Seres Group Co.,Ltd. (SH: 601127) has released its interim report for the first half of 2026, revealing total revenue of 57.493 billion yuan, a year-on-year decline of 7.87%. The company recorded a net loss attributable to shareholders of 1.717 billion yuan, swinging from a profit in the prior-year period.

Non-GAAP net profit, excluding non-recurring items, also turned negative, reaching a loss of 2.379 billion yuan, with basic earnings per share at -0.99 yuan. The revenue drop was primarily attributed to shifts in the product sales mix, as the company's main models entered a transitional phase during the second quarter, preventing the full realization of production capacity and sales scale effects.

Total profit for the period stood at -2.353 billion yuan, down 163.18% from a year earlier. The deterioration in profitability was driven by a combination of factors, including the evolving product structure, the second-quarter transition period for key models, a temporary surge in prices of core NEV components such as batteries and chips, and the impact of related asset impairment provisions.