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On May 4, Xiaokang shares released production and sales of KuaiBao in April 2022. Data show that Xiaokang shares produced 7738 new energy vehicles in April, an increase of 182.20 percent over the same period last year, and sales of 8552 vehicles, an increase of 187.56 percent over the same period last year. Among them, Selis sold 3439 vehicles, an increase of 1248.63% over the same period last year. From January to April this year, the cumulative production of well-off new energy vehicles was 25129, an increase of 252.74% over the same period last year, and the cumulative sales were 22752, an increase of 199.64% over the same period last year. Cyrus sold 8483 vehicles, an increase of 1211.13% over the same period last year. At present, the official has not announced the sales of specific models, and I do not know the specific sales of the SF5 and the M5 selected by Selis.

According to the data, Xiaokang Co., Ltd. was established on May 11, 2007, and owns Dongfeng well-off Automobile, well-off Automobile Power and Ruichi New Energy Automobile and other car companies. Among them, Cyrus is a brand of Chongqing Jinkang Selis Automobile Co., Ltd., affiliated to Chongqing Xiaokang Industrial Group Co., Ltd., founded on November 6, 2017, mainly focused on the field of new energy electric vehicles.

In terms of product layout, so far, Xiaokang has cooperated with Huawei to build a total of two models. In April 2021, Xiaokang announced a partnership with Huawei to build a car, and launched the first model, Cyrus Huawei Smart SF5, which locates the high-performance electric drive coupe SUV, which is available in two-wheel-drive and four-wheel-drive versions with a price range of 216800-246800 yuan. On December 23rd, M5, the first model of Cyrus's new high-end new energy vehicle brand AITO, was officially released. M5 is the second cooperation between Cyrus and Huawei. Compared with the first cooperation, the difference of M5 is that Huawei has participated in many designs of the car, and the biggest highlight of the new car is that it is equipped with a brand-new HarmonyOS intelligent cockpit for the first time. It makes the intelligent level of the AITO interface M5 higher than that of the same class models. The M5 was launched on February 25 this year, positioning the intelligent luxury medium-sized SUV. In terms of power, the M5 is equipped with a 1.5T extended range engine, which comes from Huawei Drive ONE pure electric drive platform, 100 km fuel consumption 3.2kWh/L, comprehensive mileage exceeds 1000km, while the M5 four-wheel drive performance version adopts dual-motor all-wheel drive scheme, maximum power 365kW, 100km acceleration 4.4 seconds, 0-50km/h only 1.9 seconds. At present, the retail price of the standard version of the rear drive is 249800 yuan, the retail price of the performance version of the four-wheel drive is 279800 yuan, and the retail price of the flagship version of the four-wheel drive is 319800 yuan. AITO announced on the official Weibo that it will be affected by the increase in the cost of raw materials upstream of the car. The price adjustment of the M5 all-wheel drive version will be carried out at 24:00 on May 5, 2022. The specific adjustment plan will be announced before May 5, 2022. The standard version of the rear drive, which starts at 259800 yuan, will go on sale at 16:08 on April 20, 2022.

With the listing of M5, the performance of Cyrus SF5 in the market has undergone some changes. On January 4 this year, a car owner reflected to the media, "the Cyrus test drive, the show car, and the LOGO have all been changed. although the sales have not said to stop production, what is the difference between this and the actual suspension of production?" According to a transcript of a chat between suspected other car owners and Selis staff circulated online, the staff made it clear that Selis Huawei Smart SF5 has stopped production. In response to the news that Cyrus SF5 "stopped production", Huawei flagship store sales told the media: "SF5 did not stop production, but does not accept reservations. Now AITO asks about the launch of the new M5 car, and the main supply of the production line depends on the manufacturer's notice."

By January 5, Selis officials gave a clear response: "SF5 has not stopped production and plans to restart bookings around the Spring Festival" and posted a "letter to Selis SF5 users" on the official Weibo, saying that Selis SF5 will continue to accept users' orders. After the user places the order, we will arrange someone to follow up and assist in the delivery in time. For the users who have already delivered, we promise that the first owner of Cyrus SF5 will not only enjoy the 8-year / 160000 km warranty of the three power system, but also enjoy the lifetime warranty of the whole vehicle and the increment (see Cyrus APP "Lifetime Warranty Service rules" for details). In order to further thank SF5 users for their support, if the first car owner buys other models of the company within four years, he can get a discount of RMB 10,000 in addition to the current rights and interests of the proposed new car.

In this regard, industry insiders believe that Huawei will join hands with Cyrus to create AITO M5, the main reason or Cyrus SF5 market response in general, did not achieve the desired results. According to FIFA data, the sales of Cyrus SF5 from January to December in 2021 were 83,13,54,129,204,1097, 94,715,1040, 2205, 1446 and 1089 respectively, with a cumulative sales of 8169 vehicles in 2021. Judging from the data, Cyrus SF5 has only performed well in October since it went public in April, and the rest of the months have been mediocre. Prior to this, on the day of the launch of Cyrus Huawei's smart selection SF5, Yu Chengdong said that he would achieve the goal of "annual sales of 5 million vehicles."

On April 29th, Xiaokang released its first annual report since cooperating with Huawei since April last year. According to the data, the annual operating income of well-off shares in 2021 was 16.718 billion yuan, an increase of 16.89 percent over the same period last year. The net profit attributed to shareholders of listed companies was 1.824 billion yuan, which was larger than the loss of 1.729 billion yuan in 2020. The net cash flow generated by operating activities was a loss of 987 million yuan. Xiaokang shares said that the change in net cash flow from operating activities was mainly due to the increase in the purchase of raw materials paid in the current period and the increase in the salary of R & D and production personnel in the Selis plate. In terms of sales, Xiaokang Co., Ltd. sold 266616 vehicles in 2021, down 2.55% from the same period last year. Among them, sales of new energy vehicles reached 41440, up 104.39% from the same period last year.

In early January, Yu Chengdong set a target for AITO to sell 300000 vehicles in 2022, which would mean that the AITO brand would sell an average of 25000 vehicles a month. However, due to the shortage of chips, Yu Chengdong responded on April 18 this year that "it is impossible to achieve 300000 vehicles at all. It is a miracle that 10-200000 vehicles can be completed in the first year." Huawei has just entered the automotive field and is not familiar with and does not know the supply situation of the industry. it is not clear that the core shortage of the whole industry is so serious that a chip ranging from 10 yuan to 20 yuan is fried to 2500 yuan, while a car needs 9 such chips, which is too expensive. I can't accept this high speculation price, and I'd rather sell less. "

According to the plan, in addition to the Cyrus Huawei Smart SF5 and the AITO M5, this year the AITO brand will launch the second production car, the M7, which will be equipped with a 1.5T four-cylinder turbocharger and an incremental power system composed of motors provided by Huawei. In addition, Xiaokang shares revealed that the M5 is currently mainly produced in Chongqing Cyrus Liangjiang Wisdom Factory, and the next new model will be produced in another brand-new factory-Cyrus Phoenix Wisdom Factory.

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