today,Cyrus officially landed on the Hong Kong Stock Exchange, becoming the country's first luxury new energy vehicle company with "A+H" shares listed in both places, with an opening market value of over HK$210 billion. Cyrus raised a net amount of HK$14.016 billion, making it the largest IPO of a Chinese car company to date and the largest Hong Kong IPO of a car company in the world since 2025.
Since the launch of the Hong Kong stock offering, the subscription enthusiasm for Cyrus has continued to rise, with the public offering oversubscribed 133 times and financing subscription exceeding HK$170 billion.
The prospectus shows that about 70% of the proceeds from the Hong Kong IPO will be used for research and development investment, and about 20% for investment in diversified new marketing channels, overseas sales and charging network services.
In 2021, Cyrus and Huawei collaborated cross-border to launch the Wenjie brand, establishing a brand positioning that reshapes luxury with wisdom.
Up to now, the Wenjie brand has launched four models: Wenjie M9, Wenjie M8, Wenjie M7, and Wenjie M5, with a total of more than 800,000 vehicles delivered.
Among them, the Wenjie M9 ranks first in sales of 500,000-yuan luxury models and continues to set monthly sales records; the Wenjie M8's cumulative delivery exceeds 100,000 units, and it has been the sales champion in the 400,000-yuan class for five months after its launch; the all-new Wenjie M7 delivered more than 20,000 units within 36 days of its launch and has become a phenomenal hot-selling model.
According to the "Research on the Health of New Energy Vehicle Brands in the First Half of 2025" released by Jielan Road, the Wenjie brand won the first place in the automobile brand development confidence index in the first half of 2025, and the Wenjie M9 ranked first in the NPS list of new energy vehicles with 85.2 points.
In addition, in the ranking of the top 500 Chinese companies, Cyrus ranked 190th, a significant jump of 270 places from last year, becoming one of the fastest growing companies in this list.
Thalys President Zhang Zhengping said in an interview that the company will expand globally and is not worried about Huawei's cooperation with other automobile companies.
Thalys has been listed on the Shanghai Stock Exchange before, but by listing in Hong Kong, China, the company can be known to a wider and more international investor group.The US$1.8 billion raised by the Hong Kong listing will provide Cyrus with funds to expand overseas and catch up with companies such as Tesla in emerging industries such as humanoid robots.
“We want to go global, which will make it easier for our customers and investors to understand Thalys’ business.” Zhang Zhengping said in an interview with Bloomberg TV.
Zhang Zhengping said: "We will start from neighboring countries and will not expand to all countries overnight. We will adopt a step-by-step approach to ensure that every country we visit can provide customers with exactly the same functions and services."
While Huawei is key to Cyrus' success, it has also been building partnerships with other automakers in recent years, such as Chery and Chongqing Changan Automobile.
Zhang Zhengping is not concerned about the additional competition that other car brands equipped with Huawei technology may bring. He said that similar concerns once appeared when Tesla entered the Chinese market, but these concerns proved to be unfounded because Tesla instead pushed the entire industry to launch better products.
In addition to the automotive business, Cyrus is now also planning the next important track, cooperating with ByteDance to develop humanoid robots, which is similar to Tesla's approach to building the Optimus humanoid robot.
Zhang Zhengping said that hiring housekeepers is still a luxury today. “In the future, when intelligence redefines this luxury, this role will be taken on by robots.”