Aotecar
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Aotecar - overview
Established
2002
Location
Nanjing, Jiangsu, China
Primary Industry
Automobiles, Other Vehicles & Parts
About
Founded in 2002 and headquartered in Nanjing, China, Aotecar New Energy Technology Group Co. , Ltd. was founded as Nantong Kingfield Garment Co. , Ltd.
(later known as Jiangsu Kingfield Garments Co. , Ltd. ) and operated in the garment manufacturing industry. In January 2007, it was converted into a joint stock company.
In 2008, it IPO-ed on the Shenzhen Stock Exchange. In June 2015, the company acquired Nanjing Aotecar New Energy Technology Co. , Ltd. for CNY 2.
65 billion and officially changed its name from Jiangsu Kingfield Garments Co. , Ltd. to Aotecar New Energy Technology Co. , Ltd.
, and its stock abbreviation from Kingfield to Aotecar. The shares continue to trade on the Shenzhen Stock Exchange under ticker 002239. In March 2025, Yangtze River Industry Fund agreed to acquire 197. 71 million shares in Aotecar at CNY 2.
54 apiece for approximately CNY 499. 64 million, in a PIPE transaction, the deal was finalized in April 2026. Aotecar specializes in the development, manufacturing, and sales of automotive air-conditioning compressors and related components. Its business covers both traditional automotive applications and the new energy vehicle sector.
Its clients include Ford, Jaguar and Land Rover. The company generates revenue by providing automotive air-conditioning compressor, automotive air-conditioning system, engine cooling, new energy vehicle battery thermal management and other services. The company will use the PIPE funding to supplement working capital and repay bank loans.
Current Investors
China Asset Management, First Capital Securities, Nanshan Dacheng Fund
Primary Industry
Automobiles, Other Vehicles & Parts
Sub Industries
Automobiles, Other Vehicles & Parts
Website
www.aotecar.com/
Verticals
Clean Technology, Electric & Hybrid Vehicles, Manufacturing
Company Stage
Mature - Growth Capital
Total Amount Raised
Subscriber access only
Aotecar - financials
| Fiscal Year Ended | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 450,001,962.3 | 2,483,559,999.1 | 5,229,394,578.6 | 5,183,966,170.5 | 4,090,831,025.7 | 3,210,648,346.5 | 3,726,893,595.1 | 5,137,401,282.6 | - | - | - |
| % Revenue Growth (YoY) | - | 451.9% | 110.6% | (0.9%) | (21.1%) | (21.5%) | 16.1% | 37.8% | - | - | - |
| EBITDA (USD) | 31,761,005.7 | 306,342,871.5 | 673,553,239.4 | 593,444,116.1 | 606,458,960.4 | (4,470,992) | (103,316,234) | 149,700,028.7 | - | - | - |
| Operating Income (USD) | 17,245,394.6 | 220,326,819.9 | 497,205,498 | 386,318,456.5 | 387,403,827.9 | (250,963,382.1) | (367,556,815.6) | (87,126,725.8) | - | - | - |
| Operating Margin | 3.8% | 8.9% | 9.5% | 7.5% | 9.5% | (7.8%) | (9.9%) | (1.7%) | - | - | - |
| % EBITDA Margin | 7.1% | 12.3% | 12.9% | 11.4% | 14.8% | (0.1%) | (2.8%) | 2.9% | - | - | - |
| NET Income (USD) | 5,802,071.5 | 223,216,184.9 | 450,451,683.9 | 366,491,624.7 | 34,686,954.9 | 101,554,333.9 | (297,770,448.1) | (129,604,597.1) | - | - | - |
| % Net Margin | 1.3% | 9.0% | 8.6% | 7.1% | 0.8% | 3.2% | (8.0%) | (2.5%) | - | - | - |
Aotecar - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PIPE | Completed | Aotecar | - | ||||||||
| PIPE | Completed | Aotecar | - | ||||||||
| PIPE | Completed | Aotecar | - | ||||||||
| Trade Sale | Completed | Air International Thermal Operations | - |
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