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On July 31, Zhang Xinghai, chairman and founder of Xiaokang shares, officially announced that Xiaokang shares changed its name to Cyrus (Group) and changed its brand new enterprise logo at the same time. As early as July 12 this year, Chongqing Xiaokang Industrial Group Co., Ltd. (hereinafter referred to as "Xiaokang shares") issued an announcement on the company's proposed change of company name and securities acronym.

According to the announcement, Chongqing Xiaokang Industrial Group Co., Ltd. held the 26th meeting of the fourth board of directors by means of communication on July 11, 2022, and examined and adopted the "Bill on the change of Company name and Securities acronym." and agreed to submit the matter of changing the company name to the general meeting of shareholders of the company for consideration. It includes that the Chinese name of the company is changed from "Chongqing Xiaokang Industrial Group Co., Ltd." to "Cyrus Group Co., Ltd." (finally, the name approved by the Market Supervision Administration shall prevail); the English name of the company will be changed from "Chongqing Sokon Industrial Group Co.,Ltd" to "Seres Group Co., Ltd."; the short name of the company's securities will be changed from "well-off shares" to "Selis", and the company's securities code "601127" will remain unchanged.

With regard to the renaming of Cyrus, Zhang Xinghai said that Selis is a new starting point for its third venture, pointing out that the automotive industry is ushering in an important point of transformation and upgrading as a whole. The high-end smart electric vehicle track will certainly replace the high-end brand traditional car track, and the commercial intelligent electric vehicle track will replace the traditional commercial vehicle track.

Zhang Xinghai, chairman and founder of Selis Group

As for why it changed its name to Cyrus, according to officials, Cyrus is transliterated from the Greek SERES, meaning the country of silk, symbolizing the East and high-end. SERES left-right symmetry is a unique symbol in traditional Chinese culture. The design is inspired by the Imperial Palace and the Great Wall, which represents solid and fair. What Cyrus wants to take is a "Silk Road" for high-end products. I think this is not only the openness and tolerance of Chinese enterprises, but also the pattern and bearing of going to the world. The renamed Selis enterprise logo is based on the thinking of the "intelligent ecological strategy" of enterprise development, which reflects the trend of openness, diversity and development. before that, the company's enterprise name and three enterprise logos were Yu'an Innovation and well-off Industry respectively.

Data show that Chongqing Xiaokang Industrial Group Co., Ltd., founded in 1986, is an automobile manufacturing enterprise integrating complete vehicles and engines, headquartered in Jingkou Industrial Park, Shapingba District, Chongqing. It owns Dongfeng well-off Automobile, well-off Automobile Power and Ruichi New Energy vehicle and other brands. SERES is a brand of Chongqing Jinkang Selis Automobile Co., Ltd., which belongs to Chongqing Xiaokang Industrial Group Co., Ltd., founded on November 6, 2017, specializing in the field of new energy electric vehicles.

So far, there are three models built in cooperation between Xiaokang and Huawei. In April 2021, Xiaokang announced a partnership with Huawei to build a car and launch 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. As the first electric car in the industry to be sold through Huawei channel, the sales volume of Cyrus Huawei Smart SF5 is not outstanding in the market. According to the data of the Federation of passengers, the sales of Cyrus SF5 from April to December in 2021 were 129,204,507,507,715,1117, 1926, 1385 and 1089 respectively, with a total sales of 8169 vehicles.

Perhaps due to the general response of the first model market, did not achieve the desired results, in December of the same year, Cyrus quickly launched the high-end new energy vehicle brand AITO, and successively launched M5 and M7 models. The AITO brand is the second cooperation between Cyrus and Huawei. The biggest difference between the first model M5 and Cyrus SF5 is that Huawei has participated in many designs of the M5, including the new HarmonyOS intelligent cockpit for the first time. As Huawei's model, Huawei's consumer business CEO and smart car BU CEO Yu Chengdong have high hopes for the car's market performance. Yu Chengdong once asked the M5 at the press conference: "comparable to millions of luxury cars, the design is based on the standards of millions of luxury cars, and the appearance, interior, performance, experience and quality requirements of millions of luxury cars. Even the chassis of the car is the chassis of million luxury cars." The M5 also lived up to expectations after its listing, and has received great attention since it was listed. According to previous reports, the M5 will be released on December 23, 2021, positioning intelligent luxury medium-sized SUV, currently priced at 25.98-331800 yuan. Public data show that the delivery volume of M5 from March to June in 2022 is 3045, 3245, 5006 and 7021 respectively, with a cumulative sales volume of 18317 in four months, showing a steady growth trend.

On July 4, the second model of the AITO brand, the M7, was officially launched, and the new car positioning medium and large SUV launched a total of three configured models with a price range of 31.98-379800 yuan. More than 20, 000 orders were received four hours after the new car was released. As the second production model of the AITO brand, Yu Chengdong created a momentum for the M7 when the new car was not on the market, claiming that it surpassed millions of luxury cars. Yu Chengdong said that although the shape of the M7 is very compact, but there is a lot of internal space, there is enough confidence for bosses and leaders to sit comfortably and rest. Our new car is more comfortable than Elfa, Elfa Lexus (Lexus LM), and surpasses the comfort of all high-end cars, luxury cars and MPV.

According to the announcement of Xiaokang shares, in the first half of this year, Xiaokang shares are expected to achieve operating income of 12 billion yuan to 12.6 billion yuan, up 62.5% to 70.63% over the same period last year, and the net profit of return to the mother is-1.76 billion yuan to-1.6 billion yuan. Previously, the company had accumulated losses of 3.553 billion yuan in 2020 and 2021. For the reasons for losses, well-off shares are explained by fixed assets investment, R & D investment and output climbing. As for the next product layout, Zhang Xinghai revealed that the M9 model will be launched in 2023, and 10% of the revenue will be used for technology research and development each year in the future.

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