On September 4th, Seres Group (SERES) signed a strategic cooperation agreement with the China Society of Automotive Engineers (SAE-China) in Chongqing.

The partnership aims to align closely with the national strategy for intelligent connected new energy vehicles (NEVs), leveraging SERES' comprehensive presence across the NEV industry chain and SAE-China's expertise in the automotive sector.

Under the agreement, the two parties will collaborate in areas including strategic foresight in smart NEV technology, industry consulting, academic exchanges, innovation in technology and product services, joint talent development, and the creation of collaborative innovation platforms.

By combining their strengths and resources, SERES and SAE-China aim to drive technological innovation and industry upgrades, supporting the high-quality development of China's smart NEV sector.

On August 25, SERES released its 2024 semi-annual financial report, revealing a revenue of CNY 65.044 billion (US$ 9.1 billion), which represented a year-over-year spike of 489.58%. In the first half of this year, SERES' net profit attributable to shareholders stood at CNY 1.625 billion.