Seres Group (601127) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months reached RMB 110.53 billion, up 3.67% year-over-year, with Q3 revenue at RMB 48.13 billion, a 15.75% increase compared to the same quarter last year.

• Net profit attributable to shareholders for the first nine months was RMB 5.31 billion, up 31.56% year-over-year, despite a slight 1.74% decrease in Q3 net profit compared to the same quarter last year.

• Gross margin improved year-over-year, reflecting enhanced profitability.

Financial highlights

• Operating profit for the first nine months was RMB 6.70 billion, up 68.97% year-over-year.

• Basic and diluted EPS for the first nine months were both RMB 3.34, compared to RMB 2.67 in the prior year period.

• Net cash flow from operating activities for the first nine months was RMB 22.65 billion.

• Total assets at quarter-end were RMB 121.51 billion, up 28.76% from the previous year-end.

• Shareholders’ equity attributable to listed company shareholders increased 126.70% to RMB 27.80 billion.

Outlook and guidance

• Profit growth attributed to a focus on software-defined vehicles, user-centric market orientation, and expanded product portfolio.

• Continued improvement in gross margin and profitability expected.