Seres (SHA:601127, HKG:9927) expects to incur a net loss attributable to shareholders of 1.50 billion yuan to 1.80 billion yuan for the first half of 2026, compared with a net profit of 2.94 billion yuan a year earlier, according to a Sunday filing with the Hong Kong bourse.

The expected loss was mainly due to higher production costs driven by rising prices of memory chips, industrial metals and lithium carbonate, as well as asset carrying value adjustments related to technological upgrades and vehicle model iterations, the automaker said.