AI Transportation Acquisition Corp.

General Information

We intend to focus our search for a target business in the transportation field, including but not limited to logistics, new energy vehicles, smart parking, on-board chips and AI algorithms, automotive services and related areas of intelligent transportation. (Incorporated in the Cayman Islands)

Artificial intelligence is shaping the future of humanity across nearly every industry; it is already the main driver of emerging technologies like big data, robotics and IoT (i.e., Internet of Things), and we believe it will continue to act as a technological innovator for the foreseeable future. We seek to identify, acquire and operate an intelligent transportation business using AI that may provide opportunities for attractive risk-adjusted returns, with a particular focus on opportunities aligned with these industries. Global population growth and continuing improvement in global living standards, particularly in developing nations, is expected to drive ongoing growth in demand for intelligent transportation through AI and AI-powered technologies both for commercial and personal uses.

We intend to source initial business combination opportunities through our management team’s extensive network of automotive and automotive-related sector business owners, public and private company executives and board members, investment bankers, private equity and debt investors, high net worth families and their advisors, commercial bankers, attorneys, management consultants, accountants and other transaction intermediaries. We believe this approach, as well as our management team’s recognized track record of completing acquisitions across a variety of subsectors within the automotive and automotive-related sector will provide meaningful opportunities to drive value creation for shareholders.

Our management team and our board of directors are located in China:

Yongjin Chen, Chief Executive Officer, Chairman and Executive Director. Mr. Chen resides in Beijing, China, and brings more than two decades of experience in finance and technology. He is currently a partner at UniTHU Capital (Beijing) Investment Management Co., Ltd., where he has served since July 2017. At UniTHU Capital, Mr. Chen has worked with investors in the technology space. Prior to that, Mr. Chen was a founding partner responsible for fundraising, investment management and other aspects of funds at Beijing D&S Capital Management Co., Ltd., where he served from February 2014 to July 2017. From November 2015 to December 2016, Mr. Chen was the CEO of Beijing Heima Financial and a Managing Partner at the Beijing Heima Fund. From November 2014 to November 2015, he was an Executive Director at Yajie Angel Investment Management (Beijing) Co., Ltd. Mr. Chen started his career as the founder and general manager of HanYu Century (Beijing) Information Technology Co., Ltd. where he developed and operated a web-based virtual community called “Giant Bubble” from January 2007 to November 2014. Mr. Chen holds a Bachelor’s Degree from Tsinghua University’s School of Mechanical Engineering (2000), an MBA from Peking University’s Guanghua School of Management (2015) and a Master’s Degree from Peking University’s Guanghua School of Management (2022).

Yun Wu, Chief Financial Officer and Executive Director. Ms. Wu resides in Beijing, China and brings more than two decades of experience in finance, e-commerce and technology companies. She is currently an accounting supervisor at UniTHU United (Beijing) Investment Management Co., Ltd., where she has served since April 2018 establishing and improving the company’s accounting management and financial management system, preparing and summarizing financial statements and working with audits. At UniTHU, Ms. Wu has also undertaken the due diligence review of government guide funds and has formulated tax financial plans for the company. Prior to that, she was a general ledger accountant at Beijing Dong Qiu Di Technology Co., Ltd. from August 2015 to April 2018, where she was responsible for the financial processing of the e-commerce department, amongst other duties.

At Beijing Dong, Ms. Wu also handled and maintained financial aspects of the business including high-tech management and subsequent maintenance and annual audits and tax settlements of domestic and foreign companies. From March 2015 to July 2015, Ms. Wu was a finance supervisor at Beijing Tiantian Fresh Technology Co., Ltd. and from March 2010 to February 2015, she was a finance supervisor at Reisi Interactive (Beijing) Consulting Co., Ltd. At Beijing Tiantian, Ms. Wu was responsible for improving the company’s financial system and sales performance rules, daily business transaction contracts, and daily accounting treatment, among other obligations. At Reisi Interactive, Ms. Wu was responsible for the daily tax work of the company, outsourcing project financial analysis and preparing annual, quarterly and monthly cash flow budgets, among other obligations.Ms. Wu holds a Bachelor’s Degree from Nanjing University (2006) and various accounting certificates, including an intermediate accounting qualification certificate (2022), a fund qualification certificate (2018), an accounting primary qualification certificate (2013) and an accounting professional qualification certificate (2012).

(Note: AI Transportation Acquisition Corp. upsized its SPAC IPO at pricing to 6.15 million units – up from 5.0 million units – and kept the assumed IPO price at $10.00 – to raise $61.5 million. The AI-focused blank check company became, at pricing, the 26th SPAC IPO priced so far this year. Background: AI Transportation Acquisition Corp. filed its S-1 on March 15, 2023, and disclosed the terms for its SPAC IPO: 5.0 million units at $10.00 each to raise $50.0 million.)

(Note: AI Transportation Acquisition Corp. filed an S-1/A dated Aug. 31, 2023, in which it redefined the unit in its SPAC IPO – a unit offering: Each unit will now consist of one ordinary share and one right to receive one-eighth (1/8) of one ordinary share upon consummation of the SPAC’s initial business combination, according to the prospectus. Background: The SPAC IPO’s original terms defined each unit as consisting of one share of common stock, three-quarters of a redeemable warrant and one right to receive one-tenth (1/10) of a share of common stock upon the consummation of its initial business consummation.)

Employees: 0
Founded: 2022
Contact Information
Address 10 East 53rd Street, Suite 3001 New York, NY 10022 + (86) 1350 1152063
Phone Number + (86) 1350 1152063
Web Address
View Prospectus: AI Transportation Acquisition Corp.
Financial Information
Market Cap $64.94mil
Revenues $0 mil (last 12 months)
Net Income $0 mil (last 12 months)
IPO Profile
Symbol AITRU
Exchange NASDAQ
Shares (millions): 6.2
Price range $10.00 - $10.00
Est. $ Volume $61.5 mil
Manager / Joint Managers EF Hutton
Expected To Trade: 11/9/2023
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change