SERES' Phoenix Tech Boosts Registered Capital to RMB 5.5B to Accelerate Embodied AI Push

Recently, Chongqing Phoenix Technology Co., Ltd.—a subsidiary of Seres Group—completed a business registration amendment, increasing its registered capital from RMB 50 million to RMB 550 million, a 1,000% increase. In March 2025, Seres established Phoenix Technology; in April of the same year, Phoenix Technology jointly founded Beijing Saihang Embodied Intelligence Technology Co., Ltd. with Beihang University, with Seres holding a 70% stake. In October, Phoenix Technology, on behalf of Seres, signed a cooperation agreement with Volcano Engine, a subsidiary of ByteDance. In February 2026, Seres Group acquired full ownership of Phoenix Technology and, at the beginning of 2026, deconsolidated its previously controlled brand Landian Auto from its financial statements. As of 2026, Phoenix Technology had filed a total of 74 patent applications and launched its humanoid robot “Xiao Sai” for commercial operations in June of that year, with plans to roll out multiple embodied intelligence robots within the year. Meanwhile, Seres Group’s interim earnings forecast for the first half of 2026 indicated an expected net loss attributable to shareholders of RMB 1.5 billion to RMB 1.8 billion, compared to a profit during the same period in 2025.