Seres Group Shares Rise After It Guides for Swing to Profit

Dow Jones10-11

By Jiahui Huang

Shares of Chinese automaker Seres Group jumped in Shanghai after it guided for a swing to profit for the first three quarters this year.

The stock was up 5.65% early Friday, outperforming the benchmark Shanghai Composite Index, which was down 1.7%.

The gains came after the company said overnight that it expects to post a net profit for the first nine months of the year. It projects profit for the period at between 3.5 billion yuan to 4.1 billion yuan, or about $494 million to $579 million, compared with a loss a year earlier.

Seres, which has a partnership with tech giant Huawei for in-car software and assisted driving, is a relative newcomer to China's fiercely competitive electric-vehicle market, but is in the top 10 in terms of sales, the most recent monthly figures show.

In September, the automaker sold 35,852 cars, taking the no. 9 spot in sales, according to data from the China Passenger Car Association.

Seres has also guided for revenue for the first three quarters to rise more than six-fold to between 103.0 billion yuan and 110.0 billion yuan.

Earnings growth has been supported by product-mix adjustments, the company said in a filing, adding that its high-value cars have posted strong sales so far this year.

The company booked a net profit of 1.62 billion yuan for the first half of the year, compared with a net loss of 1.34 billion yuan a year earlier. It reported revenue of 82.42 billion yuan for the six-month period.

Write to Jiahui Huang at jiahui.huang@wsj.com

(END) Dow Jones Newswires

October 10, 2024 22:52 ET (02:52 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2474082367?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-11 10:52","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2474082367","market":"hk","top_or_hot":-1,"title":"Seres Group Shares Rise After It Guides for Swing to Profit","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Jiahui Huang \n</p>\n<pre>\n \n</pre>\n<p>\n  Shares of Chinese automaker Seres Group jumped in Shanghai after it guided for a swing to profit for the first three quarters this year. \n</p>\n<p>\n  The stock was up 5.65% early Friday, outperforming the benchmark Shanghai Composite Index, which was down 1.7%. \n</p>\n<p>\n  The gains came after the company said overnight that it expects to post a net profit for the first nine months of the year. It projects profit for the period at between 3.5 billion yuan to 4.1 billion yuan, or about $494 million to $579 million, compared with a loss a year earlier. \n</p>\n<p>\n  Seres, which has a partnership with tech giant Huawei for in-car software and assisted driving, is a relative newcomer to China's fiercely competitive electric-vehicle market, but is in the top 10 in terms of sales, the most recent monthly figures show. \n</p>\n<p>\n  In September, the automaker sold 35,852 cars, taking the no. 9 spot in sales, according to data from the China Passenger Car Association. \n</p>\n<p>\n  Seres has also guided for revenue for the first three quarters to rise more than six-fold to between 103.0 billion yuan and 110.0 billion yuan. \n</p>\n<p>\n  Earnings growth has been supported by product-mix adjustments, the company said in a filing, adding that its high-value cars have posted strong sales so far this year. \n</p>\n<p>\n  The company booked a net profit of 1.62 billion yuan for the first half of the year, compared with a net loss of 1.34 billion yuan a year earlier. It reported revenue of 82.42 billion yuan for the six-month period. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Jiahui Huang at jiahui.huang@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 10, 2024 22:52 ET (02:52 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Seres Group Shares Rise After It Guides for Swing to Profit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSeres Group Shares Rise After It Guides for Swing to Profit\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-11 10:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Jiahui Huang \n\n\n \n\n\n  Shares of Chinese automaker Seres Group jumped in Shanghai after it guided for a swing to profit for the first three quarters this year. \n\n\n  The stock was up 5.65% early ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK0264","symbol_name":"汽车制造","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2474082367","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2474082367","pubTimestamp":1728615120,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of Chinese automaker Seres Group jumped in Shanghai after it guided for a swing to profit for the first three quarters this year.The stock was up 5.65% early Friday, outperforming the benchmark Shanghai Composite Index, which was down 1.7%.The gains came after the company said overnight that it expects to post a net profit for the first nine months of the year. It projects profit for the period at between 3.5 billion yuan to 4.1 billion yuan, or about $494 million to $579 million, compared with a loss a year earlier.Seres, which has a partnership with tech giant Huawei for in-car software and assisted driving, is a relative newcomer to China's fiercely competitive electric-vehicle market, but is in the top 10 in terms of sales, the most recent monthly figures show.In September, the automaker sold 35,852 cars, taking the no. 9 spot in sales, according to data from the China Passenger Car Association.Seres has also guided for revenue for the first three quarters to rise more than ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"601127":"赛力斯","BK0264":"汽车制造","BK0185":"二线龙头","BK0014":"新能源汽车","BK0028":"国家队","BK0201":"可转债","BK0012":"证金概念"},"translate_title":"Seres Group引导扭亏为盈后股价上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"601127":0.9},"content_text":"By Jiahui Huang \n\n\n \n\n\n  Shares of Chinese automaker Seres Group jumped in Shanghai after it guided for a swing to profit for the first three quarters this year. \n\n\n  The stock was up 5.65% early Friday, outperforming the benchmark Shanghai Composite Index, which was down 1.7%. \n\n\n  The gains came after the company said overnight that it expects to post a net profit for the first nine months of the year. It projects profit for the period at between 3.5 billion yuan to 4.1 billion yuan, or about $494 million to $579 million, compared with a loss a year earlier. \n\n\n  Seres, which has a partnership with tech giant Huawei for in-car software and assisted driving, is a relative newcomer to China's fiercely competitive electric-vehicle market, but is in the top 10 in terms of sales, the most recent monthly figures show. \n\n\n  In September, the automaker sold 35,852 cars, taking the no. 9 spot in sales, according to data from the China Passenger Car Association. \n\n\n  Seres has also guided for revenue for the first three quarters to rise more than six-fold to between 103.0 billion yuan and 110.0 billion yuan. \n\n\n  Earnings growth has been supported by product-mix adjustments, the company said in a filing, adding that its high-value cars have posted strong sales so far this year. \n\n\n  The company booked a net profit of 1.62 billion yuan for the first half of the year, compared with a net loss of 1.34 billion yuan a year earlier. It reported revenue of 82.42 billion yuan for the six-month period. \n\n\n \n\n\n  Write to Jiahui Huang at jiahui.huang@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 10, 2024 22:52 ET (02:52 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2474082367"}