Huawei Returns AITO Control to Seres, Both Stress Continued Ties: what are the key facts?

On September 15, Huawei handed operational control of AITO back to Seres, sending Seres' A-shares and Hong Kong-listed shares sharply lower the same day.

Huawei Returns AITO Control to Seres, Both Stress Continued Ties: what are the key facts?

Yu Chengdong responded on September 24 that Seres itself proposed taking the lead, and that new AITO vehicles will still be designed by Huawei's team.

Huawei Returns AITO Control to Seres, Both Stress Continued Ties: what are the key facts?

Seres retains Huawei's technology supply for smart driving and the cockpit, while regaining control over product definition, brand marketing, and channels.

Huawei Returns AITO Control to Seres, Both Stress Continued Ties: what are the key facts?

From 2022 to 2025, Seres' procurement from Huawei rose from 5.8 billion yuan to 56.054 billion yuan, totaling more than 111.3 billion yuan.

Huawei Returns AITO Control to Seres, Both Stress Continued Ties: what are the key facts?

In the first half of 2026, Seres' revenue was 57.493 billion yuan, down 7.87% year on year, with a net loss attributable to shareholders of 1.717 billion yuan.

Physix Frontier · News Briefing Card (enbrief · Sep 27, 2026)

Huawei Returns AITO Control to Seres, Both Stress Continued Ties

KEY FACTS

On September 15, Huawei handed operational control of AITO back to Seres, sending Seres' A-shares and Hong Kong-listed shares sharply lower the same day.
Yu Chengdong responded on September 24 that Seres itself proposed taking the lead, and that new AITO vehicles will still be designed by Huawei's team.
Seres retains Huawei's technology supply for smart driving and the cockpit, while regaining control over product definition, brand marketing, and channels.
From 2022 to 2025, Seres' procurement from Huawei rose from 5.8 billion yuan to 56.054 billion yuan, totaling more than 111.3 billion yuan.
In the first half of 2026, Seres' revenue was 57.493 billion yuan, down 7.87% year on year, with a net loss attributable to shareholders of 1.717 billion yuan.

KEY DATA

425,000 vehicles2025 AITO sales

145.176 billion yuan2024 Seres revenue

56.054 billion yuan2025 Seres procurement from Huawei

-1.717 billion yuanH1 2026 Seres net profit attributable to shareholders

PHYSIX OBSERVATION

Seres has taken back operational control, but its core technology still depends on Huawei; this is essentially a renegotiation driven by an imbalanced profit split. Consumers pay for the Huawei halo, and whether that brand perception can migrate is the biggest question. If the AITO model works, it will offer other automakers a template for standing up to a powerful supplier, but the difficulty is extremely high.

Source: enbrief original report ↗