Seres Group (SERES) reported 2025 audited results showing revenue of RMB 164.89 billion, a 13.63% increase from 2024, driven by 10.63% higher new-energy vehicle (NEV) sales to 472,300 units. Gross profit rose 28.29% to RMB 44.32 billion.

\n\nProfit before tax advanced 50.86% to RMB 7.47 billion, while profit for the year reached RMB 6.15 billion, up 29.67%. Net profit attributable to shareholders edged up 0.18% to RMB 5.96 billion; basic earnings per share stood at RMB 3.68.

\n\nA final cash dividend of RMB 0.80 per share is proposed, bringing total 2025 cash distributions— including the RMB 0.31 interim payment— to RMB 1.90 billion, equal to 31.90% of attributable net profit.

\n\nResearch and development spending expanded 42.4% to RMB 7.95 billion as Seres deepened investment in intelligent-electric vehicle platforms and AI-driven technologies. Total R&D outlays, including capitalised costs, reached RMB 12.51 billion.

\n\nThe balance-sheet strengthened following the November 2025 Hong Kong H-share listing and the share-based acquisition of Longsheng New Energy. Total assets climbed to RMB 143.91 billion, up 52.50%, while equity attributable to shareholders more than tripled to RMB 40.92 billion. The asset-liability ratio fell to 70.91% from 87.38% a year earlier.

\n\nOperationally, flagship brand AITO delivered 426,000 vehicles, up 10.1% year on year. Average transaction price for AITO models improved 3.7% to RMB 391,000. Gross margin on NEV sales increased 2.75 percentage points to 26.58%.

\n\nCapital raised from the HK listing (RMB 12.86 billion net) is earmarked for platform R&D, new model development, marketing network expansion, overseas growth and super-charging infrastructure, with utilisation scheduled through 2028.

\n\nLooking ahead, Seres plans to maintain high R&D investment, expand premium product lines, accelerate overseas rollout—starting with the Middle East and Central Asia—and continue building its ultra-fast charging network targeting 5,000 stations within three years.