Seres Group Co., Ltd
Native name
赛力斯
FormerlySokon Group
TypePrivate
SSE: 601127
Industry
PredecessorsChongqing Baxian Fenghuang Electronic Factory (1986-1996)

Chongqing Yu'an Shock Absorber Company (1996-2007)

Chongqing Sokon Automobile (2007-2022)
FoundedSeptember 1986 (1986-09)
FoundersZhang Xinghai
Headquarters
Chongqing
,
China
Area served
Worldwide
ProductsAutomobiles, Motorcycle, commercial vehicles, auto parts
Owners
Number of employees
13,238[2]
SubsidiariesDFSK Motor
Seres
XGJAO Motorcycle
Yu'an Shock Absorber Company
Jinkang New Energy
Ruichi Automobile
Websitehttps://en.sokon.com/en/

Seres Group (赛力斯集团股份有限公司) (previously known as Sokon Group or Chongqing Sokon Industry Group Co., Ltd, 重庆小康工业集团股份有限公司)[3] is a Chinese company founded in September 1986 with headquarters in Chongqing, China. Born as a manufacturer of components for household appliances and shock absorbers, it currently produces cars, motorcycles and commercial vehicles as well as shock absorbers and internal combustion engines. In 2022, the company renamed to Seres Group from Sokon Group.[3]

It operates through its subsidiaries Seres, DFSK Motor, XGJAO Motorcycle and Yu'an Shock Absorber Company.[4]

History

The forerunner of the Sokon Group was Chongqing Baxian Fenghuang Electronic Factory (重庆巴县凤凰电器弹簧厂), a company founded in September 1986 by Zhang Xinghai and other shareholders, mainly engaged in the manufacture and sale of Japanese-licensed components for household appliances and springs for automotive seats. The products were destined for both the Chinese and Japanese markets and quickly achieved a market share in the sector of 90%. In September 1996 the Chongqing Yu'an Shock Absorber Company was established with the construction of a new plant for the production of shock absorbers for cars and motorcycles and the plant reached its maximum production capacity of over 1.5 million units per year. The company name became Chongqing Yu'an Innovation Technology (Group).

Given the enormous success in components, Chongqing Yu'an decided to enter directly into the automotive and motorcycle production sector by entering into numerous agreements with both Japanese and Chinese manufacturers to create the new range of vehicles.

In July 2002, XGJAO Motorbyke was founded, a manufacturer of low cost sports motorcycles intended mainly for a young audience and the first models on the market were launched (the F4 followed in the following years by the F5, F6 and F7).

For the automotive production, an agreement was signed with Suzuki for the licensed supply of chassis and engines for microvans and small commercial vehicles and on 27 June 2003, the new Dongfeng Yu'an Automobile 50:50 joint venture with headquarters in Chongqing and assembly plant in Wuhan was founded together with Dongfeng Motor Corporation. Subsequently, an engineering center for the design of electric vehicles called Chongqing Ruichi Automobile Company was created.

In 2005 the first vehicle of the joint venture went into production at the Dongfeng plant in Wuhan: the microvan Dongfeng Yu'an K-Series which was also exported abroad (including Europe).

In May 2007 the entire industrial group changed its name to Chongqing Sokon Automobile Co., Ltd: the Yu'an brand was kept only to identify the production of shock absorbers and components, the Dongfeng Yu'an brand present on the minivans thus became Dongfeng Sokon (abbreviated to DFSK in overseas markets). In May 2012, the millionth vehicle of the Dongfeng Sokon joint venture was produced.

The Seres SF5 produced by Seres, a subsidiary of Seres Group

On 15 June 2016, the Sokon group was listed on the Shanghai Stock Exchange. In the same year, the first SUV-type vehicles, resulting from the joint venture with the Dongfeng group called DFSK Glory 580, went into production. In addition, the start-up SF Motors was founded in Santa Clara, California, with the intention of producing electric vehicles. SF Motors purchased AM General's manufacturing facility and opened three development and design centers for electric vehicles (one in California, one in Michigan and one in Chongqing).[5]

Fengon ix5, made by Sokon subsidiary DFSK Motor

In November 2018, the group restructured, with Sokon acquiring Dongfeng's share in the joint venture for 621 million euros, becoming sole owner of DFSK. In exchange, Dongfeng acquired 26.1% of Sokon for 620 million euros, becoming its majority shareholder.[6]

In January 2019 an agreement was signed with Huawei for the development of information technologies and software for electric vehicles.[7]

To improve the electric vehicle production in April 2022 Sokon signed an agreement with battery maker CATL, which will remain effective from 2022 to 2026.[8]

In July 2022 the company name was changed to Seres Group.[9][3]

Brands and products

Seres

Seres is a brand of electric vehicle marketed by Seres Group. Since 2023, Seres brand has shifted to export brand while AITO became a domestic only brand.[10]

AITO

AITO is a brand Seres Automobile collaborates with Huawei for smart electric vehicle. Huawei is leads in the design of AITO models while Seres conducts in production.

