html On the evening of October 20, GAC Group issued an announcement stating that its subsidiary GAC Aion completed its A round of financing and led to war. This round of financing introduced a total of 53 strategic investors, with a total financing of 18.294 billion yuan, and a total of 17.72% of the shares were released. After the completion ofReporter | Zhou Shuqi
Editor |
financing, GAC Aion's registered capital increased from RMB 6.421 billion to RMB 7.803 billion, and the company's total shareholding in GAC Aion changed from 93.45% to 76.89%. GAC Aion is still a holding subsidiary of the company.
According to the announcement, this round of financing will be led by PICC Capital, South Network Nengchuang, National Development Fund, Shenzhen Venture Capital , CITIC Jinshi, Guangzhou Industrial Investment Group or its funds or institutions. It can be seen that the leading investors are still mainly state-owned enterprise funds or local industrial funds.
According to public information, the financing amount of up to 18.294 billion yuan is the largest single private equity financing that can be found in the domestic new energy vehicle industry in recent years.
GAC Aion said that after this round of financing, GAC Aion's valuation reached 103.294 billion yuan, making it the highest valuation of unlisted new energy vehicle companies in China with an unlisted new energy vehicle company exceeding 100 billion yuan. Compared with the new forces that have already listed on Hong Kong stock , GAC Aion's valuation has exceeded Xiaopeng Motors and Leapmotor . The latest market value of the latter two is HK$52.403 billion and HK$20.546 billion respectively.
GAC Aion's current round of financing also introduced strategic support and industrial collaborative investors in the fields of charging and swapping energy ecosystem, key battery resources, chip design and manufacturing, intelligent driving vehicle-road collaboration. Ganfeng Lithium , Hanrui Cobalt , SMIC Juyuan, Guangdong Semiconductor, China Communications Construction Capital and other companies are among the investors.
In addition, well-known professional investment institutions with market influence such as marketization, finance and asset management, as well as strategic investors such as large-scale policy-guided national and local investment institutions, have also participated in the investment.
announcement pointed out that this financing has given GAC Aion the advantages of upstream and downstream strategic industrial resources in the field of new energy vehicles; it has enhanced GAC Aion's industrial chain and supply chain's ability to ensure supply and stabilize supply in terms of energy ecology, battery materials, automotive chips, etc.; it has provided sufficient financial support for the research and development and industrialization layout of core technologies such as GAC Aion's new product development , new generation batteries, and electric drive .
At present, GAC Aion has started the construction of a battery R&D trial production line, established an energy technology company, and plans to establish an electric drive company. GAC Aion also signed a strategic cooperation agreement on with Ganfeng Lithium to cooperate from the upstream materials end of power batteries.
started mixed ownership reform and invasion work on August 30 last year. GAC Aion completed internal asset restructuring in November 2021, completed employee equity incentives in March 2022, and completed shareholding transformation in September this year. In the future, GAC Aion will be listed at the right time.
In the first nine months of this year, GAC Aion achieved a "big leap forward" in sales. Data shows that GAC Aion has a cumulative sales volume of 182,000 vehicles, and has increased by 132% year-on-year. This year, GAC Aion's sales target is 250,000 vehicles, and the current KPI completion rate is 73%.
It is worth mentioning that Zhiji Auto, a subsidiary of SAIC Group, and Lantu Auto, a subsidiary of Dongfeng Group, are also seeking external financing. Among them, Zhiji Auto completed its first round of market-oriented financing in August this year, with a valuation of about 30 billion yuan. Lantu Auto began its first external equity financing in September.
