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After 400,000 units, Zhang Xinghai set a goal of "10, 100, 1,000" for SERES. SERES revealed that under the premise of keeping the original cooperation framework unchanged, the two parties signed an agreement to further deepen the joint business cooperation with Huawei, and continued to jointly build a fusion brand to make it a world-class new luxury car leading brand. At the same time, under the model of joint definition and joint design, the two parties will do a good job in the iteration of existing models and "launch more new platform products for the future."

In 28 months, 400,000 vehicles rolled off the production line, of which 70,000 were sold for more than 500,000 yuan.

This can only happen in China's booming new energy vehicle market.

This is a historic breakthrough achieved through the joint efforts of Huawei and SERES.

On July 29, the 400,000th new car of AITO rolled off the assembly line, and the 70,000th M9 was delivered at the SERES Automotive Super Factory. It has only been 28 months since the birth of the AITO brand, which is a new record for Chinese new energy brands.

Standing at the SERES Auto Super Factory, Yu Chengdong was quite excited when he spoke. He said: "This was a construction site a year ago, but today it has become the world's most intelligent, automated and smartest super factory."

Before the launch of the new Wenjie M7 last year, the cooperation between the two parties went through a very difficult period, but Wenjie managed to go from being looked down upon, to not understanding, to being unable to catch up in the industry. Now, the new Wenjie M7 Ultra and M9 have been ranked first in sales of products above 300,000 and 500,000 respectively, setting a new record in the history of Chinese automobiles.

Zhang Xinghai, chairman of SERES Group, who facilitated the cooperation between SERES and Huawei, could not hide his excitement. He set a new goal: "Ten, Hundred, Thousand".

The so-called "10, 100, 1000" means "a single model in the hundreds of thousands, a single brand in the millions, and a single car company in the tens of millions."

That is to say, the annual sales volume of a single model is above 100,000 units, the annual sales volume of a single brand is in the millions, and the annual sales volume of a single car company is in the tens of millions.

Regarding this ambition, Zhang Xinghai said that the result of his years of thinking about the annual sales position in the global new energy vehicle industry. If one of these goals can be achieved, car companies will have an industry and market position and will be able to survive.

He established this as the current and future strategic goal of SERES: "Today, annual sales of 100,000 units are basically achievable, and we want to sprint towards the goal of selling one million units of a single brand. AITO plans to achieve annual sales of over one million units within five years.QJM9（parameter丨picture) and AITO asked the world to merge the brand to gain a leading position in the industry with a single model and a single brand. "

In order to move faster and more steadily in the future, SERES has determined "serving users wholeheartedly" as its corporate purpose, and "user pride is the company's value, user safety is the company's life" as its mission. The vision we pursue is "to become a world-class new luxury car leading brand."

A single car company's annual sales volume exceeds 10 million vehicles, which is the goal of challenging the world's number one. Toyota's global sales in 2023 were 11,233,039 vehicles, while Volkswagen Group's sales were 9.24 million vehicles, less than 10 million vehicles.

It has only been eight years since Zhang Xinghai led SERES into the new energy vehicle field, and the cooperation with Huawei has just been three years. The two parties have just created three models, M5, M7, and M9.

And it was truly a dream that 400,000 vehicles were produced in just 28 months.

The cooperation model between Huawei and SERES, the so-called smart car selection model, is different from neither the OEM model nor the joint venture model. The two parties have not established any joint venture company, nor have they conducted joint research and development or established a joint venture sales company.

This is a cooperation model that has never appeared in the history of the automobile industry for more than 100 years. In the absence of a clear equity relationship, the cooperation between the two parties has always maintained a win-win situation, which has to be said to be a miracle in the history of China's automobile industry.

Regarding SERES, Yu Chengdong called it a "comrade-in-arms" and described the cooperation between the two parties as "close and seamless."

At the AITO 400,000th new car roll-off ceremony, Zhang Xinghai summarized three reasons for the success of AITO:

First, we have always been committed to serving our users wholeheartedly.

The second is to integrate innovation and create a comprehensive brand.

The third is to promote supplier integration through integration and accumulation.

