AutoBeta(AutoBeta.net)10/23 Report--

On the evening of October 21, Cyrus Group announced that the company and its subsidiaries plan to use no more than 15 billion yuan of their own funds to buy wealth management products with high security, good liquidity and low risk, in order to improve the efficiency of capital use and increase capital returns. However, Cyrus also stressed that the purchase of wealth management products still needs to be submitted to the general meeting of the company for consideration, and affected by changes in the macroeconomic situation, fiscal and monetary policies, exchange rates and funds, there is also uncertainty about the expected return on the purchase of wealth management products.

However, such large-scale purchases of investment wealth management products are not common among domestic automakers and even among all listed companies. Affected by the news, Cyrus shares rose by the daily limit today, closing at 100.56 yuan per share, substantially outperforming other automakers with a total market capitalization of 151.824 billion yuan.

Cyrus has really toughened up a lot after making money.

According to the financial report, Selis's operating income in the first half of the year was 65.044 billion yuan, an increase of 489.58% over the same period last year. The net profit belonging to shareholders of listed companies was 1.625 billion yuan, turning losses into profits, with a loss of 1.344 billion yuan in the same period. It was the brightest financial report in Selis's history, with profitability far exceeding that of 2019 for half a year.

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. In other words, Cyrus made more profits in the third quarter than in the first half.

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.

When he made money, Cyrus began to spend a lot of money to make himself stronger.

In July, Cyrus announced the acquisition of Huawei Technology Co., Ltd. and its related parties ("Huawei") for 2.5 billion yuan to hold a series of text and graphics trademarks, as well as 44 related design patents. In August, Cyrus invested 11.5 billion yuan in Shenzhen Vision Intelligent Technology Co., Ltd., which is wholly owned by Huawei, and hopes that it will become a subsidiary of the company. In October, Cyrus made another big acquisition, intending to buy a 100 per cent stake in Longsheng New Energy Technology for 8.16 billion yuan through a share issue, whose main asset is the Chongqing "super factory", which makes the intersecting series of models.

While completing a series of actions, Selis's backbone team is also using the way of increasing its stake in the company to express its confidence in the future of the company. On October 16, the Cyrus announcement revealed the completion of the plan to increase the company's shares by the backbone team, which increased its holdings by a total of 2.0586 million shares, accounting for 0.14% of the company's total share capital, by way of centralized bidding, with a total increase of 188.9891 million yuan. Among them, Selis Chief Executive Shen Wei increased his holdings by 48000 shares, with an amount of 4.427 million yuan, and President he Liyang increased his holdings by 476700 shares, with an amount of 44.4454 million yuan. Cyrus said that the company's backbone team increased its stake in the company based on confidence in the company's future development and recognition of the company's investment value. The backbone team promised not to reduce its stake in the company during the implementation of the plan and within six months after the completion of the increase.

The cooperation model between Huawei and Cyrus is glowing with new vitality-intelligence has driven sales growth, and high-end technology is beginning to bear fruit. By the end of September, the brand had sold 289500 vehicles for the year, of which 108100 were M9, 151400 were M7 and 29965 were M5. It is understood that the M8 model will be launched before the end of the year, which is located between M7 and M9 and competes with the ideal L8.

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