Seres plans to invest in Huawei's wholly-owned subsidiary Yinwang Smart

On the evening of July 28, SERES announced plans to invest in Shenzhen Yinwang Intelligent Technology Co., Ltd. ("Yinwang" for short). If the transaction is successful, Yinwang will become a subsidiary of SERES. Currently, Huawei Technologies Co., Ltd. holds 100% of Yinwang's shares. Yinwang was established on January 16, 2024 with a registered capital of 1 billion yuan. Its main businesses include automotive intelligent driving solutions, automotive intelligent cockpits, intelligent vehicle control, intelligent vehicle cloud, and vehicle-mounted light. At present, five subsidiaries have been established in Dongguan, Hangzhou, Shanghai, Nanjing, and Suzhou, engaged in related businesses such as intelligent vehicle-mounted equipment manufacturing.