Huawei is expected to be valued at 100 billion yuan, and SERES has invested 11.5 billion yuan. Is the intelligentization of the automotive industry accelerating?
2024-08-26
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On August 23, Seres Group and Huawei deepened their strategic cooperation in Shenzhen and signed an agreement to invest in Yinwang Intelligent Technology. In the agreement, Seres Auto will purchase Huawei's 10% stake in Yinwang in cash, with a transaction amount of 11.5 billion yuan.
Zhang Xinghai, chairman of SERES, stressed that the cooperation with Huawei has achieved remarkable results and the market response to the Wenjie series of products has been enthusiastic. This investment marks that the cooperation between the two parties has entered a new stage of "business + equity", aiming to jointly promote the intelligent development of the automobile industry and set a grand goal of annual production and sales of one million Wenjie vehicles within three years.
Huawei's rotating chairman Xu Zhijun spoke highly of the cooperation results, saying that Wenjie is a model of cross-border cooperation, and Yinwang will become an open platform for the smart car industry, helping car companies improve product competitiveness and jointly explore domestic and foreign markets. Huawei and Yinwang will continue to provide technology and supply support to Wenjie to promote its high-end brand.
On the same day, Huawei's executive director Richard Yu also said that Huawei will fully support Winwin to maintain its technological leadership and promote the intelligent transformation of the automotive industry. Huawei and SERES will work more closely together to jointly promote the brand upgrade of Winwin and plan to launch more new products.
It is understood that Seres is the second automaker to invest in Yinwang after Changan Avita. On August 19, Changan Automobile announced that its joint venture Avita Technology will purchase 10% of Yinwang’s equity for 11.5 billion yuan. This also means that two external shareholders have been confirmed to have invested in Huawei Yinwang, and both valued Huawei Yinwang at 115 billion yuan.
It is worth noting that on August 25, Seres also released its 2024 semi-annual report, with impressive performance. In the first half of the year, operating income was 65.044 billion yuan, a significant increase of 489.58%, and net profit reached 1.625 billion yuan. Sales of new energy vehicles increased by 348.55% year-on-year to 200,949 units, showing strong market competitiveness. At the same time, the company's net cash flow and gross profit margin increased significantly, and revenue and net profit in the second quarter increased significantly month-on-month.
Text and photos by reporter Pan Liang
