Recently, Cyrus released its 2022 annual report. The financial report shows that in 2022, Cyrus’ revenue increased by 104% to 34.105 billion yuan year-on-year. Among them, the annual revenue of the new energy vehicle business was 24.934 billion yuan, an increase of 482.8% year-on-year, accounting for 73.1% of the company’s operating income.
The financial report shows that in terms of R & D, the R & D investment in 2020, 2021 and 2022 is 1.821 billion, 1.949 billion and 3.106 billion yuan respectively. AITO’s core R & D investment has accumulated more than 12 billion yuan.
The source of revenue is mainly because Cyrus achieved good sales results in 2022. The financial report shows that Cyrus’ AITO series sold nearly 80,000 vehicles in the first year of listing, exceeding the sum of the first year deliveries of the three first-tier new car-making forces.
The development and change of the new energy vehicle market is very fast. For car brands, new cars must be launched every year, otherwise they will be easily eliminated by the market. At present, the two products of the M5 and M7 are not very new cars for the market. At the Shanghai International Auto Show in April this year, the AITO M5 Smart Driving Edition was unveiled, which is a new car launched by the M5. It has improved the intelligent driving assistance on the basis of the M5.
The car is equipped with 1 overhead lidar, 3 millimeter wave radars, 11 high definition cameras and 12 ultrasonic radars, and uses GOD network. After superimposing antenna technology, the AITO Qinjie M5 Smart Driving Edition realizes high-level intelligent driving without relying on high-precision maps. It is a model close to L3 level autonomous driving.
But according to the data released by the media, the retail sales of the M5 in April were 1609 units, and the sales of the M7 were 304 units. This is not a particularly good result. I think whether the sales of the M9 will rise sharply depends on the M9 in the fourth quarter of this year.
"AITO Q Jie M9" will be officially released in the fourth quarter of 2023, with an expected price range of 50-600,000 yuan. It will be a flagship positioning model. In terms of manufacturing process, an integrated pressure erbium aluminum body is used to improve the body strength and lightweight. The body size is also very atmospheric, with length, width and height of 5230/1990/1760mm respectively, and the wheelbase reaches 3110mm.
In terms of intelligence, a panoramic smart cockpit is adopted, equipped with HarmonyOS 3 system, and equipped with HUAWEI AR-HUD, AI large model, sensor federation and other black technologies, providing the ultimate full-scene intelligent experience.
The space layout is also very flexible, can switch 3/4/5/6 seat mode, each seat is comfortable and spacious, beyond the MPV experience. It also supports intelligent identification of parking spaces, automatic connection after interruption and other functions, very worry-free.
Judging from the information that has been announced so far, the Qinjie M9 is a model that surpasses the Ideal L9 in terms of product strength. And the Ideal L9 is already a very successful model. Compared with the Ideal L9, the Qinjie M9 will have pure electric power in addition to range-extending hybrid. And the Qinjie M9 is bigger, more luxurious, and smarter. The price is also more expensive than the Ideal L9. So after this car goes on sale at the end of the year, it is worth paying attention to whether it can help the Qinjie car turn the tide.