On the evening of November 5, Changan Automobile announced that the company's holding subsidiary Avita Technology has finally decided to introduce three investors including Ningde Times, a total of six investors to participate in the capital increase, a total amount of 2.42 billion yuan.
On the evening of November 5th, Changan Automobile (000625) announced that the company's holding subsidiary Avita Technology (Chongqing) Co., LTD. (referred to as: O vita technology) to the assets evaluation report for pricing, ultimately determine the introduction of chongqing era of ningde, fujian mindong, Joan, two certificate, the south of jiangxi assets, south three industrial fund investors, a total of six vita o investment subject to participate in the capital increase of science and technology, changan are increased participation in the form of a private agreement, total amount of 2.42 billion yuan.
According to the announcement, the capital increase and share expansion in cash, Changan Automobile plans to increase capital 500 million yuan (give up the same proportion of capital increase right), of which 183 million yuan is included in the registered capital, 317 million yuan is included in the capital reserve; Ningde Times plans to increase its capital by 770 million yuan, of which 281 million yuan is included in the registered capital and 488 million yuan is included in the capital reserve; Fujian Mindong plans to increase capital of 160 million yuan, of which 58.6085 million yuan is included in the registered capital, 102 million yuan is included in the capital reserve; Chongqing Cheng 'an plans to increase capital by 610 million yuan, of which 223 million yuan is included in the registered capital and 387 million yuan is included in the capital reserve; Two Jiangxi card plans to increase the capital of 60 million yuan, of which 22.934 million yuan is included in the registered capital, 38.0766 million yuan is included in the capital reserve; Southern Asset plans to increase its capital by 280 million yuan, of which 102 million yuan is included in the registered capital and 178 million yuan is included in the capital reserve; Southern Industry Fund plans to increase its capital by 40 million yuan, of which 14.615,600 yuan is included in the registered capital and 25.384,400 yuan is included in the capital reserve.
It is reported that after the completion of the capital increase, Avita Technology's registered capital will increase from RMB 288 million yuan to RMB 1.72 billion yuan, Changan Automobile shareholding ratio will be diluted from 95.38% to 39.02%, Ningde Times shareholding 23.99%, Fujian Mindong shareholding 5.00%, Chongqing Chengan shareholding 19.01%, Two Jiangxi Securities owns 1.87 per cent, Southern Asset 8.73 per cent and Southern Industrial Fund 1.25 per cent. Shanghai Nio Automobile Co., LTD. (" NiO ") did not participate in the capital increase, and its stake will be diluted from 4.62% to 1.13%.
Information shows that Avita Technology was founded in 2018 as a high-end intelligent electric vehicle brand under Changan Automobile. Before the capital increase, Changan Automobile and NiO jointly held shares. Company is committed to building China's own high-end national brand and realize its industrialization, in order to enhance the vitality of development, improve the operation efficiency and accelerate the integration of new energy automotive industry chain resources, and continuously extend the industrial chain development space, the capital and share equity diversification reform by introducing external resources, finally realize the smooth transition of the vita o technology company.
"This is another milestone in Avita's technology development. Under the blueprint of sustainable development, the first round of strategic financing is a strong implementation of the company's strategic objectives." Benhong Tan, Chairman and CEO of Avita Technologies, said, "Combining the strengths of industry leaders, Avita Technologies offers unique thinking and new action plans to build internationally competitive Chinese brands. Next, Avita technologies will soon launch A Series A funding round with plans for an independent listing in the future."
Cell network, according to previously released changan planning, the next five years, vita o science and technology will be based on CHN (changan C, H, huawei, ningde age N) architecture to launch five models, among them, code-named E11 models based on a new generation of intelligent electric platform, positioning midsize SUV, smart cars carrying huawei HI solution, It is expected to be listed at the end of this year.
It is worth mentioning that Changan Automobile said that after the completion of the capital increase, Avita Technology from the company's holding subsidiary into an associated enterprise, no longer included in the scope of consolidated statements, using equity method for subsequent accounting. Upon completion, the transaction is expected to increase net profit by approximately RMB700 million based on avita Technologies' financial information and fair value as of December 31, 2020.
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