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Seres Group Co. Ltd. Class H
(9927)
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Rating:44Neutral
Price Target:
HK$28.00
▼(-35.63% Downside)
Action:Reiterated
Date:10/31/26
The score is primarily held back by weakened TTM fundamentals—negative operating/free cash flow, higher leverage, and softer revenue/profitability—followed by a clearly bearish technical setup with price trading below all major moving averages. Valuation is somewhat supported by the dividend yield, but the negative P/E reduces confidence in earnings-based valuation.
Positive Factors
Profitability Turnaround
The move from deep losses in 2021–2023 to strong profitability in 2024–2025 shows that Seres has demonstrated an ability to improve earnings materially. That recovery provides a stronger operating base than the earlier loss period, although its durability now depends on reversing the later TTM weakening.
Negative Factors
TTM Revenue and Margin Pressure
TTM revenue declined 12.5% and net margin became very thin after the stronger 2025 performance. Lower sales and compressed profitability reduce the earnings cushion available to fund product development, absorb cost or pricing pressure, and sustain a durable recovery over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability Turnaround
The move from deep losses in 2021–2023 to strong profitability in 2024–2025 shows that Seres has demonstrated an ability to improve earnings materially. That recovery provides a stronger operating base than the earlier loss period, although its durability now depends on reversing the later TTM weakening.
Read all positive factors
Seres Group Co. Ltd. Class H (9927) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$80.03B
Dividend Yield3.11%
Average Volume (3M)2.73M
Price to Earnings (P/E)―
Beta (1Y)1.09
Revenue Growth15.52%
EPS GrowthN/A
CountryHK
Employees21,955
SectorGeneral
Sector StrengthN/A
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)-0.16
Shares Outstanding108,619,000
10 Day Avg. Volume1,842,730
30 Day Avg. Volume2,733,673
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 Target
HK$47.00Price Target Upside8.05% Upside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)0.44
Revenue Forecast (FY)HK$158.66B
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, with revenue recognized from the delivery of automobiles to customers through its sales channels. Its key revenue streams typically include (1) sales of new energy passenger vehicles and other...
Seres Group Co. Ltd. Class H Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
46
Neutral
Cash Flow
32
Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 139.95B | 165.05B | 145.18B | 35.84B | 34.10B | 16.72B |
| Gross Profit | 34.03B | 48.10B | 37.97B | 3.53B | 3.86B | 630.32M |
| EBITDA | -1.81B | 12.35B | 9.47B | -1.07B | -2.33B | -651.04M |
| Net Income | 357.84M | 5.96B | 5.95B | -2.45B | -3.83B | -1.82B |
Balance Sheet | ||||||
| Total Assets | 117.85B | 143.91B | 94.36B | 51.24B | 47.05B | 32.02B |
| Cash, Cash Equivalents and Short-Term Investments | 46.59B | 87.54B | 50.00B | 14.29B | 18.12B | 6.15B |
| Total Debt | 34.96B | 4.63B | 2.90B | 3.87B | 3.84B | 4.44B |
| Total Liabilities | 79.23B | 102.05B | 82.46B | 44.04B | 37.25B | 24.29B |
| Stockholders Equity | 37.96B | 40.92B | 12.26B | 11.41B | 11.42B | 7.96B |
Cash Flow | ||||||
| Free Cash Flow | -13.80B | 24.74B | 15.37B | 2.93B | -4.54B | -3.12B |
| Operating Cash Flow | -8.39B | 28.91B | 22.52B | 6.40B | -1.17B | -987.45M |
| Investing Cash Flow | -19.54B | -5.03B | -16.51B | -2.97B | -4.15B | -1.56B |
| Financing Cash Flow | 11.86B | 18.28B | -4.17B | -1.27B | 6.33B | 2.94B |
Seres Group Co. Ltd. Class H Technical Analysis
Negative
43.50
Price Trends
35.74
Negative
41.27
Negative
63.31
Negative
Market Momentum
-1.77
Positive
35.49
Neutral
6.19
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9927, the sentiment is Negative. The current price of 43.5 is above the 20-day moving average (MA) of 33.76, above the 50-day MA of 35.74, and below the 200-day MA of 63.31, indicating a bearish trend. The MACD of -1.77 indicates Positive momentum. The RSI at 35.49 is Neutral, neither overbought nor oversold. The STOCH value of 6.19 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:9927.
