Sunwoda plans to build its first consumer battery plant in Viet Nam, which is another overseas investment plan after investment plans in Hungary and Morocco.
CLS reporter noted that the company's investment plans in Hungary and Morocco are to build power battery factories, while Viet Nam is positioned in consumer batteries.
Sunwoda announced that the company plans to set up Viet Nam Liwei Co., Ltd. through its subsidiary Hong Kong Xinwei, and invest in the construction of Viet Nam Liwei consumer lithium battery factory project, with a total investment of no more than 2 billion yuan.
In fact, Sunwoda has set up a wholly-owned grandson company Sunwoda Viet Nam Co., Ltd. as early as April last year, with a registered capital of 4 million US dollars. The company’s business scope includes production, processing and assembly of lithium batteries for mobile phones, laptops and other electrical and electronic equipment.
Sunwoda said that as an emerging market economy, Viet Nam has undertaken more consumer electronics capacity transfer in recent years, and the relevant industrial chain supporting facilities are also constantly improving, which can better meet the needs of the company to build overseas production bases.
It is reported that Sunwoda is engaged in the R&D and manufacturing of lithium-ion batteries, with product types including consumer batteries, electric vehicle batteries, and energy storage systems, accounting for 59.64%, 22.55%, and 2.32% of revenue in 2023, respectively. Consumer batteries are its main business.
Sunwoda disclosed the half-year performance forecast on the same day, and it is expected to achieve a net profit attributable to shareholders of listed companies of about 767 million yuan to 899 million yuan in the first half of the year, a year-on-year increase of 75%-105%. The company said that in the first half of this year, the company's business plan was carried out in an orderly manner. With the increase of marketing efforts, the company's main business income grew steadily in the first half of the year, and the improvement of profitability led to a corresponding increase in performance.
Source: CLS