Core Viewpoint - Avita Technology (Chongqing) Co., Ltd. is accelerating its IPO process, having recently changed its name to Avita Technology (Chongqing) Co., Ltd. and undergone management changes, signaling a significant step towards its public listing [2][3]. Company Summary - Avita is a joint venture established by Changan Automobile, CATL, and Huawei, with a registered capital of approximately 3.07 billion yuan and a focus on electric vehicle production and related services [2]. - The company plans to submit its IPO application to the Hong Kong Stock Exchange in Q4 2023, aiming for a listing by Q2 2024, with CICC and CITIC Securities as joint sponsors [3]. - Avita has completed four rounds of financing from 2021 to 2024, raising a total of approximately 19 billion yuan [3]. - The company aims for global sales of 400,000 vehicles by 2027, 800,000 by 2030, and 1.5 million by 2035, with a projected annual revenue of 100 billion yuan by 2027 [4]. Financial Performance - Avita's sales increased from 12,000 units in 2022 to 35,000 units in 2023, with a significant growth expected following the launch of new models priced below 200,000 yuan [5]. - The company reported revenues of 28.34 million yuan in 2022, 5.645 billion yuan in 2023, and projected 15.35 billion yuan in 2024, with cumulative losses of 9.726 billion yuan over three years [6]. Industry Context - The trend of automotive companies pursuing listings in Hong Kong is growing, with Chery Automobile recently completing a successful IPO, raising approximately 9.145 billion HKD [7]. - Other companies like Seres and Dongfeng Motor Group are also advancing their IPO processes, indicating a competitive landscape for capital raising in the automotive sector [8].