On March 31, Shenzhen Yinwang Intelligent Technology Co., Ltd. (hereinafter referred to as "Yinwang") completed its industrial and commercial registration changes.

This subsidiary, which was independently spun off from Huawei's Intelligent Automotive Solution BU, has officially arrived.SailfishWith the investment from two major shareholders of Avatr, the board structure has also been adjusted.

Among them, Huawei's rotating chairman Xu Zhijun has been appointed as the chairman of Yinwang Company, and Huawei's executive director Yu Chengdong,Changan AutomobileChairman Zhu Huarong serves as the vice chairman.

On March 20, 2025, in Shanghai, at the China Household Appliances and Consumer Electronics Expo, Huawei showcased multiple new energy electric vehicles collectively.

The predecessor of Yinwang was Huawei's Intelligent Automotive Solution Business Unit (Vehicle BU). Since its establishment in 2019, its positioning has always been to provide incremental components and technical support to automakers. However, prolonged losses (a loss of 6 billion yuan in 2023) and market concerns about technological independence prompted Huawei to announce its spin-off as an independent company in November 2023, opening it up to external financing. The core objective of this adjustment is to transform Yinwang into a "smart automotive technology open platform" with diversified equity, enabling it to integrate into the industry ecosystem more flexibly while alleviating Huawei's financial burden.

The introduction of Seres and Avatr as shareholders, each holding 10% of the shares, marks the implementation of this strategy. The investment from these two automakers not only injected 11.5 billion yuan into Yinwang but also deepened technical cooperation and profit sharing through equity ties. Huawei's shareholding ratio has been reduced to 80%, leaving room for the introduction of more investors in the future.Changan AutomobileIt has been revealed that Chang'an has reserved 20% of its shares for expectations, which may be adjusted based on the progress of cooperation.

Despite Huawei extending olive branches to multiple automakers, so far only Seres and Avita have taken stakes. This is due to both the "historical accumulation" of cooperation between the two companies and Huawei, and the drive of practical interests. By holding shares in Yinwang, Seres and Avita can not only gain priority access to the next-generation technology but also participate in the decision-making process of the technology roadmap. In addition, Yinwang's valuation has reached 115 billion yuan, and taking stakes at an early stage implies greater appreciation potential.

After investing in InVision, Seres and Aion can influence technology allocation and business strategies through board seats to balance their dependence on Huawei. For example,SailunesThe plan aims to achieve "one million sets of supply" through lead generation, supporting the goal of producing and selling one million vehicles in three years.

Currently, Chery, BAIC GroupAlthough FAW and other automakers have not taken shares, they have already cooperated with引望 through Harmony Intelligent Driving, leaving much room for imagination. The equity changes in引望are not only a strategic adjustment by Huawei, but may also lead to a restructuring of the intelligent automotive industry chain. For automakers, transitioning from a "supplier and customer" relationship to a "shareholder and partner" relationship with technology companies allows for deeper resource integration, but it also requires navigating complex negotiations over technical standards and interest distribution.