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A strategic investment signing ceremony with Hubei Xingji Times Technology Co., Ltd. was held in Hangzhou today, officially announcing that Xingji held a controlling stake of 79.09% of Meizu Technology and gained separate control of Meizu Technology, according to a statement on Meizu's official Wechat.

According to relevant data, Hubei Xingji Times Science and Technology Co., Ltd. was established on September 26, 2021, with a registered capital of 715 million yuan. Its business scope includes mobile terminal equipment manufacturing, mobile communication equipment sales, etc., and the legal representative is Wang Yong. According to the shareholding structure, Geely Group (Ningbo Co., Ltd.) is the first-generation shareholder of the Star era, with a stake of 32%, while Li Shufu holds 6.1%. The agreement between the two sides also means that Geely formally acquired Meizu. It is understood that Meizu Technology will continue to operate as an independent brand after this contract.

With regard to the acquisition of Meizu, Geely is a big step forward after announcing its foray into the mobile phone field. As early as September last year, Hubei Xingji Times Science and Technology Co., Ltd. signed a strategic cooperation agreement with Wuhan Economic and technological Development Zone and officially announced its entry into the mobile phone field. As to why he entered the mobile phone market, Li Shufu once said that the mobile phone is a fast iterative portable mobile terminal and the application carrier of electronic product market verification and software innovation, which allows users to share the achievements of innovation as soon as possible. at the same time, it can transfer some of the safe and reliable results to the automobile application, and realize the close interaction between the car and mobile phone software technology.

After Geely announced its entry into the mobile phone market, the news about Geely's acquisition of Meizu kept coming out. In January, it was reported that the mobile phone company of Geely Group is in contact with mobile phone manufacturer Meizu to discuss the acquisition. Several people close to the deal said: "the deal is still in progress and due diligence is being done." In terms of the purchase price, as the transaction is not yet over, the price is not clear. Hubei Xingji Times Technology Co., Ltd. has signed an agreement with Zhuhai Meizu Technology Co., Ltd. and its trading shareholders to acquire a 79.09% stake in Zhuhai Meizu, according to the second Department of Anti-monopoly Law Enforcement of the State Administration of Market Supervision and Administration. Yesterday, Meizu's official Weibo also issued a preview of Meizu's new departure. See you tomorrow.

The acquisition of Meizu by Geely is a lifesaver for Meizu. As the competition in the mobile phone market becomes more and more fierce, the situation of minority brands is becoming more and more difficult. According to the relevant data, Meizu was founded in 2003, dedicated to the development of MP3 products, and created a number of "firsts" in the history of domestic MP3. With the decline of the MP3 market in 2006, Meizu switched to smartphones in 2008, devoting itself to the development of high-end smartphones. In 2009, Meizu M8 was officially listed and became famous. In 2015, Meizu mobile phones had the highest growth rate in the world. In 2016, sales reached 22 million. But since 2017, its sales have fallen to 20 million, and in 2018, Meizu's mobile phone sales have fallen 46% to 9.48 million. In 2020, Meizu's single-quarter sales fell to between 20 and 400000 units, accounting for only 0.5 per cent of the market share. By the end of 2020, market share had fallen to 0.1%.

For Geely, this cooperation is also beneficial. According to relevant data, Geely invested in the establishment of Yijiatong in 2016, giving Geely an exclusive car intelligent ecosystem service provider. However, the application of Yika pass machine system in Geely models has not won the recognition of users, users are more likely to reflect stutter, the use experience is not good. It is understood that before the completion of this acquisition, Geely's Lock model has already announced that it will be equipped with a new vehicle system built by Meizu, Flyme on Car.

With the dependence of users on smart phones, many car companies also attach importance to the importance of the integration of mobile phones and automobile intelligent systems. Hope to bridge the gap between mobile phones and cars and create a new travel ecology. Li Bin of Xilai car once said: "Mobile phone is now the most important device for users to connect to the car. Not building a mobile phone is equivalent to not having the key to your home." Take NIO users as an example, more than 50% of them use Apple phones, but Apple is very closed to the auto industry, and so far it does not open interfaces, which makes it very passive. "

Geely Li Shufu also said at the signing ceremony that in the future, the track of the smart car and smartphone industries will no longer be monotonous, and the two will no longer go their own way. it is an integrated relationship of multi-terminal, full scene and immersive experience for common users. Through the layout of mobile phone business, the deep integration of consumer electronics industry and automobile industry, and the cross-border creation of user ecological chain, super coordination can be achieved. For Geely to enter the mobile phone field, it will improve its optimization of vehicle operating system. However, with the continuous iteration of self-driving and intelligent driving technology, users will have more demand for mobile phones, and Geely cars will also face greater challenges.

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