Seres Announces Strong 2024 Semi-annual Results with Surge in New Energy Vehicle Sales

TapTechNews August 25th news, Seres today released an announcement that the semi-annual operating income in 2024 is 65.044 billion yuan ($9.381 billion), an increase of 489.58% year-on-year, mainly due to the increase in sales of new energy vehicles.

The net profit attributable to shareholders of the listed company is 1.625 billion yuan, turning from a loss to a profit compared to the same period of the previous year, mainly due to the increase in sales of new energy vehicles; at the same time, the company's operating gross profit margin increased year-on-year, and the period expense ratio decreased year-on-year.

The net cash flow generated from operating activities is 16.36 billion yuan ($2.367 billion), mainly due to the increase in the sales collection of new energy vehicles.

According to TapTechNews' previous report, the cumulative sales of Seres' new energy vehicles in the first six months of 2024 is 200,949 units, an increase of 348.55% year-on-year.