Seres Group Deepens Strategic Cooperation with Huawei, Invests in InnoVation Smart Technology Co., Ltd.

2024/08/26
Cooperation
Seres
China
Seres Group and Huawei held a signing ceremony in Shenzhen for a deepened strategic cooperation agreement and Seres' investment in InnoVation Smart Technology Co., Ltd. Seres will invest in InnoVation, holding a 10% stake, to support its future development alongside Huawei and other strategic partners. Seres' Chairman Zhang Xinghai stated that this investment signifies a comprehensive "business + equity" cooperation between Seres and Huawei. Huawei's rotating Chairman Xu Zhijun sees the cooperation as a significant step in promoting the intelligent development of the automotive industry. Seres' semi-annual report for 2024 shows substantial increases in revenue and net profit, with a 348.55% year-on-year growth in new energy vehicle sales, continuous improvement in cash flow from operating activities, and an increase in gross margin.
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