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Investing.com - Jefferies downgraded Seres Group Co Ltd (601127:CH) from Buy to Hold on Monday, lowering its price target to RMB144.30 from RMB151.01 following the company’s third-quarter results.
Seres Group reported revenue of RMB48.1 billion for the third quarter of 2025, representing a 15.8% year-over-year increase, while net profit declined 1.7% year-over-year to RMB2.4 billion.
The net profit figure came in 30% below Jefferies’ estimates, primarily due to surging operating expenses, with selling, general and administrative expenses as a percentage of sales increasing 3.2 percentage points year-over-year to 16.8%.
During the analyst call, Seres management provided guidance for domestic car sales exceeding 600,000 units in 2026, noting that exports could offer additional upside potential.
The company’s overseas strategy will initially focus on establishing a flagship presence in the Middle East before expanding into European markets.
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