Seres Forecasts H1 2026 Loss of RMB 2.2–2.5 Billion, Dragged Down by Aito Auto Losses

Seres Group (SHA: 601127) released a profit warning on July 12, forecasting a net loss attributable to shareholders of RMB 2.2 billion to RMB 2.5 billion for the first half of 2026 after deducting non-recurring gains and losses—shifting from a net profit of RMB 24.7 billion in the same period of 2025. Its wholly owned subsidiary, Seres Automobile Co., Ltd. (also known as Aito Motor), is expected to report a net loss of RMB 1.7 billion to RMB 1.95 billion for the first half of 2026 after deducting non-recurring items. Specifically, Aito Motor’s net loss for the second quarter of 2026 alone is projected to reach RMB 19 billion to RMB 21.5 billion. The company attributed the performance decline primarily to rising raw material prices—including memory chips, industrial metals, and lithium carbonate—which increased production costs, as well as asset impairment adjustments resulting from product and technological iterations.