According to EnergyTrend, Sunwoda issued an announcement on September 4, stating that its subsidiary Sunwoda Power plans to conduct a capital increase and share expansion, bringing in Beijing Li Auto Co., Ltd. as an investor for its C++ financing round.
Per the announcement, Sunwoda has agreed that Li Auto will contribute RMB 2.65 billion to subscribe for RMB 1.399519878 billion of new registered capital in Sunwoda Power, representing an 8.79% equity stake in Sunwoda Power upon completion of the capital increase.
Following the transaction, Sunwoda Power’s registered capital will rise from RMB 14.515292050 billion to RMB 15.914811928 billion. The equity interest held by Sunwoda Huizhou New Energy Co., Ltd. in Sunwoda Power will drop from 26.38% to 24.06%. The listed company will retain control over Sunwoda Power, and the subsidiary will remain within the scope of the listed company’s consolidated financial statements.
As of the announcement date, the aforesaid C++ round investor intends to sign the Capital Increase Agreement of Sunwoda Power Technology Co., Ltd. together with Sunwoda Power, its actual controller and Sunwoda Huizhou New Energy Co., Ltd.
As disclosed in the filing, both Li Auto and existing shareholder Chongqing Chezhiyuan Venture Capital Co., Ltd. are affiliates under Leading Ideal HK Limited. Upon deal closure, entities within the Li Auto ecosystem will collectively hold an 11.17% stake in Sunwoda Power.
The total equity value of Sunwoda Power is assessed at RMB 25.0007672 billion. Referencing the pre money valuation of RMB 25 billion for Sunwoda Power’s C round financing as well as proceeds from the C round and C+ round capital increases, the parties reached mutual agreement to set the total equity value of Sunwoda Power at RMB 27.4848 billion prior to this C++ round share expansion.
Sunwoda noted that the capital increase aims to deepen strategic cooperation between Sunwoda Power and Li Auto, leverage synergies in R&D, production capacity support and market expansion, and strengthen competitiveness in the power battery segment. It will also boost Sunwoda Power’s capital base, lower its asset liability ratio and underpin the growth of its power battery business.
The transaction does not constitute a major asset reorganization. Subject to satisfaction of closing preconditions stipulated in the upcoming capital increase agreement, the deal will take effect.
Financial figures show Sunwoda Power posted operating revenue of RMB 20.093 billion and a net loss of RMB 3.169 billion in 2025. For the first half of 2026, it recorded revenue of RMB 15.529 billion with a net loss of RMB 324 million. The firm remains in a strategic investment phase and has yet to turn profitable.
Prior to this round, Sunwoda Power completed a RMB 1.68 billion C round financing in May 2026 and a RMB 805 million C+ round financing in July 2026. Together with the latest RMB 2.65 billion C++ round capital injection, multiple tranches of industrial capital have backed the company within the year.
Source：EnergyTrend