Gasgoo Munich- The corporate registry data shows DEEPAL Auto Technology Co., Ltd. ("DEEPAL"), a unit of Changan Automobile, has completed a business registration update that adds two new shareholders: Chongqing Yufu Holding Group and CMB Financial Asset Investment. The company's registered capital jumped to roughly 470 million yuan from 330 million yuan — a 42% increase — with the equity structure adjusted accordingly.
Established in May 2018 with Deng Chenghao as its legal representative, DEEPAL serves as the primary vehicle for Changan's push into the new-energy passenger vehicle market. Its core operations span the R&D, production, processing, sales, and technical consulting of new-energy vehicles and components.
Image Source: DEEPAL
Both new investors acquired stakes via cash injections. Chongqing Yufu Holding Group contributed 2.5 billion yuan for a 12.0934% stake, making it DEEPAL's second-largest shareholder, while CMB Financial Asset Investment put in 500 million yuan for a 2.4187% holding. Changan Automobile remains the controlling shareholder with a 50.9959% stake, alongside existing investors such as Nanjing Runke Industrial Investment Co., Ltd., further diversifying the shareholder base.
Chongqing Yufu is a state-owned capital investment and operation platform fully controlled by the Chongqing SASAC, carrying significant local government backing. CMB Financial Asset Investment, a wholly-owned subsidiary of China Merchants Bank, specializes in market-oriented debt-to-equity swaps and equity investments. Their entry signals confidence from both industrial and financial sectors in DEEPAL's trajectory. The valuation for this capital increase was based on an assessed value of 14.55 billion yuan as of the end of March 2025, with the transaction conducted through a public listing at a property rights exchange to ensure compliance.
This move appears to mark the completion of DEEPAL's previously disclosed Series C capital expansion. Changan Automobile had earlier announced that the round aimed to raise a total of 6.122 billion yuan, with new registered capital of roughly 138 million yuan — figures that align with the latest registration changes.
According to Changan's filing, the proceeds will primarily fund new vehicle development, breakthroughs in intelligent and electrification core technologies, and the brand's global expansion — all aimed at solidifying DEEPAL's product and technological competitiveness in the NEV market.
