AVATR files for Hong Kong IPO

Shanghai (Gasgoo)- AVATR Technology (Chongqing) Co., Ltd. has formally filed for an initial public offering on the Hong Kong Stock Exchange, marking the first time a state-backed Chinese new energy vehicle (NEV) maker has lodged a listing application with the bourse. The company—jointly founded by Changan Automobile, Huawei and CATL—has appointed CITIC Securities and CICC as joint sponsors for the deal.

Photo source: AVATR

Financial disclosures show the company is expanding rapidly. AVATR recorded 12.208 billion yuan in revenue in the first half of 2025, nearly doubling year on year. Vehicle sales remained the core driver, contributing 11.49 billion yuan, while an additional 718 million yuan came from services and technologies such as assisted-driving solutions, ecosystem offerings, after-sales support and components.

The filing also highlights AVATR's deepening ties with Huawei. Last August, the company agreed to acquire a 10% stake in Huawei's subsidiary, Yinwang, for 11.5 billion yuan—a move reinforcing their technical and product co-development alliance. According to AVATR chairman Wang Hui, the number of jointly developed models with Huawei is expected to increase from one to four by 2026, signaling an expansion of the partnership at a time when China's intelligent NEV ecosystem is consolidating around major technology platforms.

Changan Automobile has previously told investors that AVATR will continue to operate independently, leveraging but not relying solely on its strategic partners while progressing toward its own listing. The company reiterated its intention to go public after completing a Series C fundraising round last December, indicating a target listing window in 2026.

By submitting its IPO application now, AVATR has taken a significant step toward that plan, laying the groundwork for a potential debut in Hong Kong as early as the second quarter of 2026.