AutoBeta(AutoBeta.net)10/11 Report--

On October 10, Cyrus released a profit forecast for the first three quarters of 2024, which is expected to achieve operating income of 103 billion yuan to 110 billion yuan, up 518% to 559% from a year earlier. The company expects the net profit attributed to the shareholders of the listed company to be 3.5 billion yuan to 4.1 billion yuan, turning losses into profits. Cyrus said the main reasons for the earnings forecast included significant growth in revenue and sales, over-fulfillment of the doubling plan, and an increase in the scale of sales of high-value products. In addition, the company insists on software-defined automobile and technological innovation to improve the efficiency of operation and management, with a year-on-year increase in gross profit margin and improved profitability.

Data show that Selis sold 369400 cars in the first three quarters of 2024, up 170.07% from a year earlier. Of these, sales of new energy vehicles were 316700, an increase of 364.23 percent over the same period last year, and Selis cars were 293000, an increase of 625.34 percent over the same period last year.

Selis sales soared, mainly because of the question. As a brand launched in cooperation with Huawei, the first mass-production model, the M5, began delivery in March 2022, and the second production car, the M7, was launched in July 2022, setting a record for monthly delivery of a single model of the new brand. After September 2023, with the launch of the new M7, M9 and M5 models, covering different markets of 20-600000 yuan, the order volume of the brand has repeatedly reached new highs. According to the official announcement of Selis, the cumulative number of M9 has exceeded 140000 in the nine months since it was listed, and the 100th has been offline, while the delivery of the new M7 has exceeded 200000 in 12 months.

In the future, Cyrus will continue to bind Huawei deeply.

On July 2, Cyrus Group announced that its holding subsidiary, Selis Motor, intends to acquire 919 written and graphic trademarks such as registered or applied trademarks held by Huawei Technology Co., Ltd. and 44 related design patents for a total of 2.5 billion yuan.

Selis Motor, a wholly-owned subsidiary, plans to pay cash for a 10.00% stake in Huawei Technology's Shenzhen Vision Intelligent Technology Co., Ltd., at a transaction price of 11.5 billion yuan, Cyrus announced on Sept. 20. Data show that Shenzhen Wangwang Intelligent Technology Co., Ltd. was established on January 16, 2024, with a registered capital of 1 billion yuan. It 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 service of automotive intelligent system and component solutions. The main business scope includes automobile intelligent driving solution, automobile intelligent cockpit, intelligent vehicle control, intelligent vehicle cloud, vehicle light and so on.

In addition, on the day of the release of the financial report, Cyrus also announced that the company intends to issue shares. Purchase 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 Energy Technology Co., Ltd. (Longsheng New Energy) 100% equity The transaction price of the underlying assets of this transaction is 8.167 billion yuan. Prior to this, Cyrus leased a super factory to Longsheng New Energy to produce a series of smart electric vehicle products. After the completion of this transaction, Longsheng New Energy will become a wholly owned subsidiary of the company, and the company will acquire the ownership of the super factory to ensure the safety, stability and self-control of the production end of the company's products.

Cyrus said that through this transaction, the two sides will upgrade their strategic cooperation to "business cooperation + equity cooperation" on the basis of equity ties, so as to further consolidate the sustainability of the cooperative relationship between the two sides. we will jointly explore the innovation cooperation mechanism of smart vehicles and intelligent components in the intelligent era. Jointly build Shenzhen into a leader in automotive intelligent components and solutions and a world-class new luxury car leading brand, providing a solid foundation and long-term guarantee for the company to achieve technology leadership and brand improvement in the intelligent era. It is understood that 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.

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