The second reason is about the cooperation between SERES and Huawei. Zhang Xinghai popularized the cooperation model with Huawei's Hongmeng Intelligent Driving as "integrated innovation and integrated brand."

Zhang Xinghai expressed his deep feelings about the cooperation with Huawei. He said:

"After three years of cross-border integration between SERES and Huawei, their growth is obvious to all. Two years ago, our cars were first sold in offline stores in Shanghai through Huawei mobile phone stores. Who would have believed it at the time? Many people did not understand this business model. There is no scenario of selling cars in mobile phone stores worldwide. Now it seems that this is the right direction and the right thing to do."

The close cooperation between the two parties also endorsed the trust of suppliers. "Through integration and aggregation, we drive innovation in supply chain system management and technology. We previously had 300 first-tier suppliers, but now we have integrated them into 100, 20 of which are world-class supply chains."

Among them are international giants such as Bosch, as well as emerging Chinese giants such as CATL and Wencan Die-Casting.

This lays the foundation for the high-quality production of Wenjie brand products.

In the first half of 2024, AITO Wenjie topped the list with an NPS score of 83.7%.QJM7They won the first and second place in NPS of vehicle models respectively.

Cumulative deliveries from January to July 2024 have reached 222,679 units; the M9 delivered 18,047 units in July, continuing to top the sales of models with a sales volume of more than 500,000 yuan, and the M7 became the first in cumulative sales of new Chinese models from January to July. In August and September, new products will also be brought to users and the market to help the brand achieve its annual sales target of one million yuan faster.

At the ceremony for the 400,000th vehicle to roll off the production line, after Zhang Xinghai set a goal of "10, 100,000" for SERES, SERES revealed that, on the premise that the original cooperation framework remains unchanged, the two parties have signed an agreement to further deepen their joint business cooperation, and will continue to jointly build a converged brand, making it a world-class new luxury car leading brand.

It can be said that AITO's plan to go overseas has been put on the agenda.

And it was agreed that under the model of joint definition and joint design by both parties, they would iterate on existing models and "launch more new platform products in the future."

SERES will also strengthen channel construction and build more than 600 user centers by 2027.

However, the truly deepened cooperation between SERES and Huawei is not only in the field of branding, but the two parties have also truly intersected at the capital level.

On July 29, the night before both parties celebrated the rollout of the 400,000th QENJI model, SERES issued an announcement stating that it plans to invest in Shenzhen Yinwang Intelligent Technology Co., Ltd. The company has initiated negotiations with Yinwang and its shareholders to join the investment in Yinwang, jointly supporting Yinwang to become a world-class leader in the automotive intelligent driving system and components industry, and an open platform serving the automotive industry.

SERES said that if the transaction is completed, Yinwang will become a subsidiary of the company with a stake, and the scope of the company's consolidated financial statements will not change.

SERES and Huawei finally have in-depth cooperation at the capital level.

Yinwang Company, formerly Huawei's automotive BU, was announced to be independent from Huawei last year and was officially established on January 16 this year with a registered capital of 1 billion yuan. Its business scope includes the research and development, design, production, sales and services of automotive intelligent systems and component solutions, including automotive intelligent driving solutions, automotive intelligent cockpits, intelligent vehicle control, intelligent vehicle cloud, and on-board lights.

As of now, Huawei Technologies Co., Ltd. holds 100% of the shares.

Many Chinese OEMs, such as Changan Automobile, have already made clear their investment and shareholding prospects.

SERES is the latest OEM to announce its intention to acquire a stake in Inspur.

The cooperation between SERES and Huawei is becoming increasingly in-depth. With 400,000 vehicles being a stage, SERES said that its cooperation with Huawei "is a marathon, and everything has just begun now."

Huawei's Automotive BU (Intelligent Automotive Solutions Division) achieved a revenue of nearly 10 billion yuan in the first half of 2024 and achieved profitability. Seres' net profit turned positive in the first quarter of 2024, becoming the world's fourth profitable new energy vehicle company. Seres' market value has stabilized at more than 100 billion yuan, ranking third among China's new energy vehicle companies after BYD and Ideal.

It can be said that in terms of financial data, both parties have achieved a win-win situation that everyone is happy with.

This laid the foundation for the question-and-answer model to go further.