HUAWEI Transfers Trademarks to SERES Insights and Implications
TapTechNews July 15th news, in tonight's 'With Hui' HUAWEI full-scenario product special session, Yu Chengdong, the Standing Director of HUAWEI, Chairman of the Terminal BG, and Chairman of the Intelligent Automobile Solution BU, had a conversation with Dong Yuhui, the senior partner of Oriental Select and the person in charge of 'With Hui', and they walked into HUAWEI Songshan Lake together.
Yu Chengdong talked about the reason for the transfer of trademarks such as 'Wenjie' in the live broadcast. He said: 'The brand of 'Wenjie' is now given to SERES at a very low price (this is) because of the requirements of national regulations, the brand owner and the manufacturer must be unified, and this brand must be owned by the production manufacturer, so we have transferred all four 'jie' to the car factory.' Yu Chengdong also said that HUAWEI has made a great investment in 'Wenjie', this brand is worth at least tens of billions of yuan. 'And even the name AITO has been transferred already, it is very difficult to register a four-letter brand starting with AI globally, it is a very good name.'
TapTechNews reported earlier that SERES announced on the evening of July 3 that the company's holding subsidiary, SERES Automobile Co., Ltd., plans to use self-raised funds of 2.5 billion yuan to acquire 919 series of text and graphic trademarks such as 'Wenjie', 'AIITO', 'AITOAUTO', 'AITOSELECT', etc., and 44 automotive exterior design patents held or applied for by HUAWEI TECHNOLOGIES CO., LTD. and its affiliates.
The announcement stated that the company has hired Zhongjing Minxin (Beijing) Asset Appraisal Co., Ltd. (referred to as 'Zhongjing Minxin') with securities practice qualifications to assess the subject assets. Zhongjing Minxin uses the income approach and the replacement cost approach, and conducts the assessment in accordance with the necessary assessment procedures. The value type of the assessment conclusion is market value. After assessment, the market value represented by the subject assets as of the assessment base date of May 31, 2024 is 10.233 billion yuan. This means that the transaction price between SERES and HUAWEI is a 2.5-fold discount compared to the market price.