Aerofugia Technology has begun preparations for an initial public offering (IPO) as it targets a listing on Shanghai’s STAR Market, according to a filing on the website of the China Securities Regulatory Commission dated April 2.
The company signed a pre-IPO tutoring agreement on April 1 with CSC Financial, which will support compliance work for the planned listing. Geely Terrafugia Hubei remains the controlling shareholder with a 40.02% stake.
The move follows a funding round of nearly 1 billion yuan (about $140–146 million) completed in February, which the company said was the largest single investment in China’s low-altitude economy so far this year. The round was led in part by CSC Financial and is expected to support aircraft certification and commercial deployment.
Backed by Geely, Aerofugia develops electric passenger aircraft. Its AE200-100 model, unveiled in 2025, has a range of about 200 km and is undergoing final-stage certification, with more than 1,000 orders reported.
The company said the aircraft is designed for applications including business travel and aeromedical transport, with operating costs expected to be lower than those of similarly sized helicopters.
Aerofugia is part of a broader push into low-altitude mobility, a sector gaining attention in China as regulators and companies explore new transport solutions. The planned listing could support further development and commercialization of its electric aviation technologies.
