SERES Hits Record 2025 Performance: AITO Sales Exceed 426,000 Units, New Energy Gross Margin Reaches 28.8%

On March 31, Seres Group released its 2025 financial report: full-year revenue reached RMB 165.05 billion, up 13.7% year-over-year; net profit attributable to shareholders was RMB 5.96 billion, marking the company’s second consecutive year of profitability. Total vehicle sales amounted to 516,900 units, including 472,300 new energy vehicles (NEVs), an increase of 10.63% year-over-year. Deliveries of the AITO series exceeded 426,000 units, solidifying its position as China’s top-selling luxury brand. Its flagship model, the M9, delivered over 110,000 units, retaining its title as the best-selling model in the RMB 500,000+ segment. Benefiting from an optimized product mix, the gross margin for NEVs rose to 28.8%, driving total gross profit to RMB 44.324 billion, a significant 28.29% increase year-over-year. R&D investment for the year totaled RMB 12.51 billion, surging 77.4% and supporting continuous iteration of premium models. Operating cash flow reached RMB 28.12 billion, up 27.89% year-over-year, providing a solid foundation for future growth.