(Yicai) March 31 -- Shares of Seres Group fell after the Chinese automaker partnering with Huawei Technologies on the Aito electric vehicle brand said its net profit remained basically unchanged last year.

Seres [SHA: 601127] closed down 3.6 percent at CNY90.87 (USD13.15) in Shanghai today.

Net profit rose 0.2 percent to CNY6 billion (USD860 million) in 2025 from the year before, the Chongqing-based firm said in its latest financial statement released yesterday. Operating revenue jumped 14 percent to CNY165.1 billion (USD23.9 billion).

Seres sold 472,269 cars last year, up 11 percent from 2024. Of them, over 420,000 units were Aito-branded, as the company's gross profit margin from the new energy vehicle business reached 28.8 percent.

The company invested CNY12.5 billion (USD1.8 billion) in research and development last year, an increase of over 77 percent from the previous year. The net cash flow generated from operating activities climbed 28 percent to CNY28.9 billion.

In the fourth quarter, Seres reported an operating revenue of CNY54.5 billion, up 41 percent from the same period the year before. However, its net profit shrank 66 percent to CNY644 million (USD93.2 million).

The company's total assets increased 53 percent to CNY143.9 billion as of Dec. 31 from a year earlier, with net assets surging 233 percent to CNY40.9 billion.

Looking ahead, Seres this year plans to deepen its focus on high-end intelligent EVs, accelerate its layout in overseas markets, and promote the implementation of innovative businesses, such as smart robots.

The company will also explore embodied intelligence and smart vehicles, including robotaxis, while collaborating closely with leading enterprises and universities to drive the industrialization and application of artificial intelligence.

Seres also unveiled a share repurchase plan yesterday. It intends to buy back between CNY1 billion and CNY2 billion worth of shares at a maximum price of CNY150 (USD21.71) apiece, aiming to reduce the registered capital.

Editor: Futura Costaglione