The AITO brand was owned by Seres but was sold to Huawei in June 2023.[11]

Landian

Landian is Seres brand for budget electric vehicles which unveiled in March 2023. The word Landian literally means blue electricity (蓝电) in Chinese.[12]

Fengon

Fengon (or DFSK Glory for foreign markets) formerly known as Dongfeng Fengguang (东风风光), is the sub-brand of Seres that produces passenger vehicles. Established in 2008, Fengon brand targets at affordable compact MPVs and SUVs. It used to be a joint-venture brand with Dengfeng Group but was fully acquired by Seres Group in 2022.

DFSK/Dongfeng Xiaokang (东风小康)

The DFSK is a brand of Seres' that produces light commercial vehicles. It used to be a joint-venture brand with Dongfeng Group but was fully acquired by Seres Group in 2022.

Sales

Seres Group sales[13][14][15]
Year Total DFSK Fengon Landian Seres
2010 226,198 226,198 – –
2011 243,053 243,053 – –
2012 202,991 202,991 – –
2013 205,019 205,019 – –
2014 277,000 277,000 – –
2015 275,316 114,160 161,156 – –
2016 381,636 122,639 258,997 – –
2017 400,038 400,038 – –
2018 347,837 347,837 – –
2019 325,381 325,381 – –
2020 273,590 273,590 – –
2021 266,614 258,445 – 8,169[16]
2022 267,246 187,205 – 80,041[17]
2023 253,181 146,478 106,703[18]

See also

References

  1. ↑ "Profile". Retrieved 7 June 2021.
  2. ↑ "Sokon overview".
  3. 1 2 3 重庆小康工业集团股份有限公司董事会 (12 July 2022). 重庆小康工业集团股份有限公司 关于拟变更公司名称、证券简称的公告 [Chongqing Sokon Industrial Group Co.,Ltd name change and stock symbol change] (PDF). Shanghai Stock Exchange (in Chinese). 601127 2022-070. Archived (PDF) from the original on 13 March 2023. Retrieved 13 March 2023. (listed under 赛力斯 ( 601127 ) 公告)
    • new name: Chinese: 赛力斯集团股份有限公司 / Seres Group Co.,Ltd.
    • current name: Chinese: 重庆小康工业集团股份有限公司 / Chongqing Sokon Industrial Group Co.,Ltd.
  4. ↑ "Sokon: Profile". Retrieved 7 June 2021.
  5. ↑ "SF Motors plans to open EV operations at Indiana plant by end of 2020". 5 June 2021. Retrieved 8 June 2021.
  6. ↑ "Sokon to wholly own Dongfeng Sokon at expense of 26.01% stake offered to Dongfeng Motor Corporation". 19 November 2018. Retrieved 7 June 2021.
  7. ↑ "Sokon, Huawei ally on NEV, ICV, ICT infrastructure". 23 January 2019. Retrieved 8 June 2021.
  8. ↑ "Sokon signs contract with CATL for long-term battery supply". 22 April 2022. Retrieved 14 October 2022.
  9. ↑ "Seres Group Co Ltd, 601127:SHH profile". Financial Times. Archived from the original on 13 March 2023. Retrieved 13 March 2023.
  10. ↑ "公司业务 - 赛力斯集团". www.seres.cn. Retrieved 11 December 2023.
  11. ↑ "重磅！"问界"商标已转让给华为-开源基础软件社区-51CTO.COM". ost.51cto.com. Retrieved 26 June 2023.
  12. ↑ Kang/CnEVPost, Lei (30 March 2023). "Seres unveils new NEV brand Landian and 1st model E5 with BYD, Huawei technology". CnEVPost. Retrieved 28 June 2023.
  13. ↑ "赛力斯(601127)年度报告_新浪财经_新浪网". vip.stock.finance.sina.com.cn. Retrieved 13 April 2023.
  14. ↑ "汽车品牌销量排行榜，汽车品牌销量查询，2023年汽车品牌销量排行榜 - 车主之家". xl.16888.com. Retrieved 13 April 2023.
  15. ↑ "2012年中国汽车销量：增加4.3%为1,931万辆 - MarkLines全球汽车产业平台". www.marklines.com. Retrieved 25 July 2023.
  16. ↑ "小康股份又亏了！"傍上"华为日子也难 - OFweek新能源汽车网". nev.ofweek.com. Retrieved 25 April 2023.
  17. ↑ of which 76,180 are AITO vehicles.
  18. ↑ of which 94,380 are AITO vehicles
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