On February 28, Cyrus announced today that its wholly-owned subsidiary Cyrus Automobile plans to purchase 10% of Shenzhen Yinwang Intelligent Technology Co., Ltd. held by Huawei for 11.5 billion yuan. It is understood that the prerequisites for the second payment and the prerequisites for delivery stipulated in the "Equity Transfer Agreement" have been met, and the parties have determined February 28, 2025 as the delivery date for this transaction.
It is reported that Huawei has issued a certificate of investment and a list of shareholders to Cyrus Automobile, and Cyrus Automobile has paid Huawei the second transfer price of RMB 5.75 billion as agreed in the Equity Transfer Agreement. As of now, all parties to the transaction will handle the industrial and commercial change registration of the equity transfer as soon as possible and actively and orderly promote the work related to the delivery of this transaction.
According to previous news, Cyrus announced on August 25 last year that Cyrus Automobile planned to purchase 10.00% of the equity of Shenzhen Yinwang Intelligent Technology Co., Ltd. held by Huawei Technologies Co., Ltd. by paying cash, with a transaction price of 11.5 billion yuan. In addition, at the end of October last year, Cyrus announced that it had paid the first transfer price of 2.3 billion yuan as agreed in the Equity Transfer Agreement to Huawei Technologies Co., Ltd.