SERES (09927.HK): Expected H1 Net Loss Attributable to Parent of RMB1.5–1.8 Billion, Swing from Profit to Loss
NewTimeSpace News: SERES Group Co., Ltd. (09927.HK) issued an H1 2026 profit warning. It expects a net loss attributable to listed parent shareholders ranging from RMB1.5 billion to RMB1.8 billion, compared with a profit of RMB2.941 billion in the same period last year, representing a swing from profit to loss. Core subsidiary AITO Automobile is projected to record a net loss of RMB1.05–1.3 billion.
NewTimeSpace News: On 12 July 2026, SERES (09927.HK) released a profit warning announcement. Based on preliminary financial assessment, the Company expects the net loss attributable to shareholders of the listed company for the first half of 2026 to be between RMB1.5 billion and RMB1.8 billion, turning into a loss versus a profit of RMB2.941 billion registered in the corresponding period last year. The anticipated net loss excluding non-recurring gains and losses stands at RMB2.2 billion to RMB2.5 billion.
Core subsidiary AITO Automobile is expected to post a net loss of RMB1.05 billion to RMB1.3 billion, with its standalone Q2 net loss attributable to parent shareholders estimated at RMB1.9 billion to RMB2.15 billion.
The performance shift is mainly driven by rising prices of key raw materials including memory chips, industrial metals and lithium carbonate, which lifted production costs. In addition, the Group adjusted the carrying value of certain existing assets amid technology iteration and model upgrades. The Company stated it maintains ample cash reserves and a sound asset-liability structure, supporting sustainable operations.
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