"Buy, buy, buy" seems to have become the main theme of Thalys recently.

In July alone, Thalys made two high-profile moves. First, it spent 2.5 billion yuan to acquire the Wenjie trademark, and then publicly announced its intention to invest in Shenzhen Yinwang Intelligent Technology Co., Ltd.

Image source: Thalys Group Announcement

"Shenzhen Yinwang" should be familiar to Huawei fans. It is a new company established with a 1 billion yuan investment from Huawei, specializing in the manufacturing of smart in-vehicle devices and the research and development of automotive components.

Although Thalys has not yet finalized the specific amount of investment, the news sent its share price soaring by nearly 5.32% on the day, pushing its market value beyond the 117.7 billion yuan mark.

After two consecutive spending sprees, it was expected that Thalys would tighten its belt. However, less than two weeks later, Thalys was ready to dip into its piggy bank again.

According to its recent announcement, Thalys Group plans to acquire a 19.355% stake in its subsidiary Thalys Automobiles, held by second-largest shareholder Jinxin Fund, at a price of 1.329 billion yuan.

Image source: Thalys Announcement

If the acquisition goes smoothly, Thalys Automobiles will become a wholly-owned subsidiary of Thalys Group.

It's worth noting that this is not Thalys' first time increasing its stake in its subsidiary. In mid-June, Thalys acquired more than half of Thalys Electric's shares for a market-high price of 1.254 billion yuan. (The shareholding structure of Thalys Electric is shown in the image below)

Image source: Thalys Announcement

Thalys' frequent use of its financial might is undoubtedly linked to its thriving revenue performance.

After turning a profit in the first quarter, Wenjie's sales have continued to grow, maintaining its position as an industry stalwart. Both the new M7 Ultra, which has been on the market for less than a year, and the luxury flagship M9 consistently rank high on the list of new forces in the industry.

With a solid foundation and the upcoming launch of the new M7 Pro in the second half of the new energy market, Thalys naturally has the confidence to invest, and the next acquisition may already be on the horizon.