On July fifteenth, SUNWODA launched a proposal concerning the spin-off of its subsidiary, SUNWODA EVB, for itemizing on the ChiNext board of the Shenzhen Stock Exchange.
SUNWODA EVB, as an impartial platform for the analysis, manufacturing, and gross sales of recent vitality automobile energy batteries, will obtain an impartial itemizing. After this spin-off is accomplished, the fairness construction of SUNWODA is not going to change and it’ll nonetheless preserve management over SUNWODA EVB.
As early as June this yr, SUNWODA EVB accomplished a brand new spherical B financing of ¥1.65 billion ($230 million), with investments from some establishments together with CCB Asset Management, China Construction Bank Leading Navigation, Chongqing Manufacturing, and many others. The post-investment valuation has reached ¥35.5 billion ($4.9 billion).
In truth, prior to this, SUNWODA EVB had already accomplished a number of rounds of exterior financing, with a complete quantity exceeding ¥10 billion ($138 million). Now, it has 70 shareholders behind it, together with new forces within the automotive business “Wei Xiaoli”, and different prestigious monetary backers.
In 2011, SUNWODA grew to become the primary listed firm on the Growth Enterprise Market (GEM) specializing in the “research, manufacturing, and sales of lithium battery modules as a whole.” However, with the slowdown in demand within the shopper electronics sector, SUNWODA started to shift its focus to the sector of energy batteries and as soon as once more caught onto a pattern. Currently, the corporate’s predominant enterprise covers three main sectors: shopper lithium battery enterprise, electrical automobile battery enterprise, and vitality storage system enterprise.
SUNWODA has skilled explosive progress in its efficiency inside a number of quick years. Especially within the energy battery enterprise, income elevated from ¥428 million ($60 million) in 2020 to ¥12.687 billion ($1.76 billion) in 2022. At the identical time, the corporate’s shopper electronics enterprise earnings additionally maintained regular progress, with shopper battery income exceeding ¥30 billion ($4.2 billion) in 2022.
SEE ALSO: CATL Rival Sunwoda EVB Release New Battery to Support 1,000km Cruising Range
The energy battery business report launched by SNE Research, a brand new vitality market analysis establishment, exhibits that the worldwide utilization of energy batteries reached 237.6 GWh from January to May 2023, with a year-on-year progress of 52.3%.
The prime ten battery firms are Ningde Times, BYD, LG Energy Solution, Panasonic, SK Innovation, CALB, Samsung SDI, Gotion Hi-Tech, EVE Energy, and SUNWODA. Chinese firms occupy six seats.
The newest knowledge exhibits that the cumulative put in capability of energy batteries in China for the primary 5 months of this yr is 119.2GWh, whereas the cumulative manufacturing of energy batteries is 233.5GWh. It will be clearly seen that the manufacturing of energy batteries far exceeds demand. Against this backdrop, battery producers are sure to face fierce competitors sooner or later, and the way to take care of market competitors and technological challenges turns into a troublesome downside.
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