Why is Seres stock sliding today?

Seres Group's stock experienced a 4.5% drop to HK$38.18 on Wednesday, as the company's August 2026 operating data disappointed investors expecting a surge in demand. The automaker announced that they produced and sold approximately 26,500 and 27,700 vehicles respectively in August, bringing their cumulative totals for 2026 to about 250,200 units produced and 250,900 units sold in the first eight months.

However, August sales declined by 40% compared to the previous year, a stark contrast to the positive growth seen among other Chinese electric vehicle manufacturers. This sales slump raised concerns about intense competition in the domestic market.

Meanwhile, on the macro front, the Hang Seng Index declined by approximately 0.8% for the third consecutive day due to heightened geopolitical risk from new U.S. military actions near the Strait of Hormuz, which pushed crude oil prices significantly higher. Additionally, rising US Treasury yields and hawkish Federal Reserve expectations further dampened the appetite for growth-oriented equities in Hong Kong's market, particularly affecting NEV makers and technology-adjacent stocks.