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Cyrus: there are so many orders that it is impossible to predict when to break even

2024-04-13 Update From: AutoBeta NAV: AutoBeta > News >

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AutoBeta(AutoBeta.net)03/03 Report--

Recently, according to the Financial Associated Press, a Selis staff disclosed to reporters that Selis currently has sufficient orders on hand, and sales are expected to maintain steady growth. At the same time, the employee also revealed that the current production capacity of Cyrus can meet the delivery of orders. In addition, in response to the topic of when Cyrus will break even, which is concerned both inside and outside the industry, it said that there was no way to make a prediction.

It is worth noting that since the launch of the new M7 in September last year, it has successfully reversed Selis's decline in sales in the first half of last year. Relevant data show that the cumulative sales of AITO last year was 101631 vehicles. Of these, the M7 sold 67961 vehicles, accounting for 66.87 per cent of the total sales of the MJ brand.

Subsequently, Cyrus struck while the iron was hot and launched the M9 model one after another. Official figures show that large orders for the car have exceeded 40,000. Or thanks to the hot sales of the new M7 and M9, the sales of the new M7 and M9 also soared in January, reaching 32973 units, surpassing the ideal car to become the monthly sales champion of the new car-building brand in China.

Sales have increased, but Cyrus is still losing money. At the end of last month, Cyrus issued an announcement about last year's pre-loss. The announcement shows that the net profit and loss of Cyrus belonging to the owner of the parent company last year was 2.1 billion yuan to 2.7 billion yuan. As for the reasons for the loss, the official also pointed out in the announcement that it is mainly due to the high investment in R & D of high-end intelligent electric vehicle core technology and products, resulting in an increase in R & D costs and labor costs, affecting the current performance. In addition, sales were sluggish in the first three quarters of last year, resulting in higher fixed and related fees, affecting the current performance. In order to improve the sales in the fourth quarter of last year, increase the intensity of market promotion, and the high cost of raw materials and other reasons, affected the current performance.

In fact, Cyrus has been losing money in recent years. After cooperating with Huawei, the loss has further increased. The data show that from 2019 to 2022, Selis lost more than 10 billion yuan, of which the non-net profit loss deducted from 2019 to 2022 was 884 million yuan, 2.308 billion yuan, 2.793 billion yuan and 4.296 billion yuan respectively. Despite the increased losses, Cyrus is unswervingly strengthening its cooperation with Huawei. Zhang Xinghai, chairman of Cyrus, once said in an interview with the media: "if BMW comes to talk to me about joint venture car construction at this time, I will not do anything. I will unswervingly cooperate with Huawei across the border."

Relevant data show that the two sides worked hand in hand in 2021, when the two sides jointly launched the first cooperative model, Cyrus Huawei Smart SF5, with a price range of 21.68 yuan to 246800 yuan, which was sold on Huawei's official website and entered Huawei stores and flagship stores. Unfortunately, Huawei's smart SF5 didn't sell well when it went public, with only 8169 Cyrus SF5 sold in 2021.

In order to increase sales, the two sides worked together to upgrade and launch the new energy brand AITO. The brand is developed, produced and delivered by Cyrus, while Huawei is mainly responsible for the promotion of brand sales channels. In 2022, MJ brand successively launched MJ / M5 EV and M7 models. In July 2022, "Chongqing Xiaokang Industrial Group Co., Ltd." changed its name to "Cyrus Group".

At that time, many people inside and outside the industry expressed their views on the cooperation between the two sides. Some believe that Cyrus, holding hands with Huawei, can use Huawei's technology and human resources to increase its popularity and sales. Of course, some people think that the cooperation between Cyrus and Huawei is to hand over the soul to each other, and once the cooperation is broken, Cyrus is very passive.

However, judging from the cooperation between the two sides over the past few years, Selis's sales and popularity have indeed been greatly improved, and more and more car companies have seen its success and choose to build cars in cooperation with Huawei. At present, Sellis is not the only company that cooperates with Huawei to build cars, but also BAIC, Changan, Chery, Jianghuai and so on. There will be more cooperation with Huawei in the future. In this context, Cyrus is also in a disadvantageous position. But at present, even so, Cyrus has to strengthen the cooperation between the two sides, after all, away from the aura of Huawei, Selis's own sales will be how much?

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