Seres Swings to Net Loss of 1.7 Billion Yuan in H1 on Model Transition | Financial Report Insights

Seres reported a net loss attributable to shareholders of 1.717 billion yuan in the first half, down 158.38% year-on-year, with operating revenue of 57.493 billion yuan, down 7.87% year-on-year. The company attributed the loss to the transition period for its main models' product iterations, phased price increases in core components such as batteries and chips, and the combined impact of related asset impairment provisions.