Seres' revenue fell in the first quarter but net profit increased

According to the financial report for the first quarter of 2025 released by SERES, the company's revenue was 19.147 billion yuan, a year-on-year decrease of 27.91%, but its net profit reached 748 million yuan, a year-on-year increase of 240.6%. SERES's M9 sold 23,290 units from January to March, a year-on-year increase of 117.83%, maintaining its leading position in China's 500,000-class luxury car market.