Huawei's "circle of friends" has added another member.
On the evening of December 1, JAC Motors (600418) announced that the company signed the "Intelligent New Energy Vehicle Cooperation Agreement" with Huawei Terminal *** (hereinafter referred to as "Huawei Terminal") in Hefei on the same day, and reached a cooperation agreement on a new intelligent networked new energy vehicle.
According to the announcement, JAC is a well-known integrated automobile manufacturer integrating R&D, manufacturing, sales and service of commercial vehicles, passenger cars and powertrains and related diversified businesses, and Huawei terminal is a world-leading terminal equipment manufacturer, with products covering mobile phones, wireless broadband terminals, smart home terminals and terminal clouds, etc., and has a dominant position in the industry in terms of terminal product definition, R&D technology, brand, sales, and service. Both parties have the legal qualifications to sign this agreement, and there is no legal obstacle or major event affecting JAC's ability to continue to exist and perform this agreement at the time of signing this agreement.
Based on Huawei's intelligent vehicle solutions, the two parties will cooperate comprehensively in product development, manufacturing, sales, service and other fields, and strive to build luxury intelligent networked electric vehicles.
According to the agreement, JAC and Huawei Terminal promise to fully guarantee the investment of resources at all stages of the cooperation project under this agreement in accordance with the agreed responsibilities and division of labor, including but not limited to human resources, production line resources, chain resources and funds.
In the field of product development, JAC is responsible for the product development of cooperative models, and the specific division of labor is subject to the relevant agreements signed between Huawei terminals and/or affiliates and JAC.
In the field of manufacturing, JAC is responsible for building an advanced production base, giving full play to JAC's advantages in the field of advanced manufacturing, relying on the industrial Internet and mature manufacturing management experience to provide users with all-round solutions for intelligent manufacturing, and building advanced manufacturing capabilities with the help of Huawei's terminal advantages in related fields, so as to achieve efficient delivery of cooperative models.
In the field of sales, in view of the global sales network and strong brand marketing and user operation capabilities of Huawei terminals, JAC Motors agrees that Huawei terminals or its designated third parties will exclusively provide sales services for cooperative models worldwide, including but not limited to marketing, sales, users, and ecological operations. The export of the cooperative model can only be implemented after the two parties have reached an agreement.
In the service field, in order to achieve efficient, convenient, and high-quality delivery, Huawei devices and JAC Motors will jointly build a "user-centric" service system around the cooperative models.
Before this disclosure of the cooperation with Huawei terminals, when Huawei's concept was on fire in October this year, JAC Motors had a wave of stock price rises.
On October 28, the company issued a risk enhancement announcement, saying that since August 25, 2023, the company's ** cumulative increase has reached as high as 6799%, and the Shenwan automobile index rose by 9 in the same period69%, and the Shanghai Composite Index fell by 151%。The company has experienced significant fluctuations in the short term, and the company's current price-earnings ratio is significantly higher than the industry average, and there is a risk of overheating market sentiment, but there is no major change in the company's fundamentals, and there is no material information that should be disclosed and not disclosed.
Just this week, JAC Motors also became a bullish target for Huawei's concept.
On the evening of November 26, Changan Automobile announced that it had signed a "Memorandum of Investment Cooperation" with Huawei Technologies *** (hereinafter referred to as "Huawei"). After negotiation between the two parties, Huawei intends to establish a company engaged in the R&D, design, production, sales, and service of automotive intelligent systems and component solutions (hereinafter referred to as the "Target Company"), and Changan Automobile intends to invest in the Target Company and carry out strategic cooperation, and the two parties will jointly support the Target Company to become an industry leader in automotive intelligent systems and component solutions based in China, facing the world, and serving the industry.
On the afternoon of November 28, at the Zhijie S7 and Huawei all-scenario press conference, Yu Chengdong, executive director of Huawei and chairman of the intelligent vehicle solution BU, said that Huawei has issued an invitation to Celis, Chery, JAC, and BAIC to open their shares, and hopes that China FAW Group will join. It is reported that Huawei hopes to build an open platform for electrification and intelligence with the participation of the automotive industry, and will continue to work with more car companies on this open platform in the future.
Affected by the above news, JAC's share price once rose, but the company issued a "statement" on the company's official website on November 27, and later announced that the company and Huawei carried out strategic cooperation in 2019, but there is no substantial progress at present, so no relevant information was disclosed in the early stage. In addition, the Company has not received an invitation for joint investment from Huawei, and has not participated in matters related to investment and capital cooperation.
Since then, JAC's share price has begun to decline significantly. In the three trading days from November 29 to now, there has been a cumulative decline of about 12%.
According to the data, JAC's cumulative operating income in the first three quarters of 2023 was 3392.1 billion yuan, a year-on-year increase of 2316%, net profit 1$8.4 billion. From January to September, JAC sold a total of 44120,000 units, a year-on-year increase of 187%。From January to September, the cumulative export was 12690,000 units, a year-on-year increase of 5888%。
There is news on the Internet that Huawei and JAC will build a million-level new energy luxury executive sedan and MPV, and the cooperative brand is also named after "X-world", and it may be named "Aojie". However, it will take time to answer how the two sides will promote cooperation.