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Today, Selis issued a notice saying that the company reviewed and passed the "motion on Chongqing Selis Electric vehicle Co., Ltd." In accordance with the agreement, it will acquire 55% of the shares held by Chongqing Jingyun Chuangfu Enterprise Management Co., Ltd., Chongqing Saixin Private Equity Investment Fund Partnership (Limited Partnership), and the corresponding acquisition price is about 1.254 billion yuan.

As for the acquisition, officials said it was based on the agreement on share repurchase in the investment agreement, which helps to reduce the company's financing costs, does not harm the interests of the company and all shareholders, and will not lead to changes in the scope of the company's consolidated statements.

From the official announcement, we can see that Selis Electric shareholding structure was originally composed of Selis Automobile, Jingyun Wealth and Saixin Fund. Among them, Selis Motor accounts for 45% of the equity, Jingyun Fortune and Saixin Fund account for 40% and 15% of the shares respectively. It is understood that Chongqing Cyrus Electric vehicle Co., Ltd. was established in 2022, when Selis issued a notice saying that in order to comply with the development trend of the automotive industry and implement the company's new energy vehicle strategy, optimize the layout of production capacity, improve the delivery capacity of new models of high-end new energy vehicles, and decided to invest in the establishment of Selis Electric Company.

In fact, during the establishment of Chongqing Cyrus Electric vehicle Co., Ltd., Cyrus was caught in the rumor that Cyrus SF5 had stopped production. At that time, Selis officials also went out to clarify that "SF5 has not stopped production and plans to restart the reservation before and after the Spring Festival." At the same time, it also said that after the user issued the order, a special person would be arranged to follow up and assist in the delivery. For users who have already delivered, it is promised that the first owner of Cyrus SF5 will not only enjoy a 8-year / 160000-kilometer warranty for the three-power system, but also enjoy a lifetime warranty for the whole vehicle and the booster. If the first car owner buys other models of the company within four years, he can get a discount of 10,000 yuan on the basis of the current rights and interests of the new car to be purchased.

In the same year, in July, Xiaokang shares announced that it had changed its name to "Cyrus". With regard to the reason for the official name change, Cyrus said that it is mainly because of the explosive growth of new energy, based on thinking about the market, combined with its own accumulation and achievements, a strategic plan for investors to accurately position the current company. This is not Cyrus's first acquisition this year. In May, the official announced that it plans to buy Chongqing Industrial Investment parent Fund Partnership (Limited Partnership), Chongqing Liangjiang New area Development and Investment Group Co., Ltd., Chongqing Liangjiang New area Industrial Development Group Co., Ltd. Chongqing Liangjiang New area Longsheng New Energy Technology Co., Ltd. 100% stake.

After the completion of the transaction, Longsheng New Energy will become a wholly owned subsidiary of Cyrus. It is understood that Longsheng New Energy's main business is to provide productive leasing services for new energy vehicle factories, and now it is mainly responsible for producing AITO M9 series and other new energy vehicle products. With regard to the acquisition of Longsheng New Energy, Cyrus said that the addition of Longsheng New Energy can increase the size of assets, and after the acquisition will not increase the liabilities of listed companies, but can also reduce the asset-liability ratio of listed companies and optimize the capital structure. In addition, there is no need to pay rent, which can reduce annual operating cash outflows.

In less than a month, Cyrus acquired Longsheng New Energy and Chongqing Selis Electric vehicle Co., Ltd., which has something to do with its recent turnaround. It is well known that Cyrus has been losing money until 2023. The data show that the non-net losses of Selis buckle from 2019 to 2023 are 884 million yuan, 2.308 billion yuan, 2.793 billion yuan, 4.296 billion yuan and 4.817 billion yuan respectively, with a cumulative loss of more than 15 billion in five years.

After entering 2024, Cyrus made a profit for the first time in the first quarter of this year because of the popular style benefits brought by several models. In the first quarter of 2024, Selis's operating income was 26.561 billion yuan, an increase of 421.76% over the same period last year. The net profit belonging to shareholders of listed companies after deducting non-recurring profits and losses was 114 million yuan.

Of course, Cyrus's profit comes mainly from the AITO brand, which accounts for more than half of Selis's sales. At present, the models on sale in AITO are new M7, new M5, M9 and other models. Retail sales of the three models in May were 10181, 5583 and 16462, respectively, according to retail data. According to the official plan, the M8 model will be launched later. With the gradual improvement of sales, through the acquisition of related companies can indeed help to improve the overall competitive strength of Cyrus, and also play a certain role in ensuring the delivery capacity.

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