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Seres Group Co. Ltd. Class H
(9927)
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Rating:44Neutral
Price Target:
HK$35.00
▼(-19.54% Downside)
Action:Reiterated
Date:08/22/26
The score is driven primarily by weakening recent fundamentals: TTM margin compression, negative free cash flow, and a sharp increase in leverage relative to prior years. Technical indicators also remain bearish with the price below key moving averages and negative MACD, reinforcing near-term caution. Valuation is mixed—supported by a modest dividend yield, but a negative P/E reduces confidence in earnings-based valuation.
Positive Factors
Proven Profitability Turnaround
The shift from losses through 2023 to solid profits in 2024 and 2025 demonstrates that Seres has shown an ability to reach positive earnings as its revenue base scaled. That established profit inflection can support investment and provides a stronger operating foundation than its earlier loss-making period.
Negative Factors
TTM Revenue and Margin Pressure
TTM revenue fell 6.8% while net margin compressed to about 0.8% from 3.6% in 2025 and operating margins fell to around 1%. This combination weakens earnings resilience and leaves less room for pricing, launch or execution setbacks over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Proven Profitability Turnaround
The shift from losses through 2023 to solid profits in 2024 and 2025 demonstrates that Seres has shown an ability to reach positive earnings as its revenue base scaled. That established profit inflection can support investment and provides a stronger operating foundation than its earlier loss-making period.
Read all positive factors
Seres Group Co. Ltd. Class H (9927) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$92.34B
Dividend Yield2.54%
Average Volume (3M)1.44M
Price to Earnings (P/E)―
Beta (1Y)1.24
Revenue Growth15.52%
EPS GrowthN/A
CountryHK
Employees21,955
SectorGeneral
Sector StrengthN/A
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)-0.99
Shares Outstanding108,619,000
10 Day Avg. Volume858,848
30 Day Avg. Volume1,435,886
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$48.33Price Target Upside11.11% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)0.71
Revenue Forecast (FY)HK$164.07B
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
54
Neutral
Balance Sheet
41
Neutral
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 159.99B | 165.05B | 145.18B | 35.84B | 34.10B | 16.72B |
| Gross Profit | 42.54B | 48.10B | 37.97B | 3.53B | 3.86B | 630.32M |
| EBITDA | 2.61B | 12.35B | 9.47B | -1.07B | -2.33B | -651.04M |
| Net Income | 1.31B | 5.96B | 5.95B | -2.45B | -3.83B | -1.82B |
Balance Sheet | ||||||
| Total Assets | 128.34B | 143.91B | 94.36B | 51.24B | 47.05B | 32.02B |
| Cash, Cash Equivalents and Short-Term Investments | 73.13B | 87.54B | 50.00B | 14.29B | 18.12B | 6.15B |
| Total Debt | 43.15B | 4.63B | 2.90B | 3.87B | 3.84B | 4.44B |
| Total Liabilities | 86.18B | 102.05B | 82.46B | 44.04B | 37.25B | 24.29B |
| Stockholders Equity | 37.47B | 40.92B | 12.26B | 11.41B | 11.42B | 7.96B |
Cash Flow | ||||||
| Free Cash Flow | -3.27B | 24.74B | 15.37B | 2.93B | -4.54B | -3.12B |
| Operating Cash Flow | 2.20B | 28.91B | 22.52B | 6.40B | -1.17B | -987.45M |
| Investing Cash Flow | -20.41B | -5.03B | -16.51B | -2.97B | -4.15B | -1.56B |
| Financing Cash Flow | 11.22B | 18.28B | -4.17B | -1.27B | 6.33B | 2.94B |
Seres Group Co. Ltd. Class H Technical Analysis
Negative
43.50
Price Trends
44.41
Negative
57.72
Negative
Market Momentum
-1.51
Negative
40.75
Neutral
48.58
Neutral
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 42.11, below the 50-day MA of 44.41, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of -1.51 indicates Negative momentum. The RSI at 40.75 is Neutral, neither overbought nor oversold. The STOCH value of 48.58 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
62 Neutral | HK$50.02B | 78.45 | 3.97% | ― | 70.92% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | HK$788.42B | 26.01 | 12.56% | 0.52% | -5.22% | -30.07% | |
53 Neutral | HK$79.56B | -21.92 | -10.72% | ― | 29.34% | 23.95% | |
51 Neutral | HK$71.15B | -12.66 | -108.55% | ― | 70.16% | 82.65% | |
48 Neutral | HK$95.37B | -17.45 | -6.52% | ― | -24.50% | -159.09% | |
44 Neutral | HK$92.34B | -31.03 | 3.55% | 2.54% | 15.52% | ― |
* General Sector Average
HK:9927
Seres Group Co. Ltd. Class H
35.98
-93.81
-72.28%
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Seres Group Co. Ltd. Class H Corporate Events
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...
Seres Group Flags Sharp First-Half 2026 Loss on Cost Pressures and AITO Auto Downturn
Jul 12, 2026
Seres Group Co., Ltd. has warned that it expects to swing to a significant loss for the first half of 2026, projecting a net loss attributable to shareholders of between RMB1.5 billion and RMB1.8 billion, compared with a solid profit a year earlie...
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 ...
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.