Core Viewpoint - Avita, backed by Changan Automobile, CATL, and Huawei, is preparing for a Hong Kong IPO but currently struggles with sales and brand recognition compared to leading competitors [1][2]. Group 1: Company Background - Avita is a luxury electric vehicle brand created through collaboration between Changan Automobile, CATL, and Huawei, leveraging each partner's strengths [2]. - Changan Automobile, a major shareholder, provides support in smart manufacturing, supply chain, R&D, and distribution [2]. - CATL, the world's largest battery manufacturer, plays a crucial role in supporting Avita's technology and marketing efforts [2]. - Huawei, while not a direct shareholder, offers advanced smart automotive solutions through its HI model [2]. Group 2: Operational Model and Workforce - Avita employs a light asset operation model, giving it a competitive edge in the market [4]. - As of June 2023, Avita has 3,666 employees, with over 57.1% in technical and R&D roles, and has filed 1,326 patents since its inception [4]. Group 3: Product Line and Sales Performance - Avita launched its first mass-produced model, Avita 11, in August 2022, with plans to release additional models (Avita 12, 07, and 06) between November 2023 and April 2025 [4][5]. - The current sales target for 2023 is 220,000 units, but as of October, only 104,200 units have been sold, achieving 47.4% of the goal [10]. - The main sales model is Avita 07, while other models like Avita 11 and 12 have seen declining monthly sales [10]. Group 4: Financial Performance - Revenue projections show significant growth from 0.28 billion RMB in 2022 to an estimated 151.95 billion RMB in 2024, despite ongoing losses [12]. - The company reported a cumulative loss of approximately 11.3 billion RMB over the reporting period, with expectations of continued losses in 2025 [12]. Group 5: Strategic Partnerships and Future Goals - Avita has deepened its partnership with Huawei, investing 11.5 billion RMB for a 10% stake in Huawei's subsidiary, enhancing their collaboration [12][13]. - Future plans include launching 17 new models by 2030, with ambitious sales targets of 400,000 units by 2027 and 800,000 units by 2030 [15].

Core Viewpoint - Avita Technology (Chongqing) Co., Ltd. has initiated its IPO process just two months after completing its restructuring, aiming to become the first central enterprise in the new energy vehicle sector once the IPO is successful [1][2]. Company Overview - Avita is a joint venture established by three major players: Changan Automobile, Huawei, and CATL, positioning itself as a luxury new energy vehicle brand with high expectations from inception [2][5]. - The company aims to compete with established luxury brands like Mercedes-Benz, BMW, and Audi, targeting a global leadership position in high-end smart electric vehicles [5][10]. Financial Performance - Avita has reported cumulative losses of 11.31 billion yuan over the past three and a half years, despite a valuation exceeding 30 billion yuan [4][9]. - The company achieved a revenue of 12.21 billion yuan in the first half of 2025, marking a 98.5% year-on-year growth [10][12]. - The sales revenue from new energy vehicles for 2023, 2024, and the first half of 2025 was 5.54 billion yuan, 14.42 billion yuan, and 11.49 billion yuan, respectively [11]. Sales and Market Expansion - Avita's cumulative sales exceeded 100,000 units from January to October 2025, with a record monthly sales of 13,506 units in October, representing a 34% year-on-year increase [3][10]. - The company has expanded its market presence to over 34 countries and regions, with overseas revenue growing significantly [11]. IPO and Future Plans - The funds raised from the IPO will be allocated to product and technology development, brand building, sales network expansion, and working capital [4][12]. - Avita aims to achieve a sales target of 400,000 units and annual revenue exceeding 100 billion yuan by 2027, with long-term goals of reaching 800,000 units by 2030 and 1.5 million units by 2035 [12][16]. Research and Development - The company has significantly increased its R&D investment, with expenditures of 5.44 billion yuan, 6.60 billion yuan, and 12.14 billion yuan from 2022 to 2024, and 8.31 billion yuan in the first half of 2025 [15][16]. - Avita employs a large number of R&D personnel, accounting for 57.1% of its total workforce, and collaborates with partners for additional R&D services [16].

Core Insights - The strategic partnership between Avita and Huawei has entered a new phase, focusing on comprehensive collaboration across various fields [1][3] - Avita has paid a total of 11.5 billion yuan to Huawei, acquiring a 10% stake in Huawei's subsidiary, marking it as the most deeply integrated automotive partner with Huawei [5][7] - The collaboration will see the launch of 17 new products by 2030, including sedans, SUVs, and MPVs, with a synchronized product development cycle [5][9] Group 1 - Avita and Huawei are expanding their cooperation from the HI model to the HI PLUS model, covering user insights, product definition, development, integrated marketing, and team building [3][5] - Avita's entire vehicle lineup is now available on the Huawei Kun APP, and they have established a benchmark store for Huawei Kun, aiming to upgrade existing channels [5][7] - Avita has delivered 4,000 vehicles to Huawei employees, reflecting the deepening strategic trust and organizational collaboration between the two companies [7][9] Group 2 - The partnership is characterized by a unified approach, with both companies sharing a common goal and strategy to create a new path for smart automotive collaboration in China [9]

