Avita Technology Completes Over 11 Billion Yuan Series C Financing, Plans IPO in 2026

Avita Technology announced on December 17 that it has successfully completed Series C financing, raising over 11 billion yuan. This round of financing was participated in by Changan Automobile, Yufu Fund, Southern Assets, Guotou Fund, Bank of Communications Investment, and other strategic and market investors.

According to the announcement by Chongqing Changan Automobile Co., Ltd., Changan plans to increase its investment by 4.551 billion yuan, Southern Industrial Asset Management Co., Ltd. plans to increase by 400 million yuan, Chongqing Anyu Private Equity Investment Fund Partnership (Limited Partnership) plans to increase by 2.8 billion yuan, and Bank of Communications Financial Asset Investment Co., Ltd. plans to increase by 700 million yuan, while other new shareholders plan to collectively increase by 2.65 billion yuan.

After the capital increase, Changan's shareholding remains at 40.99%, Southern Assets' shareholding is diluted from 7.81% to 6.34%, Anyu Fund holds 8.81%, and Bank of Communications Investment increases from 1.76% to 3.34%. Other existing shareholders of Avita Technology did not participate in this capital increase.

Avita Technology stated that it expects to officially conduct an initial public offering (IPO) in 2026.

Data shows that from 2022 to the first half of 2024, Avita Technology reported a cumulative net loss of 7.1 billion yuan. President Chen Zhuo previously revealed that the board of Changan Automobile Group set a goal for Avita Technology to achieve breakeven by the third or fourth quarter of 2025.
Since this year, Avita Technology has accelerated the expansion of its hybrid product matrix. After launching the extended-range versions of Avita 07 and Avita 12, the company's sales have begun to rise steadily, with sales in October and November exceeding 10,000 units consecutively, setting new delivery records. Chen Zhuo stated: “Extended-range technology is key to sales growth, and future products from Avita Technology will offer dual power options.”

In addition, Avita Technology has recently strengthened its cooperation with Huawei. On December 12, Avita Technology signed a comprehensive strategic cooperation agreement with Huawei, marking a new phase of collaboration. According to the agreement, the two parties will deepen cooperation in product development, marketing, and ecological services to support Avita Technology in building its next-generation series of vehicles.

After the agreement was signed, Huawei will further participate in Avita Technology's marketing efforts while retaining the HI model, incorporating characteristics of certain intelligent selection models. According to sources close to Avita Technology, the company recently released the Avita 06 model, which is expected to officially launch in the second quarter of next year, and this model is likely to be the first product under the new cooperation model, reflecting Huawei's involvement in marketing.

Previously, Avita Technology signed a share transfer agreement with Huawei, agreeing to purchase 10% of the equity held by Huawei for 11.5 billion yuan. This equity is held by Yingwang, a new company established by Huawei's automotive business unit, which carries Huawei's technology and resources.