On the evening of May 26th, Sunwoda issued an announcement stating that its subsidiary, Sunwoda Power Technology Co., Ltd. (hereinafter referred to as "Sunwoda Power"), plans to carry out a Series C capital increase and share expansion.
It is reported that this transaction will bring in a total of 13 investment enterprises, which plan to contribute a combined total of RMB 1.6798 billion to subscribe to the newly added registered capital of Sunwoda Power. This corresponds to a total of 6.3% of Sunwoda Power's shares upon the completion of this capital increase.
The institutions participating in this capital increase encompass state-owned capital, industrial funds, and supply chain enterprises. Specifically:
ABC Investmen and Jinyan Commercial Management will each invest RMB 300 million;
Gongrong Jintou , Yuanzhi Gongrong, and China Post Investment will each invest RMB 200 million;
Deyang Investment Holding will invest RMB 120 million;
United Winners Laser and Yinghe Technology will invest RMB 50 million and RMB 49.8 million, respectively.
All investors will inject capital into Sunwoda Power in the form of cash contributions.
Following the completion of the capital increase, Sunwoda Power's registered capital will increase from approximately RMB 13.203 billion to roughly RMB 14.09 billion. The equity stake held by Sunwoda Huizhou New Energy Co., Ltd. in Sunwoda Power will change from 29.00% to 27.18%. However, Sunwoda will still retain a controlling interest in Sunwoda Power, and the subsidiary will continue to be consolidated into the listed company's financial statements.
Sunwoda stated that this round of financing will primarily be used to support Sunwoda Power's R&D investments, production capacity construction, and market expansion. Simultaneously, it will optimize the company's financial structure, reduce debt repayment risks, and further enhance its sustained operational capabilities and market competitiveness.
Source：EnergyTrend