Core Insights - Changan Automobile announced the acquisition of a 10% stake in Shenzhen Yingwang Intelligent Technology Co., Ltd. from Huawei for a total of RMB 11.5 billion [2] - The investment cooperation memorandum signed between Changan Automobile and Huawei aims to support Yingwang in becoming a leading provider of automotive intelligent systems and components solutions globally [2] - The transaction is part of Changan Automobile's strategic layout to enhance its technological strength and market competitiveness in the smart automotive sector through deep collaboration with Huawei [5] Payment Schedule - The first payment of RMB 2.3 billion was made by Avita Technology on October 16, 2024 [3] - The second payment of RMB 5.75 billion was completed by Avita Technology on February 28, 2025, with the share transfer procedures finalized by March 31, 2025 [4] - The third payment was completed by October 10, 2025, marking the full payment of the transaction amount [5] Financial Impact - Changan Automobile stated that the acquisition will not change the scope of the company's consolidated financial statements and will not have a significant impact on its financial status and operating results in the short term [5]

8月20日，阿维塔科技宣布，其投资引望协议签约完成，正式成为后者的第二大股东。 8月19日晚间，长安汽车发布公告称，公司之联营企业阿维塔科技购买华为持有的引望10%股权，交易 金额为人民币115亿元。同时，阿维塔科技拟与华为、引望签署《股东协议》。本次交易后，阿维塔科 技对引望持股比例为10%，华为对引望持股比例为90%。 长安汽车（000625.SZ，股价12.32元，市值1221.4亿元）公告，此前披露，公司联营企业阿维塔科技拟 购买华为持有的引望10%股权，交易金额为115亿元。截至本公告披露日，阿维塔科技已向华为支付完 毕第三期转让价款34.5亿元，已支付完毕本次交易全部价款。 资料显示，引望主要从事汽车智能系统及部件解决方案研发、设计、生产、销售和服务，主要业务范围 包括汽车智能驾驶解决方案、汽车智能座舱、智能车控、智能车云、车载光等。 每日经济新闻综合公开信息 （文章来源：每日经济新闻） ...

Group 1: Overall Market Trends - In 2024, the Chinese automotive industry is expected to show resilience amid geopolitical tensions, supply chain restructuring, and evolving consumer demand, with M&A activity projected at nearly 168.1 billion yuan and 528 transactions, reflecting a slowdown in decline compared to 2023 [1] - The overall M&A transaction value and volume in the automotive sector are expected to decrease by 32% and 3.6% respectively compared to the previous year [1] Group 2: Vehicle Manufacturing - The commercial vehicle manufacturing sector has become a new focus, with 54 M&A transactions totaling 47.8 billion yuan in 2024, marking a significant decline of nearly 52% from the previous year [3] - Investment and M&A activities are primarily centered around new energy vehicles, with the transaction value for new energy passenger vehicles rising from 89% to 100% of total investments [3] - Traditional fuel commercial vehicle transactions have seen a notable rebound, driven by energy transition and strategic upgrades, as exemplified by Guangqi Hino's increased investment in hydrogen fuel cell technology [3] Group 3: Auto Parts Sector - The auto parts sector is projected to have 404 transactions with a total value exceeding 105.9 billion yuan in 2024, reflecting a 16% decline from the previous year [4] - The electric vehicle parts segment has experienced a significant drop in both transaction volume and value, with average transaction values decreasing by 59% due to supply-demand imbalances [6] - The intelligent automotive parts segment has seen a substantial increase, with average transaction values rising by nearly 110%, driven by technological advancements and market expansion [6] Group 4: Aftermarket Services - The aftermarket service sector has seen a decrease in M&A activity, with transaction values dropping by 31% compared to the previous year, primarily due to reduced investment in automotive trading activities [7] - Despite the decline, areas such as vehicle maintenance and charging services remain active, with significant opportunities arising from the increasing number of vehicles on the road [7] - The charging and battery swap station markets continue to attract capital, supported by the development of new energy vehicle infrastructure [7]