Seres Partners with Chongqing Shapingba District to Launch New Company Focused on High-End Aito Development

On February 8, Seres signed an agreement with the Chongqing Shapingba District government to jointly establish a new company, focusing on advancing the premium positioning and scaling up of the AITO brand. The equity structure of the new company is as follows: the Shapingba District government platform holds 33.5% (making it the largest shareholder), Seres and its affiliates hold 32%, external investors hold 18.5%, and employee stock ownership accounts for 16%. As a result, Seres has transitioned from a controlling stake to a minority stake, removing the new entity from its consolidated financial statements. This move effectively lowers Seres’ debt-to-equity ratio, improves cash flow, and spins off its low-end Landian automotive business—which sells approximately 20,000 units annually—thereby reducing financial reporting burdens. The strategic shift aims to concentrate resources on technological iteration and capacity expansion for AITO, while leveraging government capital to achieve risk isolation and strengthen synergy with local policy support and resources. As of January 2026, cumulative AITO sales have surpassed one million units, establishing it as Seres’ core growth engine.