Seres Group Co.,Ltd. engages in the research and development, production, sales, and servicing of new energy vehicles and components in China and internationally. It offers vehicles, powertrains, batteries, and electric motors. The company was formerly known as Chongqing Sokon Industry Group Stock Co.,Ltd. and changed its name to Seres Group Co.,Ltd. in July 2022. Seres Group Co.,Ltd. was founded in 1986 and is based in Chongqing, China.
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Seres reports net loss of 1.717 billion yuan in 2026 interim report
Seres released its 2026 interim report, with net profit attributable to the parent company swinging from profit to loss, recording a loss of 1.717 billion yuan. The company's total operating revenue was 57.493 billion yuan, down 7.87% year-on-year; net cash outflow from operating activities was 12.376 billion yuan. The latest asset-liability ratio was 68.33%, gross margin was 23.30%, ROE was -4.58%, and diluted earnings per share was -0.99 yuan.
EU approves Mercedes, BMW and Seres joint control of Ionchi
The European Commission has approved Mercedes-Benz China, BMW Brilliance Automotive and Seres Group taking joint control of Beijing IONCHI New Energy Technology, known as Ionchi. Ionchi had previously been under the joint control of Mercedes and BMW, and following the approved transaction, Seres becomes a third joint owner of the venture. Ionchi was established in 2024 and operates public high-power charging infrastructure and charging service networks for electric vehicles in China, combining fast charging with station operation, maintenance, customer service and the use of 100% renewable energy. The deal received clearance under the European Union Merger Regulation following the simplified merger review procedure, and according to the Commission, the transaction does not raise competition concerns given its limited impact on the European Economic Area. The approval follows an announcement made in April that Seres would become an equal shareholder in Ionchi, joining BMW and Mercedes-Benz, with each of the three companies holding a 33.3% stake in the joint venture.
Seres reports first-half revenue of 57.493 billion yuan; AITO deliveries up 10.2% year on year
Seres released its 2026 semi-annual report, with first-half operating revenue reaching 57.493 billion yuan and research and development investment totaling 7.007 billion yuan, up 34.8% year on year. Cumulative deliveries of its AITO brand rose 10.2% year on year in the first half. The all-new AITO M9 and AITO M6 were both launched and delivered during the period, with the M9 ranking as the sales champion in the 500,000-yuan class segment for two consecutive months. The AITO M9 Ultimate version, whose starting price has been raised to 600,000 yuan, is about to begin deliveries.
Shanghai-Listed Companies Step Up Buybacks and Shareholder Increases This Year as Industrial Capital Continues to Flow In
A wave of share buybacks and shareholder increases continues to surge among companies listed on the Shanghai Stock Exchange, with the pace of industrial capital entering the market notably accelerating. Over the past week, 42 new buyback plans were added on the Shanghai market, with a maximum amount of 8.386 billion yuan, and 17 new shareholder increase plans were added, with a maximum amount of 7.457 billion yuan. Since the start of 2026, the Shanghai market has disclosed 190 new buyback plans, with a combined maximum amount reaching 55.5 billion yuan, and 155 new shareholder increase plans, with a maximum amount of 22.1 billion yuan. Many companies are making big moves. The chairman of NARI Technology proposed a buyback of 500 million to 1 billion yuan, the chairman of Daqin Railway proposed a buyback of 400 million to 500 million yuan, Sany Heavy Industry plans to buy back 400 million to 800 million yuan, and Yifeng Pharmacy Chain plans to buy back 200 million to 300 million yuan. The implementation of funds is also speeding up. Haier Smart Home has cumulatively bought back 1.817 billion yuan in this round, Seres has cumulatively bought back over 587 million yuan, Metallurgical Corporation of China has completed transactions totaling about 415 million yuan, and Chenguang Stationery has paid a total of 288 million yuan. On the shareholder increase side, the controlling shareholder of China Three Gorges Renewables plans to increase holdings by 1.5 billion to 3 billion yuan, the controlling shareholder of Aluminum Corporation of China plans to increase holdings by 1 billion to 2 billion yuan, and the controlling shareholder of China State Construction Engineering plans to increase holdings by 500 million to 1 billion yuan.
Shanghai-listed companies launch new buyback and shareholding increase plans worth up to 15.8 billion yuan in the past week
Over the past week, Shanghai-listed companies launched 42 new buyback plans with a maximum value of 8.386 billion yuan, and 17 new shareholding increase plans with a maximum value of 7.457 billion yuan, totaling up to 15.8 billion yuan. NARI Technology's chairman proposed a buyback of 500 million to 1 billion yuan, Daqin Railway's chairman proposed a buyback of 400 million to 500 million yuan, Sany Heavy Industry plans a buyback of 400 million to 800 million yuan, Haier Smart Home has spent a total of 1.817 billion yuan on buybacks, and Seres has repurchased over 587 million yuan. On the shareholding increase side, China Three Gorges Renewables' controlling shareholder plans to increase holdings by 1.5 billion to 3 billion yuan, Aluminum Corporation of China's controlling shareholder plans to increase holdings by 1 billion to 2 billion yuan, and China State Construction's controlling shareholder plans to increase holdings by 500 million to 1 billion yuan. On the STAR Market, more than 30 companies announced buyback-related announcements within a week, with Montage Technology planning a buyback of 300 million to 600 million yuan, Kingsoft Office setting a buyback cap of 500 million yuan, and multiple companies disclosing positive half-year earnings forecasts or research breakthroughs.
