01. Cyrus has made a lot of money. If you want to say who has made the most in the A-share market in recent years, Cyrus will definitely be among the top few. Since October 2020, the company's stock price has increased more than 10 times. Especially in the four years since it ann

2024-11-11 13:54:07 entertainment 7248℃

01, Cyrus has made a lot of money

If we want to say who has made the strongest push in the A-share market in recent years, Cyrus will definitely be among the top few.

Since October 2020, the company’s stock price has increased more than 10 times. Especially in the four years since it announced its cooperation with Huawei to create the "aito world" brand, Cyrus has been at the forefront, and its every move has affected the hearts of investors.

As long as good news comes from the market, this stock will skyrocket like crazy. On the contrary, it can drop to the limit that makes people feel heartbroken. I still remember that on June 25 this year, a negative rumor among the public caused the stock price of Thalys to fall to the limit after a flash crash. The market value suddenly evaporated by 14.4 billion yuan, which frightened many investors at the time.

Recently, due to the positive impact of the third quarter financial report, Cyrus is back again.

After the market opened on November 4, 2024, Cyrus's stock price quickly hit the daily limit, with an increase of 10%; it hit the daily limit again the next day (November 5), with the market value reaching 208.131 billion yuan, setting a record high in the company's more than 30 years of existence.

Tianyancha app shows that Zhang Xinghai, the founder of Sailis Group, and the Zhang family behind him, indirectly or directly hold about 29.8% of the shares of Sailis Group. In other words, when the market value of Thalys exceeded 200 billion yuan, the total net worth of the Zhang family skyrocketed to nearly 60 billion yuan.

As of the close of trading on November 8, Cyrus’s stock price had dropped slightly to 134.22 yuan per share, with a market value of 202.643 billion yuan.

html What is the concept of a market value of 7.2 trillion in the automotive industry? The combined market values of the new car-making forces NIO and Xpeng Motors are not that high. In the A-share market, it even surpassed SAIC Motor and Guangzhou Automobile Group.

A retail investor told Caijingtianxia that he bought Cyrus at 98 yuan per share and chose to clear the position at a high price on November 5. Even though I didn’t invest much, I still made enough money to buy an iPhone 16 pro.

Compared with retail investors, Zhang Xinghai and the Zhang family behind him have gained enough wealth during this period to buy more than 7.5 million iPhone 16 pro.

In the "2024 Hurun Rich List", compared with the founders of many car companies such as BYD, CATL, and Ideal Auto, the Zhang family's net worth is the only one with positive growth. Zhang Xinghai and Yan Min ranked 239th on the list with a wealth of 20 billion yuan, and their brothers Zhang Xingli and Zhang Xingming both tied for 618th on the list with a wealth of 8.5 billion yuan.

How good is Cyrus’ financial report to push its market value to 200 billion yuan?

financial report shows that the company achieved revenue of 41.58 billion yuan in the third quarter, a year-on-year increase of 636.6%, and net profit attributable to the parent company was 2.41 billion yuan, a year-on-year increase of 354.09%. Both revenue and net profit exceeded the previous performance forecast.

If the timeline is shortened, in October alone, the company's new energy vehicle sales were 36,011 units, of which 33,921 were Cyrus vehicles. It is generally recognized by industry insiders that at least 90% of sales are brought about by the industry.

Extending the timeline, as early as the first quarter of this year, Cyrus began to turn a profit, becoming the fourth profitable new energy vehicle company in the world after Tesla, BYD, and Ideal. At that time, Cyrus's gross profit margin level had reached over 20%, surpassing Ideal and Tesla, and almost competing with BYD.

By the third quarter, the company’s gross profit margin had exceeded that of most car companies in the industry, with the overall gross profit margin reaching 25.53%.

In addition, based on rough calculations of the revenue, net profit and sales of various car companies in the third quarter, Cyrus's bicycle revenue has reached 311,200 yuan, and its net bicycle profit is approximately 21,900 yuan. For comparison, Li Auto’s bicycle revenue is approximately 280,700 yuan, and its net bicycle profit is approximately 18,000 yuan.

02, comprehensive learning from Huawei

Over the years, the products of Cyrus and Huawei's cross-border cooperation include medium-sized SUVs, medium and large SUVs, and large SUVs. The starting prices range from 200,000 yuan to 40 More than 10,000 yuan.

Looking at the performance turnaround, Zhang Xinghai, the founder of Thalys Group, who is over 60 years old, can finally feel proud. However, the industry is still quite critical of Cyrus' performance. In the eyes of some industry insiders, if it weren't for Huawei, Cyrus would still be struggling in the quagmire of losses. The outside world often ridicules him for just "winning by lying down".

