Cyrus: The estimated value of the Wenjie trademark and other assets planned to be acquired from Huawei for 2.5 billion yuan is 10.233 billion yuan

According to this site’s news on July 3, Cyrus announced on the evening of July 3 that the company’s holding subsidiary Cyrus Automotive Co., Ltd. plans to use 2.5 billion yuan of self-raised funds to acquire the existing shares held by Huawei Technologies Co., Ltd. and its related parties. There are 919 registered or pending text and graphic trademarks such as Wenjie, AIITO, AITOAUTO and AITO SELECT, as well as 44 automobile design patents.

Announcement

The company has hired Zhongjing Minxin (Beijing) Asset Appraisal Co., Ltd. ("Zhongjing Minxin") with securities qualifications to evaluate the underlying assets. Zhongjing Minxin uses the income method and replacement cost method to evaluate the underlying assets in accordance with necessary evaluation procedures. The value type of the evaluation conclusion is market value. After evaluation, the market value of the underlying assets on May 31, 2024, the base date of evaluation, was 10.233 billion yuan.

Transaction price

This means that the transaction prices of Cyrus and Huawei are 2.5% off compared to the market price.

Huawei statement

Huawei has also spoken out on this matter before, saying that "it will continue to support Cyrus in building and selling good people around the world. Huawei has always insisted not to build cars, but to use leading intelligent connected cars Technology will continue to help car companies build and sell good cars. Huawei will continue to work with car companies to create excellent smart car products for users and provide the ultimate smart travel experience."

Celex’s financial status

The first quarter report shows that at the end of the period, Celex’s monetary funds on hand were 21.483 billion yuan, but it had notes payable and accounts payable of 42.849 billion yuan, and short-term borrowings of 445 million yuan, which will be due within one year. The non-current liabilities for the period were RMB 1.671 billion. The company's asset-liability ratio is as high as 88.27%, compared with 79.93% in the same period last year.

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