Lei Jianping on April 17
Chongqing Changan Automobile Co., Ltd. (stock code: 000625, stock abbreviation: Changan Automobile) today released its 2023 financial results. According to the financial report, Changan Automobile's revenue in 2023 will be 151.3 billion yuan, an increase of 24.78% from 121.25 billion yuan in the same period last year.
Changan Automobile's net profit in 2023 will be 11.327 billion yuan, an increase of 45.25% from 7.8 billion yuan in the same period of last year, and its net profit after deducting non-profits will be 3.78 billion yuan, an increase of 16.19% from 3.255 billion yuan in the same period of last year.
Changan Automobile also disclosed the business situation of the company's subsidiaries, among which, AVATAR's revenue in 2023 will be 5.643 billion yuan, the operating loss will be 3.685 billion yuan, and the net loss will be 3.693 billion yuan.
AVATR Technology's revenue in 2022 will be 28.337 million yuan, with a net loss of 2.015 billion yuan, and Deep Blue Automobile's revenue in 2023 will be 25.88 billion yuan, with an operating loss of 3 billion yuan and a net loss of 2.999 billion yuan.
Changan Automobile said that during the reporting period, Shenlan Automobile accelerated the development of new energy vehicles, enriched the Shenlan brand product line, and increased R&D investment, resulting in losses. AVATR is in a period of strategic investment, and has invested a large amount of resources in product research and development, brand promotion, channel building, and the introduction of technical talents, resulting in losses.
AVATR is valued at 14.085 billion
In September 2023, Changan Automobile announced that it would increase its capital in AVATR Technology. Among them, Changan Automobile increased its capital by 1.23 billion yuan, Southern Assets increased its capital by 300 million yuan, Chongqing Industrial Fund of Funds increased its capital by 363 million yuan, Chongqing Cheng'an Fund Phase III increased its capital by 363 million yuan, Chongqing Chang'an Innovation Fund increased its capital by 150 million yuan, Guangzhou Kainan Xuanyuan Fund increased its capital by 200 million yuan, Guangzhou Yuekai Intelligent Fund increased its capital by 94 million yuan, and Bank of Communications Investment increased its capital by 300 million yuan, totaling 3 billion yuan.
The transaction valued AVATR Technology at 14.085 billion yuan.
After the transaction, Changan Automobile holds 40.99% of the shares of AVATR Technology, CATL holds 14.1% of the shares, Chongqing Chengan holds 11.17% of the shares, Southern Assets holds 7.81% of the shares, Fujian Mindong holds 2.94% of the shares, Liangjiangxi Securities holds 1.1% of the shares, Southern Industrial Fund holds 0.73% of the shares, NIO holds 0.67% of the shares, Green Fund holds 4.46% of the shares, Jiaxing Juli Fund holds 2.14% of the shares, and Qingdao Yuewan Fund holds 1.47% of the shares , Huzhou Chuangsheng Chiming Fund holds 1.39%;
Chongqing Cheng'an Fund Phase II holds 0.93%, Tianjin Weihao Haihe Fund holds 0.65%, Ningbo Yongxin Weihao Fund holds 0.56%, Yiwu Weihao Chuangxin Fund holds 0.28%, Chongqing Industrial Fund of Funds and Chongqing Cheng'an Fund Phase III hold 2.13% respectively, Chongqing Chang'an Innovation Fund holds 0.88%, Guangzhou Kainan Xuanyuan Fund holds 1.17%, Guangzhou Yuekai Smart Fund holds 0.55%, and BOCOM Investment holds 1.76%.
AVATR has just undergone a change of coach
In December 2023, when Huawei Automobile's BU was spun off and Changan Automobile became a shareholder, AVATR Technology, a subsidiary of Changan Automobile, changed its leadership.
Among them, Zhu Huarong, who served as Secretary of the Party Committee and Chairman of Changan Automobile, directly served as the chairman of AVATR Technology. Wang Xiaofei, vice president of Changan Automobile and chairman of Shenlan Automobile, assisted the chairman of AVATR Technology in the company's enterprise operation, major project promotion, and key business operations.
Tan Benhong no longer serves as the chairman and CEO of AVATR Technology, but instead serves as the deputy secretary of the Party Committee of Changan Automobile.
On December 14, 2023, Chen Zhuo was appointed as Senior Executive Vice President of AVATR Technology. Soon after, Chen Zhuo served as the president of AVATR Technology, and was fully responsible for the operation and management of AVATR Technology.
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