Seres Reports 34.5% Revenue Growth in First Quarter
Chinese luxury electric vehicle manufacturer Seres announced first-quarter revenue of 25.75 billion yuan, a year-on-year increase of 34.5%. The company maintained a steady profit.
Seres, a leading Chinese manufacturer of luxury new energy vehicles, reported its first-quarter financial results, with revenue reaching 25.75 billion yuan. This marks a significant year-on-year increase of 34.5%. The company also maintained a steady profit, reporting a net income of 750 million yuan attributed to shareholders.
Total sales for the first four months of the year exceeded 110,000 new energy vehicles, representing a 29.74% increase compared to the same period last year. This growth highlights the strengthening competitiveness of the AITO brand in the premium new energy vehicle market. The brand has established a comprehensive product matrix covering mid-to-large luxury SUV segments.
The recently launched AITO M6, priced between 250,000 to 300,000 yuan, has garnered significant consumer interest, with over 10,000 pre-orders within 15 minutes of its launch and large-scale deliveries now underway. Additionally, the next-generation AITO M9 has received over 35,000 pre-orders, showcasing strong demand for its advanced features in intelligent driving, cabin experience, and chassis control, further solidifying its position in the luxury large SUV segment.
Seres continues to prioritize research and development, investing 1.79 billion yuan in the first quarter, a 70.68% increase year-on-year. These investments are directed towards technological advancements, including its power-train platform, intelligent chassis systems, and AI integration across vehicle systems and production. The company's commitment to innovation is further demonstrated by its robust dividend distribution and share repurchase programs, reflecting confidence in its financial health and long-term value.