On August 20, according to Caijing News, after nearly nine months, the true face of the joint venture between Huawei and Changan finally began to gradually emerge.

After yesterday's board meeting of Changan Automobile and the deliberation and adoption of the "Proposal on Avita's External Investment Project Plan," on August 20, Avita Technology signed an Equity Transfer Agreement with Huawei in Chongqing. Avita Technology agreed to purchase 10% of the equity of Shenzhen Yinwang Intelligent Technology Co., Ltd. (referred to as "Yinwang") held by Huawei for RMB 11.5 billion.

As of now, Yinwang's ownership has officially changed from wholly-owned controlled by Huawei to jointly held by two major shareholders, with Huawei and Avita Technology holding 90% and 10% respectively. Based on Avita's investment of RMB 11.5 billion to purchase 10% equity, the valuation of Yinwang will reach RMB 115 billion.

Established in January of this year, Yinwang's business scope includes intelligent driving solutions for automobiles, intelligent cabins for automobiles, intelligent automobile digital platforms, intelligent car clouds, AR-HUD and intelligent car lights, among others. In the months since then, Yinwang has registered and established multiple subsidiaries in Dongguan, Nanjing, Suzhou, Shanghai and other places.

" This transaction is the beginning of the joint venture between Changan Automobile and Huawei, but it may not be over yet. Avita is only one of the participants and related parties of Changan Automobile in Yinwang, not the 'only' one of Changan. "

This view is not without basis. In the Investment Cooperation Memorandum issued by Changan Automobile in November last year, it was mentioned that Party B (Changan Automobile) and its "affiliates" intend to acquire equity of Yinwang, with a proportion of "not more than 40%" rather than the "10%" mentioned in the above agreement. In July of this year, Zhu Huarong, chairman of Changan Automobile, explicitly stated that the joint venture company with Huawei is being orderly promoted, and if approved, Avita will also "participate" in the new joint venture project. At that time, there were also insiders who told reporters that in the future, Avita, Shenlan, Chang'an Qiyuan or others will have a deep empowerment for the new company.

After the success of Smart Select Car, the "Yinwang model" of establishing a new company with intelligent automobile solution suppliers and automobile manufacturers investing and participating was undoubtedly another attempt. From Yu Chengdong's "remote" invitation to FAW, to Huawei's invitation to Smart Select Car's "Four Worlds" partners to invest together, to the official entry of Avita now, the industry generally believes that in addition to Changan's system, the voice of other car companies investing is also expected to accelerate.

In July of this year, Sokon Industry Group announced its intention to join the investment in Yinwang; earlier, You Zheng, deputy general manager of Dongfeng Automotive Group Co., Ltd., said that he is actively working with FAW Group to promote the business of participating in the intelligent automobile solution business of Huawei. From its own positioning, Yinwang has been very clear and clear since its establishment, that is, "to become a company with diversified equity."

At the same time as the introduction of the second largest shareholder, Yinwang's related trademarks are also under application for registration. Caixin learned from the State Intellectual Property Office Trademark Office that since entering 2024, Huawei has applied for the registration of dozens of trademarks related to Yinwang, which are currently in the examination process.