Seres Group expects H1 2026 net loss of $220 million–$270 million

2026-07-13T02:49:37Z

Seres Group expects H1 2026 net loss of $220 million–$270 million

2026-07-13T02:49:37Z

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Seres Group on Sunday issued a profit warning for the first half of 2026, forecasting a net loss attributable to shareholders of between RMB 1.5 billion ($220 million) and RMB 1.8 billion ($270 million) for the period from January 1 to June 30. The company compares with a net profit of RMB 2.941 billion ($430 million) in the same period last year, which would represent a reversal from profit to loss.

According to the announcement, the expected earnings decline was mainly driven by higher production costs resulting from rising prices of key raw materials, including memory chips, industrial metals, and lithium carbonate. Additionally, the company, based on the principle of prudence, adjusted the carrying value of certain existing assets that had become less suitable due to technology upgrades and model replacements. The company’s core subsidiary, Aito, is expected to swing from a profit to a loss, dragging Seres’ consolidated net profit into negative territory.

The earnings forecast is based on the company’s preliminary calculations and has not been audited by certified public accountants. Final financial results will be disclosed in Seres’ official interim report for the first half of 2026. [