Does Seres have a new option?

In early 2026, Seres showed a clear divergence between fundamentals and stock performance. Despite strong deliveries and solid earnings, market confidence weakened, even after AITO models continued to lead sales.

The company’s response was the quiet creation of a new subsidiary, “Phoenix,” focused on AI software and intelligent robotics. This move signals Seres’ attempt to break away from a single narrative built almost entirely around Huawei.

As Huawei opens its smart vehicle ecosystem to more partners, Seres is no longer the sole beneficiary. The market is gradually re-rating Seres from a “tech proxy” to a traditional manufacturer, compressing its valuation.

“Phoenix” represents a defensive bet: maintaining Huawei-driven automotive cash flow on one hand, while seeking a second growth story in AI and embodied intelligence on the other. Cooperation with ByteDance’s Volcano Engine further suggests Seres is looking for an additional technological anchor beyond Huawei.

The transition is risky and long-term, but without it, Seres’ valuation would likely remain capped. This shift from cars to intelligent agents may define whether the company can regain imagination in the capital market.