Morning News Evergrande Auto Releases Latest Performance Exposé, Volkswagen CEO Discusses Cooperation with Xiaopeng

Evergrande Auto exposes latest performance, Volkswagen CEO talks cooperation with Xiaopeng

【PhoneAuto Morning Report】Recently, Evergrande Auto released its latest annual performance report until December 31, 2021; Volkswagen and Xiaopeng Motors signed a long-term cooperation technology framework agreement, and the CEO commented on it; Samsung officially held the “Galaxy Unpacked” event in South Korea; Jiang Hairong, CMO of Honor China, posted on Weibo: “The long-awaited ‘Zen4’ chip has now been added to the Honor MagicBook X Pro Ryzen Edition, coming soon.”

According to the announcement of Evergrande Auto on the Hong Kong Stock Exchange, for the fiscal year ending December 31, 2021, the group incurred a loss of RMB 56.344 billion (RMB 7.665 billion in 2020). As of December 31, 2021, the group’s accumulated losses and shareholders’ losses were RMB 71.241 billion (RMB 12.997 billion in 2020) and RMB 39.339 billion (RMB 5.839 billion in 2020), respectively. As of December 31, 2021, the group’s cash and cash equivalents were RMB 2.453 billion (RMB 10.476 billion in 2020).

For the fiscal year ending December 31, 2022, the group incurred a loss of RMB 27.664 billion. As of December 31, 2022, the group’s accumulated losses and shareholders’ losses were RMB 98.906 billion and RMB 68.651 billion, respectively. As of December 31, 2022, the group’s cash and cash equivalents were RMB 220 million.

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Volkswagen has announced a blockbuster news on its official website: Volkswagen and Xiaopeng Motors have signed a long-term cooperation technology framework agreement. In the early stages of cooperation, they will jointly develop two Volkswagen brand electric vehicle models targeting the mid-size car market in China, and they will be launched in 2026. In addition, Volkswagen will invest $700 million in Xiaopeng Motors to acquire a 4.99% stake. Regarding this news, Stephan Wöllenstein, CEO of Volkswagen China, also mentioned Volkswagen’s next action plan on his personal Weibo account.

Volkswagen China CEO Bayrider and He Xiaopeng take a photo together

Bayrider wrote: “People often say ‘join forces’ – when partners join forces, our competitiveness will be jointly enhanced. Today, we announced two important collaborations: Volkswagen brand with Xiaopeng Motors, and Audi brand with SAIC Group, respectively. This is another milestone in our ‘in China, for China’ strategy for promoting electrification. With the help of new partnerships, the Volkswagen Group will accelerate the launch of new intelligent connected electric vehicle models and rapidly expand into new user groups and segmented markets.”

Samsung officially held the “Galaxy Unpacked” event in South Korea. This event is not only the first time Samsung has held it in South Korea, but it is also earlier compared to last year. At this event, the highly anticipated Samsung foldable flagship – Z Fold5, was officially unveiled. The starting price of the new device is $1799 (approximately RMB 12,868), and it will be officially available for sale in some countries on August 11.

Samsung Z Fold5 price

Honor China CMO Jiang Hairong posted on Weibo: “The long-awaited ‘Zen4’ chip has now been added to the Honor MagicBook X Pro Ryzen Edition laptop. Strong ‘core’, broad future, let’s look forward to it together,” announcing that the first Ryzen Edition laptop of the Honor MagicBook X Pro series is about to be released. Let’s look forward to it.

In the official poster, besides the eye-catching slogan “Zen4 is here as you wished,” some netizens also discovered the Easter egg “With such high energy efficiency of Zen4, wouldn’t it be even stronger with OS Turbo?” It is not difficult to guess that this time the Honor MagicBook X Pro Ryzen Edition will not only feature the new Zen4, but may also be equipped with OS Turbo, showcasing excellent user experience in terms of performance and power consumption.

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