Geely increases investment in low-altitude travel, its subsidiary WoFei Chang Kong completes share reform and capital increase | Hot Finance

Recently, “AEROFUGIA (沃飞长空)” under Geely completed an industrial and commercial change. The company name was changed from “Sichuan AEROFUGIA Technology Development Co., Ltd.” to “Sichuan AEROFUGIA Technology Joint-Stock Co., Ltd.” Registered capital increased from 1.77 billion yuan to 3.6 billion yuan. At the same time, management was adjusted: Xu Hainghao took over as chairman and legal representative, while the former chairman, Gu Wenting, was adjusted to vice chairman.

New Chairman Xu Hainghao began serving as Chief Executive Officer of Geely Technology Group in 2017, helping the group form a diversified industrial layout centered on new materials, motorcycle intelligent manufacturing, the low-altitude economy, power modules, and AI semiconductors, and he has also deployed in areas such as commercial aerospace and new energy. Currently, he also serves as chairman of Qianjiang Motorcycle, chairman of Taili Feiche, and chairman of Hongqiao Group, among other roles.

AEROFUGIA’s headquarters is located in Chengdu and it was established in 2016. From its early-stage technology incubation to independent operations in 2020, AEROFUGIA has become a core company under Geely Technology Group’s New Air Navigation strategy, focusing on low-altitude travel and undertaking the industrialization and landing of the AE200 series eVTOL (electric vertical takeoff and landing aircraft). Its largest shareholder is Hubei Geely Taili Feiche Co., Ltd. (holding 65.01%), and the actual controller is Li Shufu.

One week before AEROFUGIA increased capital, its largest shareholder Taili Feiche also completed a substantial capital increase. Registered capital rose from 90 million yuan to 7.95 billion yuan, further strengthening Geely’s funding reserves and industrial layout in the low-altitude travel sector.

As for financing, earlier this year (February), AEROFUGIA’s latest round of nearly 1 billion yuan financing was led by China Jianyin Investment, with joint investment from Lianxin Capital, Xiangfeng Investment (an entity related to Singapore’s Temasek), Heguang Ventures (formerly Qingsong/Speed of Light and Qinhong Heguang), Guoce Investment, and others. Existing shareholders such as Panlin Capital, ZK Chuangxing, Songhe Capital, and Yunsheng Capital continued to participate. According to AEROFUGIA, this latest round of financing will be used for its AE200 series’ final airworthiness certification sprint, the production launch of its global headquarters base, and the in-depth development of its commercial low-altitude travel business model—working to drive its products from technological validation to large-scale commercial use.

The low-altitude economy has been included in the government work reports for three consecutive years, greatly boosting industry confidence. With policy dividends continuing to be released, key technologies continuously breaking through, and deeper integration with market demand, new quality productive forces represented by the low-altitude economy and commercial aerospace are entering a crucial window for the shift from “breakthroughs at individual points” to “system maturity.”

By | Reporter Yan Jincheng