[Text/Caiquansha & Dao Ge said Che Ma Jianyu] After acquiring Huawei’s Wenjie and other trademarks and appearance patents for 2.5 billion yuan, Cyrus issued a supplementary announcement on the evening of July 3. One of the core The content is the value of these "intangible assets

[Text/Caiquanshe & Dao Ge Shuo Che Ma Jianyu] After acquiring Huawei’s , wenjie, and other trademarks and appearance patents for 2.5 billion yuan, Cyrus issued a supplementary announcement on the evening of July 3, One of the core contents is the value of these "intangible assets". According to its announcement, after evaluation, the market value of the underlying assets on May 31, 2024, the base date of evaluation, was 10.233 billion yuan.

used 2.5 billion in exchange for over 10 billion in assets, and Thalys’ principal more than quadrupled. Amidst all the doubts, Cyrus may want to use this method to tell the market: I am not losing money. Yes, Cyrus certainly did not lose money, but the reason is not just the so-called intangible assets of over 10 billion, but the cost of avoiding "star termination".

At the recent Avita brand mid-year communication meeting, Changan Automobile Chairman Zhu Huarong mentioned this sentence when asked why he did not have more in-depth cooperation with Huawei: "Changan's strategy is to make cars. If you have your own brand, it cannot be someone else’s brand. If you are someone else’s brand, that would be wrong.”

This sentence may also break through the psychological barriers of car companies.

When the industry becomes a "brand", the cost of "terminating the contract" becomes greater

"It is difficult for SAIC to accept a single supplier providing us with overall solutions. In this way, it will become the soul, and SAIC will become the body. . For such a result, SAIC cannot accept it. Our soul must be in our own hands.” Chen Hong, chairman of SAIC Group, caused a sensation in the industry at the time and is still mentioned on some occasions today. and.

In fact, Zhu Huarong’s words are similar to the “soul theory”, but the “soul” here refers more to the brand or the “trademark”. It is worth noting that with the empowerment of Huawei, the aito world is rising rapidly and has gained popularity in the automotive market. According to public data, in June this year, the monthly delivery of all Aito models exceeded 40,000 vehicles. Among them, 17,200 aito and m9 were delivered; 18,500 aitowenm7 was delivered, and the cumulative sales in the first half of the year exceeded 110,000.

In the camp of new car-making forces, aito Wenjie has become a champion player. Along with this, of course, Wenjie is well known to everyone. Although Wenjie will still be sold in Huawei stores, at least the word "Wenjie" is no longer unknown. In this context, the significance of Thalys's acquisition of trademarks goes far beyond quadrupling the principal.

Assuming from the perspective of "conspiracy theory", what will happen if the relationship between Cyrus and Huawei breaks down one day in the future? There are not many examples to refer to in the automotive industry, but in the entertainment industry, there are quite appropriate examples. The famous singer Deng Ziqi's name change controversy made many viewers realize that the star's stage name originally belonged to the company and could be taken back after the contract was terminated. There are more than one such example in the entertainment industry, such as "Chen" of Deyun Club back then...

So, at this time, Cyrus acquired trademarks such as Wenjie, and you still think that the reason for not losing money is just that the principal doubled by 4 Times? Of course, if we take the entertainment industry as a reference, Huawei's "pattern" has been reflected at this moment. After all, the "stage name" in his hand does not look like a chain that controls car companies, and the idea that Huawei is "more and more substituting" is becoming more and more common. The easier it is to falsify.

Huawei understands the psychological barriers of car companies, and its road to becoming a supplier is becoming more and more stable.

As Zhu Huarong said, when making a car, you must have your own brand, not someone else’s brand. Car companies that cooperate with Huawei actually understand this truth. Avita, Lantu Auto, Warrior Technology, GAC Trumpchi, Deep Blue Auto, etc. have all signed cooperation agreements with Huawei, but none of them have signed cooperation agreements with Huawei. It’s about handing over the brand.

Of course, they may adopt the "hi" mode, which is the huawei inside mode that provides full-stack smart car solutions. For those car companies that have jointly built "brands" with Huawei, Huawei has also put the brand back. Thalys is not the first company to buy a "trademark" from Huawei. As early as May this year, Huawei transferred its registered "Xiangjie" trademark for transportation tools to Beijing New Energy Vehicle Co., Ltd.In June this year, Huawei transferred two of its registered "Zhijie" trademarks for transportation vehicles to Chery Automobile Co., Ltd.

Obviously, Huawei, which is determined not to build cars, does not intend to have its own car brand, and is even breaking away from car manufacturing. Of course, this does not mean that the relationship with the partner has been severed. According to Cyrus's announcement, the transaction will not affect the development of the joint business of both parties, and will further deepen the cooperative relationship. At the same time, the underlying assets will be exclusively used for the joint business of both parties. However, this further dispels Huawei's suspicion of "acting as a proxy". The separation of

from car manufacturing may also make it easier for Huawei to gain the opportunity to become the leading supplier, and judging from its past actions, this is Huawei's original intention. In November last year, Changan announced a new cooperation with Huawei. Huawei planned to establish a company engaged in the research and development, design, production, sales and service of automotive intelligent systems and component solutions, and Changan participated in the investment. One of the biggest features of this new company is the gradual release of equity shares to investors such as existing strategic partners and strategically valuable car companies.

It is worth mentioning that the profits of suppliers are not weaker than those of vehicle companies. Taking Bosch as an example, sales in 2023 will be 91.6 billion euros, and profits before interest and taxes will be 4.8 billion euros (approximately 37.7 billion yuan). The profits are beyond the reach of many vehicle companies.