ByteDance has issued a statement addressing recent reports that interpreted "Saidou" as a "Doubao car brand" or as an indication of ByteDance entering vehicle manufacturing.

The company clarified in its statement that these interpretations are inaccurate, and that ByteDance has no plans to manufacture cars or launch an automotive brand. It specified that Saidou is not a car brand introduced by ByteDance or its Doubao unit, and there is no equity cooperation between ByteDance and Saidou.

ByteDance emphasized that its collaborations within the automotive industry, involving Doubao and Volcano Engine, are primarily focused on providing technological services such as the Doubao large model and intelligent cockpit solutions to industry partners. The goal is to assist these partners in enhancing the in-car smart interaction experience for users.

Information released by Saidou Technology indicates the company plans to hold a launch event on June 9, where it is expected to formally introduce a new automotive brand. It is understood that Saidou Technology was formed through the renaming and restructuring of Landian Technology, which is held by Seres Group Co.,Ltd. (ASX: 601127). According to a relevant source, Saidou Technology will focus on the development of AI-powered vehicles moving forward, aiming to seize the strategic opportunity presented by the deep integration of the automotive industry and artificial intelligence. The company will concentrate on the smart connected new energy passenger vehicle sector to build differentiated competitive advantages.

Regarding the relationship between Saidou Technology and Seres Group Co.,Ltd. (ASX: 601127), the source stated that Seres is a shareholder in Saidou Technology. The two parties will operate independently around their respective businesses while seeking collaborative development, all within the bounds of legal and regulatory compliance.