But Zhang Xinghai himself, including those within Thalys, do not seem to shy away from this argument. In the first half of this year, when accepting an institutional survey, Cyrus emphasized that it must resolutely follow the path of joint cross-border cooperation and not go it alone; it must resolutely work on profitable cars and not lose money.

▲The welding workshop of Thalys Auto Phoenix Smart Factory in Shapingba District, Chongqing

In order to do a good job in cross-border car manufacturing, according to "Financial World", Huawei's genes have now penetrated into every capillary vessel of Thalys.

In fact, Zhang Xinghai liked Huawei's management model very much before he cooperated with Huawei to build cars. According to Chu Bin, an employee who has worked at Thalys for more than 10 years, there are two important books on the company's oa office system that everyone can read.

This book is a red-covered copy of the "Basic Law for the Development of a Well-off Society", which is mainly aimed at managers and guides them on how to perform their duties and follow the principles of doing things. The other book is "The Cyrus System" by Blue Paper, which mainly focuses on the manufacturing system and guides employees on how to perform specific operations. According to his understanding, Zhang Xinghai specially invited Wu Chunbo and others who had compiled the "Huawei Basic Law" to draft the Red Book.

According to Chu Bin’s recollection, after cooperating with Huawei, the other party sent a team to Chongqing to guide car manufacturing, and each department was assigned a Huawei engineer. This person is equivalent to the department management and can observe all the content of the Thalys department meetings.

And after cooperating with Huawei, Cyrus introduced Huawei's quality management system and implemented the terms in the document one by one, throughout all aspects of research and development, production, sales and supply.

As Cyrus CTO Zhou Lin said before, Huawei engineers are not as familiar as Cyrus employees in terms of car building, but in terms of user experience, the Huawei team has more say.

Chu Bin particularly emphasized that management under the Huawei system pays attention to details, which is mainly reflected in time, tasks and results. Daily clearing and daily closing (that is, daily tasks must be completed on the same day) is a basic requirement.

So how strict are Huawei engineers on details? For example, if an error occurs in a certain software, many manufacturers often "release" it directly because they cannot reproduce the problem, allowing the potentially problematic products or parts to enter the next production step. But Huawei's attitude is that if Cyrus cannot explain this issue clearly, the vehicle will not leave the factory.

According to Chu Bin, the supply chain involved in the automobile industry is too long, and problems may arise in every link, but the method to solve the problem is the same, it depends on how deep you can delve into it. As an old employee who grew up with Cyrus, he is still very grateful to Huawei for requiring Cyrus to implement the Six Sigma management method. This method of reducing process variation and improving product quality has also brought benefits to the entire Cyrus organization. Come big changes.

But sometimes learning Huawei too thoroughly can also give Thalys employees a headache.

After working here for half a year, He Qi feels that Huawei's "wolf nature" culture has also been learned by Thalys.She told Caijingtianxia that the company encourages employees to be strivers and super strivers, but the selection depends on overtime hours.

Moreover, Cyrus has employees who specialize in writing articles and regularly publish articles for everyone to learn from. Many golden sentences such as "The loser fights to save himself, the winner raises a toast to celebrate" and "Wring out the water from the dry towel" are all derived from this. From the perspective of employees, this is a subtle influence.

If these are just a good example for Cyrus to learn from Huawei, then in order to do a good job in cross-border car manufacturing, Zhang Xinghai also spent a lot of money in the second half of 2024 to bind with Huawei.

On July 2 this year, Cyrus spent 2.5 billion yuan to acquire 919 trademarks (including the text and graphic trademarks of the Wenjie series) and 44 related design patents held by Huawei Technologies Co., Ltd. and its related parties.

Industry insiders said that the acquisition of the Wenjie trademark has enhanced the independence and autonomy of the Cyrus brand. Cyrus can have greater autonomy in brand operations, marketing and product development. In addition, this acquisition can be seen as a deepening of cooperation between the two parties, helping to achieve better synergies at the technical and market levels.

Another month passed. On August 23, a subsidiary of Cyrus planned to purchase 10% of Huawei’s shares in Yinwang, with a transaction amount of 11.5 billion yuan. At present, the first transfer amount of 2.3 billion yuan has been paid.

Ping An Securities pointed out that Cyrus’s investment in the stock is attractive and has great potential for subsequent appreciation. It is estimated that when the company reaches maturity, its revenue is expected to reach 127.5 billion to 165 billion yuan, and its annual net profit is expected to reach 19.1 billion to 24.8 billion yuan. The valuation still has room for growth, and the company is an important player in the company. Shareholders are expected to benefit and look forward to future value-added flexibility.

