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Chinese Battery Firm Sunwoda Completes GDR Issuance, Debuts on Swiss Stock Exchange

Nov 15,2022

Chinese battery manufacturer Sunwoda completed its issuance of global depository receipts (GDRs) on November 14 and listed them on the Swiss Stock Exchange, becoming the fourth company also traded publicly in Shenzhen to successfully list GDRs in Europe.

This time, Sunwoda issued 28.759 million GDRs at a price of $15.30, raising about $440 million. The company has been deeply involved in the battery industry for 25 years, establishing a lithium battery industry chain that integrates R&D, design, production and sales of consumer batteries, power batteries and energy storage batteries.

According to industry consultant statistics, in 2021, Sunwoda's installed capacity of consumer batteries will exceed 500 million, making it the world's largest consumer battery manufacturer. At present, Sunwoda is vigorously developing power battery and energy storage battery business.

In the first half of 2022, the company achieved revenue of $595 million for electric vehicle batteries, up 631.92% year-on-year. According to data , Sunwoda ranked fifth in China with a total installed capacity of 5.5 GWh from January to October.

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