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it home reported on september 23 that huawei's rotating chairman xu zhijun recently publicly responded to questions about huawei's automotive bu and idrive for the first time. in an interview with the economic daily, he said: "both the automotive bu and idrive have gone through the most difficult period.the company has achieved profitability in the first half of this year and is expected to achieve profitability for the full year。”

xu zhijun went on to add that at huawei, as long as an industry achieves current profitability, it has passed the most difficult period.

at present, the market has concluded that yinwang’s valuation is about 115 billion yuan, based on the fact that seres purchased 10% of yinwang’s equity for 11.5 billion yuan. regarding this valuation, xu zhijun frankly said: “the valuation is too low.”

xu zhijun said:this was the price we discussed a year ago. if we were to discuss it now, it would not be this high.。”

in addition, when asked about yinwang’s criteria for investing in companies, xu zhijun said: “automakers that use yinwang’s products and solutions are definitely the first choice.the target of yinwang is car companies, not financial investors.investors introduced by yinwang must be strategic investors, and investors and yinwang are closely integrated, sharing risks and benefits. "

on august 25, seres issued an announcement that its wholly-owned subsidiary seres automotive intends to purchase 10% of the equity of shenzhen yinwang intelligent technology co., ltd. held by huawei technologies co., ltd. in cash. the transaction price is 11.5 billion yuan.

prior to this, avita technology, a subsidiary of changan automobile, signed a "share transfer agreement" with huawei in chongqing on the morning of august 20, stipulating that avita technology would purchase 10% of yinwang's equity held by huawei, and the transaction amount was also rmb 11.5 billion.

in early september this year, a huawei official revealed to the securities times that yinwang will be controlled by huawei in the short term. however, yinwang's investment cooperation is open to all car companies. the relevant cooperation between huawei and car partners such as baic bluepark and jac motors is currently under negotiation.

according to previous reports by it home, shenzhen yinwang intelligent technology co., ltd. was officially established on january 16. the company's business scope includes intelligent vehicle equipment manufacturing, automotive parts research and development, artificial intelligence industry application system integration services, artificial intelligence basic software development, artificial intelligence theory and algorithm software development, communication equipment manufacturing, data processing and storage support services, information consulting services, etc. the company's registered address is located in the office building of huawei headquarters.