After CATL And EVE Energy, Sunwoda Files For HKEX Listing To Pursue A+H

The Hong Kong Stock Exchange disclosed on July 30 that Sunwoda Electronic Co., Ltd. ("Sunwoda") has submitted an application for listing on the Main Board of the Hong Kong Stock Exchange, with Goldman Sachs and CITIC Securities serving as joint sponsors.

This is the third domestic power battery company seeking dual "A+H" listings, following CATL and EVE Energy.

It is reported that the net proceeds from this fundraising by Sunwoda are planned to be used for: implementing the company's international growth strategy, including expanding new overseas production facilities as well as the global sales and service network to better reach the growing international customer base; research and development to maintain the company's leading position in the lithium-ion battery industry and further enhance technological capabilities; digital and intelligent upgrades of company operations; potential investments or acquisitions in upstream and downstream businesses to support the company's strategic development and to expand the breadth and depth of the value chain; and as working capital and for other general corporate purposes.

Image source: Sunwoda

Sunwoda is committed to the research and development, design, manufacturing, and sales of lithium batteries, providing comprehensive solutions from cells to systems, covering consumer batteries, power batteries, and energy storage systems.

Starting from the consumer battery business, Sunwoda has gradually expanded into power batteries and energy storage systems, forming an integrated business layout, with revenue from consumer batteries accounting for more than 50% of total revenue.

As of March 31, 2025, Sunwoda has 19 production bases in China and 6 production bases overseas to meet the needs of global customers.

Previously, Sunwoda stated on the interactive platform that listing in Hong Kong can further advance its globalization strategy, establish an international capital operation platform, and enhance its international brand image and overall competitiveness.

Sunwoda was listed on the Shenzhen Stock Exchange in 2011. As of the close on July 30, its market value reached 40.8 billion yuan. In 2022, it successfully issued Global Depository Receipts (GDR) and was listed on the Swiss Exchange.

In terms of performance, Sunwoda achieved revenues of approximately RMB 52.162 billion, RMB 47.862 billion, and RMB 56.021 billion in 2022, 2023, and 2024 (during the reporting period), respectively. During the same periods, the company’s profit attributable to owners was approximately RMB 1.068 billion, RMB 1.076 billion, and RMB 1.474 billion, respectively.