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 |
|---|---|---|---|---|---|---|---|
56 Neutral | HK$44.39B | 52.29 | 5.01% | ― | 70.92% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | HK$68.22B | -18.76 | -10.72% | ― | 29.34% | 23.96% | |
51 Neutral | HK$719.87B | 23.53 | 13.09% | 0.60% | 0.29% | -15.06% | |
48 Neutral | HK$87.91B | -16.04 | -6.52% | ― | -24.50% | -159.09% | |
45 Neutral | HK$63.32B | -10.30 | -108.58% | ― | 70.16% | 82.65% | |
44 Neutral | HK$80.03B | -25.13 | 3.55% | 3.11% | 15.52% | ― |
* General Sector Average
HK:9927
Seres Group Co. Ltd. Class H
29.32
-100.47
-77.41%
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Seres Group Co. Ltd. Class H Corporate Events
Seres Group Third-Quarter Results Reveal Steep Profit Decline and Cash Flow Strain
Oct 30, 2026
Seres Group Co., Ltd. reported a sharp downturn in its 2026 third-quarter results, with operating income for the period falling 41.66% year-on-year to RMB 28.08 billion and total profit down 56.65%. Net profit attributable to shareholders for the ...
Seres Group Sets Board Meeting to Approve Q3 2026 Results
Oct 16, 2026
Seres Group Co., Ltd. is a joint stock company incorporated in the People’s Republic of China with limited liability and listed in Hong Kong under stock code 9927. The group operates through multiple subsidiaries and is overseen by a diversi...
Seres Group’s September NEV Output and Sales Slide Amid Ongoing Downtrend
Oct 8, 2026
Seres Group reported a sharp decline in September 2026 production and sales, with total vehicle output down 38.38% year on year to 30,344 units and sales falling 33.28% to 32,218 units. New energy vehicles, the company’s main business, were ...
Seres Group Grants 15 Million H Share Awards Under New Incentive Scheme
Sep 30, 2026
Seres Group Co., Ltd. has granted 15,000,000 H share awards to 586 participants, including three directors, the president and 583 employees, under its newly adopted H Share Award Scheme. The awards are priced at RMB1.00 per share and are structure...
Seres Group’s August NEV Output and Sales Slide Sharply Amid Market Headwinds
Sep 1, 2026
Seres Group reported a sharp decline in August 2026 production and sales, with total vehicle output down 43.67% year on year to 26,531 units and sales falling 39.58% to 27,684 units, driven largely by weaker demand for its core Seres new energy ve...
Seres Group Releases Unaudited Interim Results for First Half of 2026
Aug 19, 2026
Seres Group Co., Ltd., a PRC-incorporated limited liability joint stock company listed in Hong Kong under stock code 9927, announced its unaudited interim results for the six months ended June 30, 2026. The group’s disclosures follow Hong Ko...
Seres Group Sets Board Meeting to Approve 2026 Interim Results
Aug 7, 2026
Seres Group Co., Ltd. has scheduled a board meeting for August 19, 2026 to review and approve the group’s interim results for the six months ended June 30, 2026 and to authorize their publication. The announcement signals the forthcoming dis...
Seres Group’s July NEV Output and Sales Slump as Core Seres Models Weaken
Aug 3, 2026
Seres Group Co., Ltd. reported July 2026 production of 24,577 new energy vehicles, down 44.47% year on year, and sales of 24,229 units, down 45.65%, with Seres-branded models bearing the steepest declines. Year-to-date, NEV production fell 7.51% t...
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.