Seres H1 2026 Revenue Falls 7.87% to RMB57.493 Billion; Net Loss RMB1.717 Billion

On August 19, 2026, Seres Group released its 2026 semi-annual report. The report showed that in the first half of 2026, Seres' operating revenue was approximately RMB57.493 billion, down 7.87% year on year. The company explained that the revenue decline was mainly due to changes in product sales structure, with main models in a product transition period in the second quarter, and production capacity and sales scale effects not fully released.

In the first half, the company's new energy vehicle sales were approximately 178,800 units, up 3.87% year on year. Among them, Seres-branded vehicle sales were approximately 160,800 units, up 5.6% year on year.

During the reporting period, Seres' net loss attributable to shareholders of the listed company was approximately RMB1.717 billion, down 158.38% year on year. The company said that in the face of rising upstream raw material prices, it insisted on not passing on costs by lowering parts quality standards, resulting in temporary pressure on operating profit. During the reporting period, the company's gross margin was 23.3%, down 5.6 percentage points year on year.

The company also made impairment provisions for some existing assets with limited adaptability. In the first half, total profit was negative RMB2.353 billion, down 163.18% year on year. The reasons include changes in product sales structure, temporary increases in prices of core components such as batteries and chips, and the combined impact of related asset impairment provisions.