Core Insights - The 23rd Guangzhou International Auto Show marked a new phase in the strategic cooperation between Avita and Huawei, showcasing Avita's commitment to innovation and collaboration with Huawei [1][2] - Avita has become the first brand to adopt the HI PLUS model, expanding its partnership with Huawei to encompass user insights, product definition, product development, integrated marketing, and team building [1][2] - Avita plans to launch 17 new models in collaboration with Huawei by 2030, covering various segments including sedans, SUVs, and MPVs [1] Group 1 - Avita has successfully delivered over 4,000 vehicles to Huawei employees, reflecting strong internal recognition of Avita's product capabilities [3] - The partnership has led to the establishment of a high-efficiency benchmark store under the Huawei Kunlun brand, enhancing sales channels and customer experience [2] - Avita and Huawei are jointly promoting the "Smart Beauty Seven-Star" service plan, aiming to elevate service standards and user engagement [2] Group 2 - Avita has made a significant capital investment in Huawei, totaling 11.5 billion yuan, acquiring a 10% stake in the company, which solidifies their partnership [2] - The collaboration has resulted in a strong emotional connection between the brands and their users, as evidenced by the participation of 24,000 users in the "Avita × Huawei Kunlun Smart Driving City Open Competition" [2] - Both companies emphasize a long-term commitment to user value and resource integration, aiming to redefine the smart automotive landscape in China [3]

Group 1 - The 23rd Guangzhou International Auto Show, themed "New Technology, New Life," commenced on November 21, showcasing 1,085 vehicles, with 93 new car debuts [1] - Among the exhibited vehicles, 629 were new energy vehicles (NEVs), accounting for nearly 60% of the total, reflecting a significant increase from the previous year's show where NEVs did not exceed half [1] - In 2024, China's automotive production and sales are expected to exceed 30 million units, with NEV production and sales surpassing 10 million units for the first time, and NEV ownership increasing 5.4 times compared to 2020 [1] Group 2 - The auto show highlighted the rapid development of electric and intelligent vehicles, with a focus on advanced driving technologies becoming a core attraction [2] - Companies like Avita and Huawei announced a new phase of collaboration, integrating advanced driving solutions and intelligent cockpit technologies into Avita models [2] - The exhibition saw an 81% increase in the number of exhibitors showcasing innovations in electric motors, energy storage, autonomous driving, and artificial intelligence, indicating a collaborative advancement across the entire automotive supply chain in China [2][3]

Core Insights - The 2025 Guangzhou Auto Show marked a new phase in the strategic partnership between Avita and Huawei, showcasing their commitment to deepening collaboration in the automotive sector [1][3][15] Group 1: Strategic Partnership - Avita has been collaborating with Huawei since 2019, evolving their partnership into the HI PLUS model, which encompasses user insights, product definition, development, integrated marketing, and team building [3][5] - The partnership is characterized by a strong capital bond, with Avita investing 11.5 billion in Huawei, acquiring a 10% stake in a subsidiary, solidifying their position as Huawei's most deeply integrated automotive partner [12] Group 2: Product Development and Technology - Avita is set to launch 17 new models by 2030, including sedans, SUVs, and MPVs, leveraging Huawei's advanced technologies such as the Kunlun ADS and MoLA intelligent cockpit systems [6] - The product launch cycle of Avita is closely aligned with Huawei's technology iterations, ensuring timely updates and enhancements [6] Group 3: Marketing and Sales Initiatives - Avita has integrated its offerings into the Huawei Kunlun APP, allowing users to view and order Avita vehicles directly [8] - The companies are collaborating to establish a benchmark store for Huawei Kunlun, enhancing the sales experience and promoting brand synergy [8] Group 4: Customer Engagement and Service - The "Smart Seven-Star" service plan aims to elevate customer service standards through proactive remote services and improved service processes, enhancing user experience [9] - Avita and Huawei organized the "Avita × Huawei Kunlun Intelligent Driving City Open Competition," engaging 24,000 users across 299 cities to showcase the capabilities of their intelligent driving technology [11]

Core Insights - The strategic partnership between Avita Technology and Huawei has entered a new phase, with a focus on deepening collaboration across various fields, including user insights, product definition, and integrated marketing [1] - Avita is the only brand within Huawei's QianKun system that has mass-produced vehicles, and both companies plan to launch 17 new products by 2030, covering sedans, SUVs, and MPVs [2] - Avita has established a strong capital bond with Huawei, having invested 11.5 billion yuan in October, acquiring a 10% stake in Huawei's Shenzhen Yingwang Intelligent Technology Co., further solidifying their partnership [3] Partnership Development - Avita and Huawei have upgraded their collaboration model from HI to HIPLUS, expanding their cooperation scope significantly [1] - The launch of the Avita models on Huawei's QianKun APP allows users to view and order vehicles directly, enhancing customer engagement [2] - The companies are working together on the "Smart Beauty Seven-Star" service plan to improve customer service standards and user experience [2] User Engagement and Recognition - The joint "Avita × Huawei QianKun Intelligent Driving City Open Competition" attracted participation from 24,000 users across 299 cities, showcasing the capabilities of QianKun Intelligent Driving [3] - Avita has delivered over 4,000 vehicles to Huawei employees, reflecting strong internal recognition of Avita's product quality and the deepening strategic trust between the two companies [3] - The collaboration has created a strong emotional connection between the brand and users, with both companies emphasizing a unified approach to achieving success in the smart automotive sector [3]