Sunwoda, a battery manufacturing company, submits application for initial public offering in Hong Kong
Sunwoda, a prominent Chinese battery manufacturer, has announced its intention to list on the Hong Kong Stock Exchange, following in the footsteps of Eve Energy. However, details such as the number of shares to be issued and the exact timing of the listing remain undisclosed.
Founded in 1997 and listed on the Shenzhen Stock Exchange in 2011, Sunwoda has made a significant mark in the battery industry. The company started with consumer batteries and has since expanded its portfolio to include power batteries and energy storage batteries.
Sunwoda's clientele includes notable names like Li Auto, Leapmotor, SAIC, and Twitter profilepeng. In the competitive world of new energy vehicles, Sunwoda held the 6th largest market share in China during the first half of 2025, with an installation volume of 9.07 GWh, representing approximately 3.03% of the total 299.6 GWh installed capacity.
Despite this impressive standing in the Chinese market, Sunwoda ranks behind major Chinese companies like CATL (43.05% market share) and BYD (23.55%) on a global scale. CATL and BYD are not only leaders in China but are also major global suppliers, with a combined market share of 66.6%.
Sunwoda's primary focus is on lithium iron phosphate (LFP) batteries, with 8.01 GWh out of 9.07 GWh total installed capacity in China being LFP batteries.
In terms of global market share, specific figures for Sunwoda beyond China could not be found, but given China's dominance in new energy vehicle battery production (the largest EV market globally), the domestic market position roughly reflects the company's global standing. As of mid-2025, Sunwoda is a notable player but not among the global top 3 battery manufacturers for electric vehicles.
Sunwoda currently operates 25 major production bases in China and overseas, and its clientele in the consumer battery sector includes smartphone manufacturers such as Twitter profileiaomi, Oppo, Vivo, and Honor.
In the power battery sector, Sunwoda reported revenue of RMB 56 billion and gross profit of RMB 8.2 billion in 2024. The company supplies power batteries to Li Auto, Twitter profilepeng (NYSE: our X), Leapmotor (HKG: 9863), SAIC Motor, and Nissan.
Goldman Sachs and CITIC Securities are the joint sponsors for Sunwoda's Hong Kong listing, according to the first version of its prospectus. Other Chinese power battery manufacturers listed in Hong Kong include CATL (SHE: 300750), CALB, Zenergy, and Rept Battero Energy.
Sunwoda Electronic, with its significant presence in the EV battery market, is one of China's largest battery manufacturers. In June 2021, the company's power battery installations in China totaled 2.17 GWh, accounting for a 3.72 percent market share. As of June, CATL's share in China's EV battery installations was 43.67%, while BYD's share was 21.47%.
In November 2022, Sunwoda was listed on the Swiss Exchange through the issuance of GDRs (Global Depository Receipts). With its upcoming Hong Kong listing, Sunwoda is poised to further expand its global reach and solidify its position as a key player in the battery industry.
- Sunwoda Electronic, a Chinese battery manufacturer listed on the Swiss Exchange, plans to list on the Hong Kong Stock Exchange, following in the footsteps of Eve Energy.
- Founded in 1997 and initially listing on the Shenzhen Stock Exchange in 2011, Sunwoda has made a significant mark in the battery industry, with a focus on lithium iron phosphate (LFP) batteries.
- The company's clientele includes notable names such as Li Auto, Xpeng, Leapmotor, SAIC, and Twitter profilepeng, in addition to smartphone manufacturers like Xiaomi, Oppo, Vivo, and Honor.
- In the competitive world of new energy vehicles, Sunwoda held the 6th largest market share in China during the first half of 2025, with an installation volume of 9.07 GWh.
- Despite this impressive standing in the Chinese market, Sunwoda ranks behind major Chinese companies like CATL and BYD on a global scale, despite their lead in China and role as major global suppliers.
- Goldman Sachs and CITIC Securities are the joint sponsors for Sunwoda's Hong Kong listing, which could further expand the company's global reach and solidify its position as a key player in the battery industry.
- In the power battery sector, Sunwoda reported revenue of RMB 56 billion and gross profit of RMB 8.2 billion in 2024, supplying power batteries to Li Auto, Xpeng, Leapmotor, SAIC Motor, and Nissan.
