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On November 28, Chang 'an Automobile said in response to investors' questions on the listing plan of Avita on the investor interaction platform: Avita Technology develops independently, highly marketized operation, and deeply integrates strategic partner resources, and has independent listing plan in the future. In response to this news, Chang 'an automobile related personnel also responded: "In fact, Avita in November 2021 has proposed that the future will be listed independently, this is not a new statement, Avita's development strategy has not changed."

It is understood that, regarding the listing plan of Avita Technology, Chang 'an Automobile said in the latest disclosed investor relations activity record table at the beginning of November that Avita Technology develops independently, highly marketized operation, and deeply integrates strategic partner resources, and has independent listing plan in the future.

According to relevant data, Avita is a brand-new high-end automobile brand jointly built by Chang 'an Automobile, Ningde Times and Huawei in August last year. Avita Technology Co., Ltd., formerly Chang 'an NIO New Energy Automobile Technology Co., Ltd., was established on July 10,2018 and officially renamed Avita Technology on May 20,2021. In November 2021, Avita announced the completion of the first round of strategic financing, and completed the first round of strategic financing handover and industrial and commercial information change in March 2022, with registered capital increased from 288 million yuan to 1.172 billion yuan. After the capital increase is completed, the shareholding ratio of Chang 'an Automobile is diluted from 95.38% to 39.02%, and Ningde Times becomes the second largest shareholder of Avita Technology with 23.99% shareholding ratio.

In August 2022, Chang 'an Automobile announced that Avita Technology had completed Series A financing. This round of capital increase was led by the National Green Development Fund, and many investment institutions such as China Merchants Jintai, SDIC Juli, Weihao Chuangxin (consortium) and CITIC New Future under Weir Shares followed the investment. At the same time, Avita's existing shareholders Chang 'an Automobile and Southern Assets also made additional investments in this round, with a planned investment of 1.169 billion yuan and 100 million yuan respectively. After this round of financing, the shareholding ratio of Chang 'an Automobile increased from 39.02% to 40.99%, and the shareholding ratio of Ningde Times decreased from 23.99% to 17.10%, still the first and second shareholders of Avita Technology.

This time, Avita has an independent listing plan or has a certain relationship with the current situation of Chang 'an Automobile. At present, due to the impact of epidemic situation and other factors, Chang 'an Automobile's life is not very good. According to the latest third quarter financial report released by Chang 'an Automobile, in the third quarter of 2022, Chang' an Automobile's main revenue in a single quarter was 28.778 billion yuan, up 28.39% year-on-year; the net profit of parent in a single quarter was 1.042 billion yuan, down 17.47% year-on-year; the net profit deducted from non-profit in a single quarter was 739 million yuan, down 26.07% year-on-year; Debt ratio 56.9%, investment income 2.024 billion yuan, financial expenses-666 million yuan, gross profit rate 20.32%.

As for the decline in performance, Chang 'an Automobile responded that: affected by repeated epidemic situation, high temperature and power restriction, and shortage of suppliers' materials, in the first three quarters of 2022, the cost of manpower and material resources of the company increased greatly, and there was a large gap in terminal delivery. In fact, from the production and sales data of Chang 'an Automobile, it is not difficult to see the real status quo of Chang' an Automobile in the terminal market this year. Affected by this epidemic situation and other factors, Chang 'an Automobile produced 131,800 vehicles in August, down 19.26% year-on-year; sales volume was 138,700 vehicles, down 16.04% year-on-year. From January to September this year, Chang 'an automobile sales volume was 1.6807 million vehicles, down 2.97% year-on-year; self-owned brand sales volume was 1.323 million vehicles, down 2.01% year-on-year. Behind this, Avita also had to obtain financial support through listing financing.

At present, Avita's first model, the Avita 11, went on sale on August 8 this year. The new car is positioned as a pure electric medium-sized SUV, adopting the design style of coupe, based on the intelligent electric vehicle network platform (CHN) jointly developed by Chang 'an, Huawei and Ningde era. There are three models of the new car, with a price range of 349,900 - 409,900 yuan and two ranges of 555 kilometers and 680 kilometers. According to official data released: As of October 31 24:00, Avita 11 first batch of lock orders within 10 days has exceeded 5000 vehicles.

Under the background of rapid development of new energy vehicles, more and more brands begin to release pure electric high-end market and seek new development ways. As far as Chang 'an Automobile is concerned, with the Ningde era and Huawei's participation, its current planning has been preliminarily realized. According to the plan, Avita will be manufactured on the intelligent electric network automobile architecture co-created by Chang 'an, Huawei and Ningde Times in the future. At present, the planned product categories will include 11 products such as coupe, SUV and MPV. Capital is a crucial link for the survival of car-making. We can only raise funds continuously to improve the competitiveness of products and help the brand to develop upwards.

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