Changan and Seres plan to purchase shares of Shenzhen Yinwang Intelligent Technology Co., Ltd.

Changan Automobile and Seres have both announced plans to purchase shares in Shenzhen Yinwang Intelligent Technology Co., Ltd., each intending to purchase a 10% stake, with a total value of approximately RMB 11.5 billion. If the transaction is successful, Huawei will hold 80% of Yinwang, while Changan and Seres will each hold 10%. Yinwang is committed to providing automakers with a variety of intelligent solutions, including driver assistance systems, in-vehicle operating systems, in-vehicle optical systems, and vehicle control systems. Thanks to the success of its Hongmeng Intelligent Driving technology, Yinwang's operating income is growing rapidly, with revenues of RMB 2.098 billion, RMB 4.70 billion, and RMB 10.435 billion from 2022 to the first half of 2024, respectively. With the increase in cooperative projects and the promotion of Hongmeng Intelligent Driving technology, Yinwang is expected to become an important supplier in the new energy era.