With a valuation of over 35.5 billion, Sunwoda's power battery sector launched its IPO
Sunwoda (300207.SZ)'s power battery sector officially launched the IPO process.
According to the official website of the China Securities Regulatory Commission on October 17, Sunwoda Power Technology Co., Ltd. (hereinafter referred to as Sunwoda Power) has signed a listing guidance agreement with CITIC Securities on October 15.
According to the counseling record report, Sunwoda Power was established in 2014 with a registered capital of more than 9.5 billion yuan. The controlling shareholder is Sunwoda Huizhou New Energy Co., Ltd. (hereinafter referred to as Sunwoda Huizhou), which now directly holds 39.69% of the company's shares. Sunwoda holds 100% of the equity of Sunwoda Huizhou and is the indirect controlling shareholder of Sunwoda Power.
In July this year, Sunwoda announced that it planned to hold its subsidiary Sunwoda PowerSpun off to the Growth Enterprise Market of the Shenzhen Stock Exchange。 After the completion of the split, Sunwoda will still maintain control of Sunwoda Power.
Sunwoda takes consumer lithium batteries as its main business. Sunwoda Power's main business is the R&D, production and sales of power lithium batteries, and its customers include Dongfeng, SAIC, GAC, Renault, Nissan, etc.
Sunwoda said that the company's power battery field focuses on prismatic aluminum shell batteries, and at the same time lays out power large cylindrical batteries, covering the two major application markets of power and energy storage. In addition to passenger cars, the product application of power batteries also covers commercial vehicles, ships, etc.
Sunwoda Power has two R&D centers in Shenzhen and Huizhou, Guangdong, power battery production bases in Nanjing, Jiangsu, Nanchang, Jiangxi, and Huizhou, Guangdong, and lithium battery factories in Zaozhuang, Shandong, Shifang, Sichuan, Yichang, Hubei and Yiwu, Zhejiang.
According to the official micro of Sunwoda Power, on October 10, the first batch of battery cells of Sunwoda Power's Yichang production base officially rolled off the assembly line, and Wang Wei, chairman of Sunwoda, said, "In addition to the layout of commercial vehicles, passenger car power batteries and industrial and household energy storage battery production capacity, the Yichang base project will also actively participate in marine power battery solutions." ”
In 2022, Sunwoda Power's revenue will be 12.9 billion yuan, four times that of 2021, and its net loss will be 1.09 billion yuan, which is basically the same as the previous year. Sunwoda Power has completed several rounds of strategic financing through capital increase and share expansion, and investors include IDG, Shenzhen Capital Group, National Green Development Fund, Ideal, NIO, Xiaopeng, etc.
According to the latest announcement of Sunwoda Power's capital increase and share expansion released in June, a total of 8 companies increased their capital with a total of 1.65 billion yuan, and obtained 4.64% of the equity after the completion of the capital increase. Based on this calculation, the valuation of Sunwoda Power is 35.56 billion yuan, which exceeds the current market value of the parent company Sunwoda.
As of 13:15 p.m. on October 18, Sunwoda's share price was 16.45 yuan, with a total market value of 30.6 billion yuan. In the context of sluggish stock price performance, Sunwoda disclosed in August this year that it would spend 100 million yuan to 200 million yuan to repurchase the company's shares, and the repurchase price would not exceed 20 yuan per share.
At a time when power battery companies are going to sea, Sunwoda Power is also keeping up with the pace. On July 27, Sunwoda announced that it will build a power battery factory in Hungary with Sunwoda Power, a subsidiary of Sunwoda Power, as the main investor, with an investment of no more than 1.96 billion yuan in the first phase of the project, mainly engaged in the manufacture and sales of lithium-ion batteries and power battery systems.
According to the latest power battery statistics from SNE Research, a South Korean research institution, Sunwoda's installed power battery capacity reached 6.2 GWh in the first eight months of this year, with a market share of 1.4%, ranking tenth in the world.
In addition to Sunwoda Power, domestic lithium battery head companies such as Honeycomb Energy and Ruipu Lanjun are also in the process of seeking listing.
SVOLT applied for listing on the Shanghai Stock Exchange's Science and Technology Innovation Board in November 2022, planning to raise 15 billion yuan, and has now accepted the second round of inquiries from the Shanghai Stock Exchange. Ruipu Lanjun applied for listing on the Hong Kong Stock Exchange in December 2022 and updated its prospectus at the end of last month.
