Title: Huawei’s Yiwang Smart Technology Sees 63.38% Revenue from Seres Auto in H1, Totalling 6.614 Billion Yuan
In a significant development in the Chinese automotive industry, Huawei Yiwang Smart Technology, a key player in automotive intelligence, has reported that 63.38% of its revenue in the first half of the year, amounting to 6.614 billion yuan (approximately $928 million), was derived from Seres Auto, a major partner in the sales volume of Huawei’s AITO brand. This information was disclosed in a recent independent financial advisor report published by China Galaxy Securities Co., Ltd. on August 26th.
According to the report, Yiwang Smart Technology’s top five clients accounted for 79.14%, 89.52%, and 90.55% of its revenue in 2022, 2023, and the first half of 2024, respectively. The largest client, Seres Auto, has consistently contributed over 50% of the company’s income, with a remarkable 6.614 billion yuan in sales in the first half of this year. This figure underscores the deepening partnership between Huawei and Seres Auto, which is a crucial component of Huawei’s growing presence in the smart automotive sector.
Seres Auto, also known as AITO, has emerged as Huawei’s most successful collaboration in terms of sales volume. The company’s founder, Zhang Xinghai, expressed his commitment to supporting Yiwang’s transformation into an open platform for automotive intelligence in the automotive industry. Zhang, who is also the chairman of Seres Group, announced during the recent investment signing ceremony that Seres aims to achieve an annual sales target of one million vehicles for the AITO brand within the next three years. This ambitious goal is expected to drive a corresponding demand for Yiwang’s one million sets of supplies, fostering a mutually beneficial partnership.
The report also highlighted a significant transaction where Seres Auto proposed to acquire a 10% stake in Huawei Yiwang Smart Technology for 11.5 billion yuan. This strategic move is expected to further solidify the collaboration between the two companies and potentially accelerate the development of advanced automotive technologies.
In recent years, Huawei has been expanding its presence in the automotive industry, primarily through partnerships and the provision of smart solutions. The strong revenue contribution from Seres Auto to Yiwang Smart Technology underscores the effectiveness of this strategy and the growing demand for Huawei’s smart automotive technologies.
As the competition in the smart automotive sector intensifies, Huawei’s collaboration with Seres Auto and the investment in Yiwang Smart Technology demonstrate the company’s commitment to innovation and its ambition to become a key player in the industry. With a focus on advanced technologies and a strategic partnership, Huawei is poised to make a significant impact on the global automotive market in the years to come.
In conclusion, the financial report from China Galaxy Securities highlights the robust relationship between Huawei’s Yiwang Smart Technology and Seres Auto, with the latter contributing a substantial portion of Yiwang’s revenue. The partnership’s potential, as evidenced by the planned equity acquisition, indicates a shared vision for growth and the integration of cutting-edge technology in the automotive industry. As Seres Auto aims to achieve ambitious sales targets, the collaboration with Huawei is expected to play a pivotal role in shaping the future of smart automobiles.
【source】https://www.ithome.com/0/791/169.htm
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