03. Besides asking about the world, what else does Zhang Xinghai have?

In the 2023 financial report, Zhang Xinghai, the founder of Thalys Group, is still the actual controller of the company and holds extremely heavy management rights.

Although his son Zhang Zhengping has now served as chairman and president of Thalys, as a founder, he obviously has no idea of retreating behind the scenes.

Compared with the number of Zhang Zhengping’s public appearances, Zhang Xinghai is more active in the outfield this year.

On September 13, at the Wenjie User Center in Xinjiang, Zhang Xinghai, wearing a black T-shirt, jeans, and a black hat, handed the keys to the new car to the owner. It was difficult to see the traces of his age.

Chu Bin told Caijingtianxia that even though Zhang Xinghai is over 60 years old, he still works hard. During previous vehicle tests, the team had to drive vehicles on the Sichuan-Tibet Line, and he personally participated. During the Spring Festival, he also organized a fleet of vehicles, taking Wenjie cars and other luxury fuel vehicles, starting from Chongqing and heading west to Lhasa.

From starting out in the spring business to entering the vehicle industry, Zhang Xinghai stood at the forefront of his two entrepreneurial ventures. He bet on Huawei and led Cyrus to transform into new energy vehicles, which was regarded internally as the boss's third venture.

In the eyes of the outside world, once Cyrus leaves Huawei, there will be nothing. But is this really the case?

In fact, outside the world of inquiry, Zhang Xinghai also accumulated a lot of wealth when he started his second business. Especially in the mini car market, Cyrus still has a place today.

Chongqing Rich Automotive Industry Co., Ltd. ("Richi Electric"), the grandson of Cyrus, currently mainly produces new energy vehicles such as minivans, light buses, light trucks and mini trucks.

Tianyancha app shows that Zhang Xinghai’s nephew Zhang Zhengyuan serves as the chairman of the company.According to Chu Bin, Rich Electric was the earliest profitable business of Xiaokang Motors (the predecessor of Cyrus) in the field of electric vehicles, and it currently occupies the forefront of this market segment.

In December 2023, Rich Electric introduced a total of 1.54 billion yuan of investment from Haichen Holdings, Liangjiang Fund, BOE Fund, etc. by increasing capital and shares, all of which was used for the operation and development of its main business. The financial report of Thalys that year showed that Rich Electric achieved revenue of 2.116 billion yuan and a net profit of nearly 60 million yuan. In the first half of 2024, Rich Electric’s revenue was 1.142 billion yuan and its net profit was 63.9 million yuan.

In addition, although it is difficult, Cyrus does not dare to put all his life in the hands of others. In November 2023, the company established its own new energy brand " blue electric " and chose the most competitive price track of 100,000 yuan to 150,000 yuan. Although Blue Lightning has not become popular in recent years, Selis has not given up yet.

And judging from the third quarter report, even if Wenjie has made Sailis a lot of money, as Huawei Hongmeng Zhixing's circle of friends continues to expand, there are more and more voices in the market for Zhijie, Xiangjie, and Zunjie. Although these "four" In order not to compete for each other's territory, there are some differences in the classification of vehicle models. However, whether this will restrict the industry to the field of SUVs is also a matter of concern to many investors.

Zhang Xinghai is also very cautious. In addition to his main business, he has made investments to expand his family wealth as soon as possible while he has money.

In September 2024, Cyrus made a big move and spent 8.167 billion yuan to wholly acquire Longsheng New Energy. Longsheng New Energy is an intelligent manufacturing factory. Previously, Cyrus mainly leased super factories from it for production. . Now after the acquisition, Cyrus has ownership of the super factory, which can ensure independent control of its products.

In October, Thalys spent another 15 billion yuan on financial management. As soon as the news came out, public opinion exploded in the market, questioning why Thalys was so rich and didn't invest heavily in research and development.

In response, Cyrus responded that the tens of billions of financial management funds come from short-term book payments, with low bank interest. Buying financial management can also increase income and will not affect the company's normal production and operations. And the company emphasized that the investment products are financial products with high safety, good liquidity and low risk.

Currently, as China’s new energy car companies start the intelligent competition, Huawei Hongmeng’s leading advantage is also being caught up by its opponents. After more than thirty years of hard work in the commercial battlefield, Zhang Xinghai knew that he had to prepare for a rainy day. Maybe it’s not that he doesn’t want to retire, but that he can’t retire yet.