AutoBeta(AutoBeta.net)08/22 Report--

Sky Eye check information shows that on August 19, Cyrus Automobile sales Co., Ltd. changed its industrial and commercial name from Selis Automobile sales Co., Ltd. to Chongqing Mengjie Automobile sales Co., Ltd. On August 20, the enterprise type of the company was changed from a limited liability company (sole proprietorship by a legal person) to a limited liability company (wholly owned by a legal person invested or controlled by a natural person).

Data show that Chongqing Mengjie Automobile sales Co., Ltd. was established in March 2019, the legal representative is Liu Wei, the registered capital is 50 million yuan, and the paid-in capital is 30 million yuan. The company is wholly owned by Cyrus's Chongqing Jinkang Power New Energy Co., Ltd. Foreign investment information shows that the company has set up sales and service companies in Beijing, Shanghai, Chongqing, Tianjin and other places.

Relying on Huawei, Cyrus has become the leading automaker in China. According to the retail data of the passenger Association, from January to July this year, the cumulative sales of Selis cars reached 220100, an increase of 631.5% over the same period last year, of which July sales increased by 826.7% to 39600. Whether it is the monthly sales or the cumulative sales in the previous July, the growth rate of Selis cars is particularly eye-catching. Of course, the growth of Selis car sales is inseparable from the core brand of AITO.

AITO is a joint brand of Huawei and Cyrus, which has so far launched new M7, new M5 and M9 models. Retail data show that a cumulative total of 101631 vehicles were delivered in 2023, of which 67961 were for the new M7 and 33670 for the M5, and 180568 were delivered in the first half of 2024, including 106540 new M7, 15,205 new M5 and 58,823 M9. According to the plan, the new M7 Pro will go on sale on Aug. 26, which will be equipped with a basic version of HUAWEI ADS with a pre-price range of 24.98 yuan to 289800 yuan. In addition, the M8 model will be launched in the second half of the year, which is located between M7 and M9 and competes with the ideal L8.

It is worth mentioning that the Cyrus Group has been moving a lot in the past two months. On July 2, Cyrus Group announced that its holding subsidiary, Cyrus Motor, plans to acquire 919 registered or applied text and graphics trademarks held by Huawei Technology Co., Ltd. and 44 related design patents for a total of 2.5 billion yuan. In order to further deepen its comprehensive cooperation with Huawei, Cyrus Group also announced on July 28 that it intends to invest in Shenzhen Wang Intelligent Technology Co., Ltd. (referred to as "Pioneer"), which will become a shareholding subsidiary of the company if the deal is completed. It is understood that Yingwang is a wholly-owned subsidiary of Huawei Technology Co., Ltd. at present, it has set up subsidiaries in Dongguan, Hangzhou, Shanghai, Nanjing and Suzhou, engaged in the research and development, design, production, sales and services of automotive intelligent systems and components solutions. the main business scope includes automobile intelligent driving solution, automobile intelligent cockpit, intelligent car control, intelligent vehicle cloud, vehicle light and so on.

On August 9, the Cyrus Group announced that it intends to acquire the 19.355% stake held by Chongqing Jinxin Equity Investment Fund Partnership (Limited Partnership), a minority shareholder of the holding subsidiary Selis Automobile Co., Ltd. (hereinafter referred to as "Selis Automobile"), with a transaction value of about 1.329 billion yuan. After the completion of the transaction, the company's shareholding in Selis Motor increased from 80.645% to 100%.

Earlier, Cyrus issued an unaudited performance forecast for the first half of 2024, which is expected to achieve operating income of 63.9 billion yuan to 66 billion yuan in the first half, an increase of 479% to 498% over the same period last year, and a net profit of 1.39 billion yuan to 1.7 billion yuan, turning losses into profits.

Cyrus said that the reason for the pre-profit is that the company overfulfilled its doubling plan in the first half of the year, and the product structure was obvious, and the company ranked sixth in sales of luxury brands in the Chinese market in the first half of the year. In addition, the company firmly defines the automobile by software, adheres to cross-border integration, adheres to the business policy of technological innovation and cost contribution, and the new quality productivity leads the company to continuously improve its business quality, profit and tax growth and profitability.

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