results
Apr 17, 2026
Seres Group Co., Ltd., a joint stock company incorporated in the People’s Republic of China and listed on the Hong Kong Stock Exchange under stock code 9927, has a board comprising executive, non-executive and independent non-executive direc...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.