Seres Reports Q3 Net Profit of RMB 2.371 Billion, Down 1.74% YoY

With its stellar Q3 earnings, Seres is poised to enter the global capital market at a higher valuation.

On October 30, Seres officially released its third-quarter 2025 financial report.

The data shows that Q3 2025 revenue reached 48.133 billion yuan, a year-on-year increase of 15.75%. Net profit attributable to the parent company was 2.371 billion yuan, although it experienced a slight decrease of 1.74% compared to the same period last year, the cumulative net profit for the first three quarters reached 5.312 billion yuan, a significant increase of 31.56% year-on-year, indicating continuously strengthening profitability.

The financial report pointed out that the total revenue for the first three quarters reached 110.534 billion yuan, a year-on-year increase of 3.67%. The gross profit margin continued to improve, mainly driven by increased sales of high-end models and the gradual realization of economies of scale. In particular, the strong sales of premium intelligent models like the AITO M9 have significantly boosted overall profitability.

It is worth noting that in an announcement released on October 27, Seres has initiated its H-share global offering plan and is expected to be listed on November 5.

The prospectus discloses that, assuming the over-allotment option is not exercised, the net proceeds from this IPO are estimated to be approximately 12.9 to 13.0 billion Hong Kong dollars.

The company has provided a clear plan for the use of these funds: about 70% will be allocated to technology research and development, 20% for overseas market expansion and charging network construction, and 10% for supplementing working capital.

Seres plans to establish 100 experience centers in Europe, the Middle East, and other regions by 2026, and jointly build a supercharging network with Huawei, aiming to cover 80% of the highways in key international markets.

This listing has attracted numerous cornerstone investors, including 22 well-known institutions such as Chongqing Industrial Mother Fund, Linyuan Fund, GF Fund, and Schroders, collectively subscribing to shares worth approximately 826.5 million US dollars.

Market analysis suggests that with the impressive performance in the Q3 report, the company is expected to enter the international capital market with a higher valuation.