Seres reported an attributable net loss of 1.72 billion yuan (about $255.0 million) for the first half of 2026, compared with a 2.94 billion yuan profit a year earlier, while revenue fell 7.87% to 57.493 billion yuan (about $8.526 billion). The company attributed the loss to flagship-model transitions, higher battery and chip costs and asset impairments. R&D investment rose 34.8% to 7.007 billion yuan (about $1.039 billion), and operating cash flow fell to negative 12.38 billion yuan from positive 14.64 billion yuan. Seres reported more than 73.15 billion yuan in cash reserves and relatively low debt pressure. AITO deliveries rose 10.2% year over year, the all-new AITO M9 and AITO M6 entered delivery, and the M9 ranked as China's best-selling model in the RMB 500,000-plus segment for two consecutive months; cumulative M9 deliveries exceeded 300,000 units, while an earlier update said more than 20,000 units had been delivered in its first seven weeks. The company is relying on new models, technology investment and its product-mix strategy to restore revenue, profit and cash flow in the second half.