On August 29th, Seres officially released its financial report data for the first half of this year. The data shows that Seres’ total revenue in the first half of this year reached 62.402 billion yuan, a year-on-year decrease of 4.06%. Its net profit in the first half of the year stood at 2.941 billion yuan, a year-on-year increase of 81.03%, and the gross profit margin was 28.93%, which rose by 4.87 percentage points compared with 24.06% in the same period of the previous year.
Regarding the growth of net profit, the official stated that it is mainly due to the significant sales growth of its high-end intelligent vehicles, which has driven a substantial increase in the company’s profits. Data indicates that the cumulative sales volume of new energy vehicles in the first half of this year was 172,108 units, among which the cumulative delivery volume of the AITO series reached 147,000 units. Additionally, it was pointed out that relying on the Magic Cube Technology Platform, the company launched a number of new models in succession this year, including the 2025 AITO M9 EREV version, AITO M9 BEV version, AITO M8 EREV version, and AITO M8 BEV version. Data shows that the cumulative delivery volumes of the AITO M9 and AITO M8 in the first half of this year were 62,000 units and 35,000 units respectively.
Looking ahead, Seres stated that it will continue to increase investment in R&D and manufacturing systems. Furthermore, it revealed that the “Magic Cube Platform”, as the company’s key product architecture platform, has achieved large-scale application of multiple models in the first half of the year, covering major sales models such as the AITO M9 and AITO M8. Through the generalization of modules including chassis, batteries, and three-electric systems, this platform has significantly improved the development efficiency of new models while reducing marginal development costs, providing support for the expansion of the company’s product line. In terms of financial structure, the company will subsequently increase the scale of net assets by issuing shares to acquire new energy assets and introducing strategic investments. By the end of June, the net assets attributable to shareholders of the listed company had increased by 118.2% year-on-year. This provides a more solid financial support for future capital expenditures, technological R&D, and production capacity expansion, while enhancing the ability to resist external risks.
Certainly, the substantial growth of Seres’ net profit in the first half of this year is related to the continuous iteration, upgrading, and launch of new models of its AITO series. Since the beginning of this year, new models such as the AITO New M5 Ultra, 2025 AITO M9, and AITO M8 have been launched successively. Among them, the 2025 AITO M9 and AITO M5 Ultra were released on March 20th this year. The 2025 AITO M9 launched a total of 7 models, with a price range of 469,800 yuan to 569,800 yuan; the AITO M5 Ultra has a starting price of 229,800 yuan. On April 16th, the AITO M8 EREV version was officially launched, with a total of 6 models available and a price range of 359,800 yuan to 449,800 yuan. On August 25th, the AITO M8 BEV version was officially released, offering 6 models with a price range of 359,800 yuan to 449,800 yuan. This new model is developed based on Huawei’s Whale 800V high-voltage battery platform, equipped with Huawei’s high-voltage 7-in-1 electric drive, and all models are matched with CATL’s 100kWh battery, with a maximum CLTC range of 705 kilometers.
Benefiting from the update and launch of products, the sales volume of AITO has grown by leaps and bounds. According to the plan, Seres’ sales target for this year is 530,000 to 550,000 units. Currently, Seres’ cumulative sales volume is 216,689 units, and there are still certain challenges to achieve the sales target.
