SERES (09927) surged over 8%, up 7.6% at HK$48.16 as of writing, with a trading volume of HK$153 million. On the news front, on July 29, the AITO M6 user factory acceptance delivery ceremony was held at the Chongqing SERES Super Factory (Longxing). The successful completion of this delivery event marks the official start of deliveries for the AITO M6 Pure Electric Max+. It is worth noting that the recently launched AITO M6 and the facelifted AITO M9 have shown strong potential to become blockbuster models. The all-new AITO M9 series achieved over 42,000 firm orders within one month of launch, while the AITO M6 surpassed 30,000 cumulative deliveries in 54 days.

Analysts at Kaiyuan Securities believe that with the launch of the AITO M6 Pure Electric Max+/Max versions, the price points have been lowered to RMB 229,800 and RMB 249,800, respectively, significantly reducing the entry barrier compared to the previous four-wheel-drive high-end versions priced at RMB 259,800-299,800. This is expected to contribute incremental volume as deliveries commence. Looking ahead, Kaiyuan Securities sees multiple catalysts for the company: AITO is firmly pursuing high-end overseas expansion, starting with neighboring countries and adopting a phased approach to secure new sales growth drivers. The company has also launched the Seres technology brand, AIVA, which targets a young and sporty positioning, with its first model expected to be introduced within 2026. Additionally, the company's first humanoid robot, "Xiaosai," has made its debut, and more types of embodied intelligent robots are in preparation, with an official release scheduled for 2026. Furthermore, the Seres super factory is already equipped with multiple robots, and the robot business is expected to become a new growth curve in the future.