SERES First-Half Revenue Hits RMB 57.493 Billion, AITO Deliveries Up 10.2%
SERES reported RMB 57.493 billion in first-half revenue and a 34.8% R&D jump, while AITO deliveries rose 10.2% year on year.
- RMB 57.493 billion
- RMB 7.007 billion (up 34.8% YoY)
- +10.2% YoY
- 300,000+ units
What Happened
SERES (Stock Code: 9927.HK) announced interim results on 19 August 2026, reporting first-half revenue of RMB 57.493 billion and R&D investment of RMB 7.007 billion, a 34.8% year-on-year increase. The luxury brand AITO delivered 10.2% more vehicles than in the same period last year, with the all-new AITO M9 and AITO M6 both launched and commencing deliveries during the period.
RMB 7.007 billion
34.8% higher than the year-earlier period, spanning architectures, core systems, user experience, AI and intelligent digital applications.
SERES says it maintains a healthy financial structure, sufficient cash reserves and relatively low debt pressure, and that improved asset utilization efficiency has helped reduce operating leverage risk. To enhance shareholder value, it has used cash dividends, share repurchases and shareholder share purchases. As of July 2026, cumulative share repurchases exceeded RMB 587 million, and directors, senior executives and key team members completed share purchases totaling RMB 148 million within three trading days.
The flagship AITO M9 was the best-selling model in the RMB 500,000+ vehicle segment for two consecutive months, with cumulative deliveries surpassing 300,000 units. The AITO M9 Ultimate, starting at RMB 600,000, is set to begin deliveries soon. According to Brand Finance’s 2026 Automotive Industry 100, AITO’s brand value reached US$3.448 billion, ranking it among the top 10 luxury automotive brands globally and the only Chinese brand on the list.
- SERES MF Platform 2.0, next-generation Super Range Extender, and intelligent safety technologies being progressively integrated into products
- Expansion into embodied intelligence and robotics
- Humanoid robots already deployed in scenarios from industrial manufacturing to service applications
- Innovation across underlying architectures, core systems, user experiences, AI, and intelligent digital applications
SERES says that with new products continuing to expand the portfolio and new business initiatives moving toward commercialization, it is positioned to generate stronger growth momentum in the second half of the year.
Previously from SERES Group
A day before these results, SERES reported a first-half attributable loss of RMB 1.72 billion, driven by higher battery and chip costs and a RMB 1.75 billion intangible-asset impairment. That contrast shows the company's revenue growth has yet to translate into bottom-line profitability.
Background drawn from MotorClaw's earlier coverage of SERES Group's official releases.
Why this matters
This shows a Chinese luxury EV maker scaling up fast: revenue and R&D spending are climbing sharply, and its AITO M9 leads the premium segment. Buyers of the upcoming AITO M9 Ultimate and investors watching SERES' share repurchases and executive purchases are directly affected. The company also says it is moving into robotics, suggesting ambitions beyond cars.
Terms in This Story
- NEV
- New Energy Vehicle, a Chinese term for vehicles that run fully or partly on electricity, including battery-electric, plug-in hybrid and fuel-cell vehicles.
- YoY
- Year-over-year, a comparison of a figure for one period with the same period a year earlier.
- RMB
- Renminbi, the official currency of China; also called the Chinese yuan.
- Range extender
- A small internal-combustion engine or generator used in an electric vehicle to charge the battery and extend driving range.
Summarised from the linked release; details can be imperfect — always verify against the original source.