Changan won approval to raise 5.27 billion yuan, 1.5 billion of it for vehicle software

Chongqing Changan Automobile told the Shenzhen exchange on August 31 that the China Securities Regulatory Commission had registered its private placement of up to 5.267 billion yuan. The approval, numbered 证监许可〔2026〕2200号, is valid for twelve months. The subscriber is China Changan Automobile, the company’s indirect controlling shareholder, which makes the placement a related-party transaction.

The registered prospectus, filed the same day, set out where the money goes. A project covering new-energy models and what Changan calls a digital-intelligence platform carries a total investment of 9.095 billion yuan, of which 4.217 billion comes from the placement. Within it, the digital-intelligence platform alone is budgeted at 4.732 billion yuan, with 1.5 billion drawn from proceeds.

The document broke that budget down. Information-technology costs account for 2.859 billion yuan, or 60.42 percent, and are defined as two things: rented GPU and TPU clusters for training end-to-end and vision-language-action models, and the large-scale collection, cleaning and labeling of real road scenes alongside synthetic data. Outsourcing and testing take 22.82 percent, and the salaries of research and development staff take 14.81 percent. The outsourcing line names development on the J6P platform, in single and dual configurations.

The work funded includes Changan’s Tianshu end-to-end driving model and a cockpit vehicle operating system built to take continuous over-the-air updates. A second project sets aside 342 million yuan for a test and validation base whose stated subjects are controllers and software, systems, and complete vehicles.