Newshot Changan Automobile Plans to List 10% Stake in Avatr for Transfer, Transaction Price Approximately 3.2 Billion Yuan
ITHome, November 12 news: According to the Shanghai United Assets and Equity Exchange, Chongqing Changan Automobile Co., Ltd. today listed for transfer its 10% stake in Avatr Technology (Chongqing) Co., Ltd., with a transaction price of 3.1828 billion yuan and a disclosure end date of December 10.
After the transaction is completed, Changan Automobile will remain the largest shareholder of Avatr. ITHome lists Avatr's current shareholders and shareholding ratios as follows:
| Shareholder Name | Shareholding Ratio (%) |
|---|---|
| Chongqing Changan Automobile Co., Ltd. | 40.994 |
| Contemporary Amperex Technology Co., Limited | 9.1742 |
| Chongqing Anyu Private Equity Investment Fund Partnership (Limited Partnership) | 8.8068 |
| Chongqing Cheng'an Private Equity Investment Fund Partnership (Limited Partnership) | 7.2717 |
| Southern Industries Asset Management Co., Ltd. | 6.3439 |
| Bank of Communications Financial Asset Investment Co., Ltd. | 3.3446 |
| National Green Development Fund Co., Ltd. | 2.9046 |
| Shanghai Zhiyue Xintu No. 1 Enterprise Management Partnership (Limited Partnership) | 1.8815 |
| Hangzhou Industrial Investment Group Co., Ltd. | 1.5726 |
| Chongqing Industrial Investment Mother Fund Partnership (Limited Partnership) | 1.3832 |
| Other Shareholders | 16.3229 |
On June 30, Avatr submitted an application for listing to the Hong Kong Stock Exchange, with CITIC Securities and CICC as joint sponsors.
The prospectus shows that Avatr's full-year revenue in 2025 was 25.631 billion yuan, a year-on-year increase of 68.7%. After turning positive for the first time in 2024, gross profit expanded to 2.417 billion yuan in 2025, with the gross margin rising to 9.4%. Operating cash flow in 2025 was 2.315 billion yuan.
Avatr's losses during the periods of 2023, 2024, and 2025 were 3.693 billion yuan, 4.018 billion yuan, and 3.489 billion yuan, respectively.
In 2025, Avatr made a strategic investment of 11.5 billion yuan in Yinwang, holding a 10% stake, and shared 182 million yuan in profits from the associate company in 2025.
In terms of overseas markets, Avatr's overseas revenue in 2025 was 1.398 billion yuan, accounting for 5.5% of revenue, with an average selling price in overseas markets exceeding 300,000 yuan.
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