Changan Automobile: Avita Technology plans to introduce 2 to 5 investors to increase the size of the new energy vehicle business.

On the evening of August 20th, Changan Automobile (000625) announced that Avita Technology (Chongqing) Co., Ltd., the company's holding subsidiary, intends to introduce two to five investors through public listing to increase capital and shares on the basis of asset evaluation report. the company participates in the capital increase in the form of a private agreement, and the price is in line with external investors.

The announcement shows that before the capital increase, Changan Motor held a 95.38% stake in Avita Technology; after the capital increase was completed, Changan Motor held a stake in Avita Technology, based on the results of this public listing transaction combined with the actual amount subscribed by the capital increase party, but the shares held by the original shareholders were not less than 39%.

In terms of performance, in 2020, Avita had total assets of 123 million yuan, total liabilities of 108 million yuan, asset-liability ratio of 87.8%, and a loss of 150 million yuan that year.

Changan Automobile said that this capital increase will introduce high-quality social capital, establish a corporate governance mechanism, operation and management system and operation mechanism that meet the needs of the market, enhance the core competitiveness of Avita science and technology, and promote the accelerated development of new energy vehicle business.

Battery Network noted that in November last year, Changan Automobile announced that it would join hands with Huawei and Ningde era to create a new high-end pure electric brand. Avita Technology changed its name from Changan Ulai New Energy Automobile Technology Co., Ltd. in May this year, Avita Technology will fully market-oriented operation, independent operation and independent development, and join hands with Changan Automobile, Huawei and Ningde era to create a world-leading and self-controllable intelligent electric network connection vehicle platform (CHN), to create a rich range of smart car products and build a "human-car home" smart life and smart energy ecology.

It is reported that in the next five years, Avita Technology will launch five models based on the CHN architecture. Among them, the model codenamed E11 is based on the new generation intelligent electric platform and the medium-sized SUV, is equipped with Huawei HI smart car solution. At present, the design prototype of E11 has been offline and the whole vehicle is being debugged.