On the evening of July 14, several listed companies including Yuanwanggu, Yahua Electronics, and Sanyou Medical disclosed buyback plans, while Seres, Haitian Precision, and Jack Technology announced shareholding increases by controlling shareholders or senior executives. Yuanwanggu plans to repurchase shares worth 50 million to 100 million yuan for equity incentives or employee stock ownership plans, having just implemented a 2025 cash dividend of 10.0015 million yuan. Directors, senior executives, and key team members of Seres plan to increase their holdings of A-shares and H-shares by a total of no less than 119 million yuan and no more than 154 million yuan, following an earlier shareholding increase plan announced by the controlling shareholder Xiaokang Holdings. Haitian Precision's controlling shareholder Haitian Co. increased its holdings by 1.3388 million shares on the same day, with an amount of 24.6658 million yuan, and plans to continue increasing holdings by a total of 25 million to 50 million yuan within six months. Market participants believe that listed companies are taking concrete actions to reshape market expectations, and regulatory authorities are continuously improving institutional arrangements to promote the use of buyback and shareholding increase tools.
Multiple Companies on Shanghai and Shenzhen Exchanges Release Half-Year Performance Forecasts; Tianqi Lithium's Net Profit Expected to Surge Nearly 50-Fold
On the evening of July 14, numerous listed companies on the Shanghai and Shenzhen stock exchanges released their half-year performance forecasts and major event announcements. Tianqi Lithium expects its net profit attributable to the parent company for the first half of the year to be between 2.85 billion and 4.25 billion yuan, representing a year-on-year increase of 3,276.35% to 4,934.91%, one of the highest growth rates. Yangtze Optical Fibre and Cable, Litong Electronics, and Estun Automation all expect net profit growth exceeding tenfold, with Litong Electronics seeing significant growth in its computing power distribution business. The photovoltaic industry remains under pressure, with LONGi Green Energy forecasting a loss of 3.4 billion to 3.8 billion yuan, and Tongwei Co. forecasting a loss of 4.8 billion to 5.4 billion yuan. In terms of major events, Changxin Technology has set its issue price at 8.66 yuan per share, with a total offering size of 57.919 billion yuan, and subscriptions will open on July 16. CICC's application to absorb and merge Dongxing Securities and Cinda Securities has been accepted by the China Securities Regulatory Commission. Saiyi Information plans to purchase high-performance computing power servers for no more than 5.079 billion yuan. Additionally, several companies disclosed share increase or decrease plans, with Seres directors and senior management planning to increase their holdings by 119 million to 154 million yuan, and Jingwei Hirain and Runjian Co. planning share buybacks.
Passenger car concept weakens in trading; institutions say the sector faces "domestic demand pressure, strong exports, and structural divergence"
On July 13, the passenger car concept fell 2.95% during the session. Seres dropped 6.89%, GAC Group fell 4.24%, BYD declined 2.54%, BAIC BluePark lost 1.86%, and Changan Automobile slipped 1.83%. According to data from the China Passenger Car Association, retail sales of passenger cars nationwide reached 169,000 units from July 1 to 5, down 15% year-on-year. New energy vehicle retail sales totaled 103,000 units, down 9% year-on-year, with a new energy penetration rate of 60.5%. A research note from GF Securities pointed out that the passenger car industry in 2026 is characterized by "domestic demand pressure, strong exports, and structural divergence." From January to May, domestic terminal sales fell 18.22% year-on-year, while exports over the same period surged 70.0% year-on-year. Among these, pure electric and plug-in hybrid exports grew 94.0% and 148.7% respectively. The full-year export growth forecast has been raised to 40% to 45%. Structurally, sales in the sub-100,000 yuan market plunged 34.5%, while the premium market above 400,000 yuan achieved a positive growth of 1.4%. The "5326" SUV segment saw sales buck the trend with a 56.9% increase, and its new energy penetration rate reached 94.5%.
SERES Hits Daily Limit Down as AITO Auto Warns of Over 1 Billion Yuan Loss
SERES hit its daily limit down during trading on July 13, with the share price touching a low of 53.91 yuan, the lowest since February 7, 2024. The stock has fallen more than 68 percent since last October, and its latest market capitalization stands at around 93.9 billion yuan. The company issued a profit warning after the market close on July 12, forecasting a net loss attributable to shareholders of the listed company of between 1.5 billion and 1.8 billion yuan for the first half of 2026. Its core subsidiary AITO Auto is expected to post a loss of between 1.05 billion and 1.3 billion yuan. The company said rising prices of raw materials such as memory chips, industrial metals, and lithium carbonate have driven up production costs, and it has adjusted the book value of some existing assets. AITO Auto swung to a net loss of between 1.9 billion and 2.15 billion yuan in the second quarter. Although SERES's new energy vehicle sales totaled 178,777 units in the first half, up 3.87 percent year on year, AITO sold 30,331 units in June, down 30.19 percent year on year, marking the second monthly decline in the first half. Several other automakers, including GAC Group and JAC Motors, also issued profit warnings due to intensifying industry competition and rising raw material costs. SERES Group Chairman Zhang Xinghai said memory chip prices have risen fivefold, lithium carbonate has climbed from 80,000 yuan per ton a year ago to 180,000 yuan per ton, and the per-vehicle cost for the AITO brand has increased by 15,000 to 20,000 yuan.