Gasgoo Munich - On January 20, the Shanghai Stock Exchange listing committee approved the initial public offering of Atech Automotive(Wuhu). The approval occurred during its second meeting of 2026.
The company plans to list on the Shanghai main board, with Huatai United Securities serving as the sponsor.
Founded in 2002, Atech specializes in automotive electronics.
Its core operations span the R&D, production, and sales of electronic products for body, smart cockpit, powertrain, and intelligent driving domains.
The firm also provides electronics manufacturing services (EMS) and technical development. This creates a full business ecosystem from design and verification to mass production.
Image Source: Atech Automotive Electronics (Wuhu) Co., Ltd.
Atech has established a strong position in niche segments.
In 2024, it captured a 25.50% share of the OEM-installed body domain controller market for domestic passenger vehicles. It also held a 13.83% share for physical remote keys, ranking first in both categories.
It also ranked third in cockpit domain controllers and display assemblies with a 6.41% share.
Its client roster includes domestic giants like Chery, Changan, and Great Wall, alongside new-energy players such as Li Auto and XPENG.
Financially, the company is on a steady upward trajectory.
Revenue rose from 2.174 billion yuan in 2022 to 3.467 billion yuan in 2024. Net profit attributable to shareholders increased from 91.7 million yuan to 212 million yuan over the same period.
Body domain products recorded a gross margin of 22.02% in the first half of 2025. The smart cockpit business is positioned as a critical growth engine for the future.
Atech aims to raise 1.5 billion yuan in this offering.
Proceeds will fund the expansion of its production base and the construction of an R&D center. Funds will also replenish working capital to break through capacity bottlenecks and strengthen technological capabilities.
Records show that Chery and Xiaomi are among Atech's shareholders.
Chery, an early investor through its subsidiary Ruichuang, holds a 14.99% stake. It remains a key strategic partner and core client.
On the Xiaomi side, the Hubei Xiaomi Changjiang Industrial Fund (Limited Partnership) owns 8.19%. Beijing Jimu Venture Capital, an affilAteche of Xiaomi's industrial investment arm, holds 4.32%.
Xiaomi Intelligent Manufacturing has also participated. The Xiaomi ecosystem consistently increased its investments across multiple funding rounds.
