赛力斯持续推进股份回购计划 基本面稳健彰显发展信心

This article discloses the latest progress of the share repurchase program launched by listed automaker Seres, as well as the company's fundamental performance backing this move. Key takeaways are as follows:

1. Latest repurchase progress: In August 2026, Seres repurchased 1 million A-shares through the Shanghai Stock Exchange's centralized auction trading, with a total investment of approximately RMB 49.672 million. All repurchased shares will be canceled to reduce the company's registered capital, with the goal of boosting earnings per share for shareholders.

2. Overall program progress: This is the ninth repurchase since Seres unveiled its repurchase plan. As of August 31, 2026, the company has repurchased a total of 9.9755 million shares, accounting for 0.57% of its total equity, with an accumulated investment of approximately RMB 637 million. The repurchase program is moving forward steadily.

3. Corporate fundamentals: In the first half of 2026, Seres posted revenue of RMB 57.493 billion, while deliveries of its AITO brand vehicles rose 10.2% year-over-year. As of the end of June, the company held more than RMB 73.15 billion in cash reserves, with a sound financial structure that provides solid backing for the ongoing share repurchase. Industry analysts note this move demonstrates management's confidence in the company's growth trajectory, further highlighting Seres's long-term value.

This article details the capital moves and operating performance of new energy vehicle (NEV) brand Seres amid a sector downturn, offering actionable insights for consumer brand practitioners. Key takeaways are as follows:

1. How to communicate brand confidence: Against the backdrop of a sluggish overall industry, Seres has consistently carried out large-scale share repurchases and cancellations to signal management's confidence in its growth to the market and consumers. This move not only lifts shareholder returns but also strengthens market trust in the brand and reinforces its image as a stable player, providing a replicable confidence communication framework for other brands.

2. Implications for the current industry landscape: While the overall NEV sector is facing headwinds, leading resilient brands still managed to deliver positive growth, indicating that structural growth opportunities remain in the market. Brands that maintain strong fundamentals can retain operating resilience through the downturn.

3. The importance of financial health: Seres's sound financial position, with more than RMB 73.15 billion in cash reserves, enables it to carry out capital actions during an industry trough. This example highlights how critical a robust financial structure is for brands to navigate industry cycles.

This article outlines Seres's operating performance and capital moves, offering key insights for sellers across the automotive supply chain. Key takeaways are as follows:

1. Market opportunity outlook: Even as the broader NEV industry faces pressure, AITO, Seres's core brand, still posted 10.2% year-over-year delivery growth, proving that structural growth opportunities remain in the NEV market. Relevant sellers should prioritize supporting sectors that serve stable leading brands to unlock growth potential.

2. Cooperation risk assessment: As of the end of June 2026, Seres held more than RMB 73.15 billion in cash reserves, maintains a sound financial structure, and is steadily executing its repurchase program, reflecting strong operating stability. Sellers partnering with Seres can expect more stable orders and payments, with far lower cooperation risk than working with unstable small and medium-sized brands.

3. Operating guidance: Against the backdrop of broad industry pressure, sellers should prioritize partnering with fundamentally strong, growth-determined brand clients to control operating risk, grow their business alongside leading brands, and avoid unstable partners to reduce uncertainty.

This article discloses operating details about Seres that offer high reference value for factories in the automotive supply chain. Key takeaways are as follows:

1. Business opportunities: AITO vehicles maintained 10.2% year-over-year delivery growth, reflecting stable market demand. This translates to stable demand for upstream supply chain components, with a low risk of large-scale order cuts or payment defaults, providing supporting factories with stable cooperation and revenue streams.

2. Production-side demand outlook: With more than RMB 73.15 billion in cash reserves and a healthy balance sheet, Seres has sufficient capital to invest in new product R&D and production. It is highly likely to launch new models, which will create new demand for product design and capacity matching on the production side. Supporting factories can prepare early and proactively engage to capture new order opportunities.

3. Operating takeaways: Seres's growth resilience during the industry downturn teaches factories to prioritize partnering with fundamentally sound brand clients to secure their own operating stability, while optimizing production management systems to adapt to the product iteration needs of leading brands.

This article outlines the current overall NEV industry environment and the operating performance of leading player Seres, offering valuable insights for automotive industry service providers. Key takeaways are as follows:

1. Industry trend outlook: The NEV industry is currently facing broad headwinds and seeing clear sector divergence: leading stable enterprises continue to grow, while small and medium-sized brands face heavy operating pressure. Service providers can shift their business development focus to financially healthy, operationally stable leading brands to reduce the risk of bad debt and customer churn.

2. Key client pain points: In the current challenging industry environment, weak market confidence is a common problem for many leading enterprises, which have strong demand for boosting market confidence and communicating their development commitment.

3. Service development guidance: Service providers can develop targeted service products to match this core corporate demand, such as confidence-building communication programs and compliant supporting services for capital operations, to expand their own business scope.

The information on Seres disclosed in this article offers reference value for platform operators including securities exchanges and automotive sales platforms. Key takeaways are as follows:

1. Corporate demand insight: As a leading A-share listed NEV maker, Seres has consistently carried out share repurchases via the Shanghai Stock Exchange's centralized auction channel, reflecting listed companies' stable demand for compliant capital operation channels. Platforms can further optimize relevant trading service processes and improve user experience to meet the capital operation needs of listed companies.

2. Investment and partnership strategy: Seres boasts strong fundamentals, positive delivery growth, and healthy finances, making it a high-quality partnership target. Both securities platforms and automotive sales platforms can prioritize recruiting such stable leading automakers as partners to boost the platform's own brand influence and user trust.

3. Risk mitigation guidance: With the overall NEV industry facing pressure, platforms should prioritize evaluating a company's financial health and operating resilience when onboarding new partners, prioritize adding stably operated leading enterprises, and mitigate the platform's own operating risk.

This article provides capital action and operating data of a leading domestic NEV manufacturer during an industry downturn, offering high research value for automotive industry and capital market researchers. Key takeaways are as follows:

1. New industry trends: As the NEV industry enters an adjustment period facing broad operating pressure, leading enterprises have started using continuous share repurchase and cancellation to signal confidence to the market and highlight their long-term value. This is a typical new move by leading players during industry adjustment, reflecting new corporate response strategies amid shifting industry landscape.

2. New industry characteristics: Public data shows that despite overall industry pressure, leading brands still deliver positive growth, confirming widening sector divergence and a gradually forming "winner-takes-all" pattern. This is a new defining feature of current industry development that merits in-depth research.

3. Research data support: This article discloses multi-dimensional data including detailed repurchase progress, corporate revenue, cash reserves, and delivery growth, alongside core views from industry analysts. It can serve as a typical case study for research on industry capital operations and shifting industry landscape to support relevant research conclusions.