Sales of Cyrus in October halved year-on-year, and third-quarter revenue fell 41.66% year-on-year.

Abstract:

Sales recently released sales data for October. In October 2026, the company sold 27,037 vehicles, a year-on-year decrease of 50.29%; the cumulative sales from January to October were 310,198 vehicles, a year-on-year decrease of 21.48%. Specifically, the company’s new energy vehicle sales were 24,921 units, a year-on-year decrease of 51.57%. The cumulative sales of new energy vehicles from January to October were 281,442 units, a year-on-year decrease of 20.96%. Among them, Cyrus Automobile sold 22,105 vehicles in October, a year-on-year decrease of 54.69%. The cumulative sales volume of Cyrus vehicles this year was 249,377 units, a year-on-year decrease of 23.27%.

It is worth noting that Cyrus has just released its performance report for the third quarter and the first three quarters of 2026. The financial report shows that the company achieved operating income of 28.08 billion yuan in the third quarter, a year-on-year decrease of 41.66%; net profit attributable to shareholders of listed companies was 1.42 billion yuan, and the profit turned positive quarter-on-quarter, but a year-on-year decrease of 40.12%; net loss after deducting non-recurring gains and losses was 1.365 billion yuan, a year-on-year decrease of 159.54%.

From the first three quarters, Cyrus achieved a cumulative revenue of 85.573 billion yuan, a year-on-year decrease of 22.58%; a net loss attributable to its parent company was 297 million yuan, and a net loss not attributable to its parent company was 3.744 billion yuan.

As for the decline in revenue, Cyrus stated in its financial report that it was mainly due to the decline in sales of new energy vehicles. For the profit decline, Thalys gave three major reasons: First, due to the impact of the external environment and industry cycles, the price of new energy vehicle core components has increased, which has put periodic pressure on the cost of the entire vehicle; second, the company's R&D investment scale and investment intensity have increased simultaneously, with R&D expenses of 5.689 billion yuan in the first three quarters, a significant year-on-year increase in R&D expenses; third, the original subsidiaries are no longer included in the scope of consolidation, and the financial accounting method has been changed from the cost method to the equity method, resulting in an increase in non-recurring profits and losses.

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