SERES (09927) stock soared 9.36% during the morning trading session, leading a broader recovery in automotive stocks.

The positive movement is supported by data showing that vehicle exports in April reached a new monthly record of 902,000 units, marking a month-on-month increase of 3.0% and a year-on-year surge of 74.4%. Additionally, production and sales of new energy vehicles in April amounted to 1.32 million and 1.344 million units, respectively, representing year-on-year growth of 5.5% and 9.7%. The penetration rate of new energy vehicles hit a new monthly high of 53.2%, up by 10 percentage points from the previous month.

Analysis indicates that export performance, particularly for electric vehicles, has consistently exceeded expectations in the first four months, repeatedly setting new records. This growth is attributed to a non-linear increase in overseas sales this year. Looking ahead, there remains a high likelihood that export figures will continue to surpass expectations, with full-year export sales projected to reach 8.6 million units.