On August 29, Seres Group Co., Ltd. (hereinafter referred to as “Seres”) released its financial results for the first half of 2025.
According to the report, Seres recorded revenue of 62.402 billion RMB, down 4.06% year-on-year. However, profitability surged:
Total profit: 3.725 billion RMB, up 119.22% YoY
Net profit attributable to shareholders: 2.941 billion RMB, up 81.03% YoY
Net profit excluding non-recurring items: 2.474 billion RMB, up 72.14% YoY
For comparison, in the first half of 2024, Seres achieved revenue of 65.044 billion RMB, total profit of 1.699 billion RMB, and net profit of 1.625 billion RMB (1.437 billion RMB excluding non-recurring items).
Profitability Drivers
Despite the revenue decline, Seres explained that profits grew sharply due to the launch of new products in Q2 2025, which significantly boosted sales compared to Q1. The company also reported higher gross margins and improved operational efficiency.
As of mid-2025, net assets attributable to shareholders stood at 26.761 billion RMB, up 118.20% YoY. Seres attributed this growth to its equity acquisition of Chongqing Liangjiang New Area Longsheng New Energy Technology Co., Ltd., capital increases by minority shareholders of Seres Automobile, and profit contributions.
Investment in Technology & Product Strategy
Seres has invested nearly 30 billion RMB in R&D for high-end intelligent EVs, developing the “Cube Technology Platform”, which emphasizes independent innovation and continuous evolution. Based on this platform, Seres launched several new models in 2025, including the AITO M9 (range-extended and pure electric), AITO M8 (range-extended and pure electric), breaking away from single-model development inefficiencies.
Currently, Seres’ AITO brand offers four models: the M5, M7, M9, and M8, covering the 200,000–600,000 RMB price range. On August 25, the AITO M8 EV was launched with six variants, priced between 359,800 RMB and 449,800 RMB (approx. $49,900 – $62,300 USD). It features Huawei’s high-voltage 7-in-1 electric drive system and a 100 kWh CATL battery, offering up to 705 km CLTC range.
Sales Performance
In the first half of 2025, Seres’ NEV sales reached 172,100 units, down 14.35% YoY. Seres Automobile contributed 152,200 units, down 16.63% YoY.
By model:
AITO M9: 62,400 units (best-seller)
AITO M8: 35,200 units
AITO M7: 33,800 units
AITO M5: 16,300 units
Despite lower volumes, Seres remains a leading player in China’s high-end NEV segment, supported by strong demand for the AITO lineup.
Financial Position
As of June 30, 2025, Seres’ total assets reached 112.912 billion RMB, up 19.66% YoY.
