Seres Hits Revenue of Over RMB 164.8 Billion in 2025, R&D Investment Surges 77%

SERES Group recently released its 2025 financial report: full-year revenue reached RMB 164.888 billion, up 13.63% year-over-year, outpacing the 10.63% growth in new energy vehicle (NEV) sales volume. The company sold 472,300 NEVs, with the average transaction price rising from RMB 377,000 to RMB 391,000, capturing over 20% of the premium NEV SUV market share. Models such as the Aito M7, M8, and M9 delivered strong performance, and the all-new M6 will be rolled out progressively. In terms of profitability, pre-tax profit stood at RMB 7.47 billion, surging 50.86% year-over-year, while net profit attributable to shareholders was RMB 5.957 billion, a slight increase of 0.18%. Gross margin improved to 26.88%, with sales gross margin reaching 29.14%—reportedly among the highest in the industry. R&D investment soared to RMB 12.512 billion, a sharp 77.4% year-over-year increase. The number of R&D personnel grew to 9,019, accounting for 41.1% of the total workforce. Additionally, the company completed two strategic acquisitions: a RMB 11.5 billion investment for a stake in Yinwang Intelligence, and a RMB 8.518 billion acquisition to gain full ownership of Longsheng New Energy, which serves as a core production base for Aito vehicles and has achieved 100% automation in key manufacturing processes.