According to EnergyTrend, on July 24, Sunwoda announced that its subsidiary, Sunwoda Power Technology Co., Ltd. (hereinafter referred to as "Sunwoda Power"), plans to increase its share capital through a private placement, introducing two strategic industry investors: Sungrow and Tianqi Lithium (Shehong) (referred to as "Shehong Tianqi").
According to the announcement, Sunwoda Power is conducting a Series C+ capital increase. Sungrow and Shehong Tianqi will jointly contribute RMB 805 million to subscribe for RMB 4,251.3717 million of newly increased registered capital of Sunwoda Power, corresponding to an aggregate 2.93% equity stake in Sunwoda Power after the capital increase completion.
Details:
- Sungrow: previously held 2.46% equity in Sunwoda Power before the increase; invests RMB 655 million in this round, raising its total shareholding to 4.77% after completion;
- Shehong Tianqi: invests RMB 150 million, holding 0.55% after the increase.
Of the capital contribution, the corresponding portion will be included in Sunwoda Power's registered capital, with the remaining funds credited to capital reserve.
Upon completion of this capital increase, Sunwoda Power's registered capital will rise from RMB 14,090.15488 billion to RMB 14,515.29205 billion. The listed company's equity stake in Sunwoda Power held through Sunwoda Huizhou New Energy Co., Ltd. will decrease from 27.18% to 26.38%. The announcement states that the company still maintains control over the operation and management of Sunwoda Power, and Sunwoda Power will continue to be consolidated into the listed company's financial statements.
Sunwoda stated that this capital increase and introduction of upstream lithium resource enterprises and downstream core customers in the energy storage sector as strategic investors will help build an integrated upstream-downstream industrial synergy system, replenish Sunwoda Power's working capital, and optimize its capital structure.
Notably, Sunwoda Power and Sungrow have previously collaborated. The two parties jointly developed a 684Ah stacked-cell energy storage battery cell, which has been paired with Sungrow's PowerTitan 3.0 energy storage system and has achieved mass production and delivery.
At Sungrow's Global Partner Conference in early 2026, Sunwoda Power received the Global Strategic Partner Award and has been a long-term core supply partner. This equity investment is expected to elevate their cooperation from a supply‑demand relationship to an industrial strategic alliance.
